Solend seized $170M of user funds

Re:Solend seized $170M of user funds by jquery on Sunday June 19, 2022 @09:17PM (#31805217)

If our government can catch money launderers because they’re running empty washing machines or selling unused tickets to shows, it’s hard to think of anything useful crypto can do that couldn’t be meaningfully regulated away.

[ Parent | on HN ]

Re:Solend seized $170M of user funds by ETH_start on Monday June 20, 2022 @03:28AM (#31807293)

The government takes billions of dollars from people every year without due process, using civil forfeiture laws:

https://ij.org/press-release/new-report-finds-civil-forfeitu...

But there's no evidence it stops much real money laundering:

https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1...

If money laundering were effectively dealt with, that would stop almost all theft and organized crime, as laundering the proceeds of these crimes to spend them would be nearly impossible.

Obviously that will never happen.

[ Parent | on HN ]

Re:Solend seized $170M of user funds by jquery on Sunday June 26, 2022 @10:21PM (#31889956)

I’m against civil forfeiture laws, I don’t think they are important in the fight against money laundering.

Anyway I’m not saying money laundering doesn’t happen, it does… and that’s probably the best case use case for crypto and one of the pillars of its value-add. People who don’t care about legality won’t care if crypto is regulated away either. I’m just demonstrating it’s not free to get away with these crimes. Plenty of people get nailed for money laundering every year.

[ Parent | on HN ]