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mike9132 t1_ivjnicl wrote

I thought unless you had the seed phrase you couldn't touch it?

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Fetlocks_Glistening t1_ivk76fy wrote

I mean if all they were sentenced to was to pay a 100k fine and they also had other assets, then better to just comply with the court order and hand over the coin private key and go on with your life, rather than refuse, get thrown in jail or your house seized and sold for the debt?

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root_over_ssh t1_ivlaa1i wrote

Cryptocurrency is seized by obtaining the key.

Either they find the device that stored the key or obtain access to an account that controlled the keys. Often done by seizing USB drives or getting access to email/cloud storage accounts.

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mike9132 t1_ivlawws wrote

So hypothetically, if the device storing the key was never found and for whatever reason the private key remained unknown?

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plumberoncrack t1_ivm4sg3 wrote

Yeah, in that case there is literally no way of taking control of the Bitcoin. BTC is based on cryptography that would take the fastest computers about 40,000 years to break into a single wallet.

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coriolisFX t1_iw39kpi wrote

How's that 401(k) bet working out for you?

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plumberoncrack t1_iw3znzu wrote

~5% unrealized losses. I have a low time preference, ask me again in 4 years.

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Wendals87 OP t1_ivlp8hu wrote

my guess is that they used a CEX, in which case the authorities were able to get access (with a warrant and all the legal requirements met)

Its like your password to your phone. They can't force you to give it up, but if they find it by other means or offer you a deal they can get access

If they had it in self custody and the seed phrase was never given up, they couldn't get access BUT it would be watched for any movement and they would catch them at any point they made a mistake

They wouldn't be able to spend it

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Keffpie t1_ivnsvce wrote

Yup. Also this was Sweden, better to just cooperate and do your time if you're guilty.

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