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A comment on Someone paid $2.6M in fees to move $134 worth of cryptocurrency. Parent comment

Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by anamexis on Thursday June 11, 2020 @01:41PM (#23491308)
Why couldn't you sue to recover the crypto?
[ Parent | on HN ]
Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by toomuchtodo on Thursday June 11, 2020 @01:41PM (#23491318)
Lack of KYC (Know Your Customer [1]) and AML (Anti Money Laundering processes [2]) makes it more difficult to know who to pursue legally. Your US bank account or brokerage account is tied to your social security number and other PII. Who and where to process serve is much more accessible.

[1] https://en.wikipedia.org/wiki/Know_your_customer

[2] https://en.wikipedia.org/wiki/Anti-money_laundering_software

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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by camjohnson26 on Thursday June 11, 2020 @01:52PM (#23491457)
Why would you send currency to an address if you haven’t verified its identity. The tools are young, if there aren’t enough controls for you yet then don’t use them. I don’t, but I respect the power of the technology and it’s future potential.
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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by olliej on Thursday June 11, 2020 @08:51PM (#23494841)
Because there is no meaningful proof of identity for a bitcoin address? If someone on twitter says “here’s my bitcoin address for donations” they may have been hacked, or they could claim that they were hacked, and you can’t find who controls the recipient account. By design.
[ Parent | on HN ]