I assume everyone has heard about this one by now...

Cabin111 said:
Now here is a play...Buy people's crypto, who own this, for say 5 cents on the dollar. If it gets resolved, big bucks!! Anyone willing to put $5,000. on this to gain $100,000. Don't know what the market would do in this crypto after the laptop got unloosed...??
Could you get it for one cent on the dollar??
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WTF. No it doesn't work that way.

Extremely slim chance the private keys are lying around somewhere. You really need to stop talking about things you know nothing about.
 
sle said:
While intriguing, faking your own death in the modern society is virtually impossible, IMHO. More importantly, he would not be able to retrieve money from cold storage undetected, which would defeat the purpose of faking death.
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There will be ways, trust me. The money is virtual; it doesn't exist except in some bytes and bits!! Faking death would be hard in developed world with advanced surveillance technology but in India?? A country with 1.3 billion people and relatively lax technology? People who have disappeared in USA have managed to live as someone else undetected for 20+ years before getting caught. Spending $190 million in 20+ years would be plenty.
 
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I'm just curious, how is crypto treated in bankruptcy and estate filings?? Is it the current market value at the time of filing?? Notes and deeds of trust are usually discounted on the open market since most will not get 100% of value sold. Would like to hear how crypto is treated...

Also would love to hear how a CPA or attorney would treat this case in a filing...
 
tsznecki said:
Extremely slim chance the private keys are lying around somewhere.
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So you are saying, THERE IS a chance? Also, if the deceased happens to be found alive, now what odds are we putting on that?

Depending on just how big of an idiot the dead guy was, the chance of recovery isn't zero. So it is perfectly logical for companies betting on recovery and buying up claims...
 
sle said:
faking your own death in the modern society
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Well, we are talking about India here.... Sure, the coins later on washed through a tumbler is an indication of him being alive, but plausible deniability is all he needs...

As long as he can quickly cash out enough (obviously not all) to live on for the next few decades the trick could pay off....

I am just toying with the idea here: First he needs a few quiet months to establish new identity and maybe a little face change,etc. Also the news cycle move on. Then he can start to withdraw coins, put them through tumblers a few times and start to cash out. This is the one operation that requires speed and possible crypto ATMs...

I am surprised Hollywood hasn't caught on to this type of crime stories yet...
 
stevegee58 said:
The usual advice to average hodlers is to *not* store their BTC in online wallets including crypto-broker accounts. Store BTC in your own cold-storage wallet and keep a printed backup somewhere secure offsite. The deceased CEO had the right idea using a cold storage wallet but he lacked a backup plan.
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So his right idea was useless. He should have had 2 right ideas or none.
 
Pekelo said:
The disappearing industry in India is a good business. Doctors give out death certificates left and right. 190 MM is enough to start a new life, maybe get a face change too, if you are already there...
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They can show his dead body, no? Or did he disappear too like the coins?
 
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