Cryptocurrency We have seen usurpers before. However, the US announced a major collective penalty today. In our security warnings to cryptocurrency investors, we were warning them to “avoid giving details about your savings to people around you.” This is actually about the fact that there are those who want to obtain your assets through force. These incidents have happened in Turkey and all around the world.
They Broke into a House and Stole Crypto
The US Department of Justice announced that 12 people were sentenced and gave the details. The sentences are extremely deterrent and they will not get away with prison. They will also have to pay hundreds of thousands of dollars in fines. A Florida man was sentenced to 47 years in prison for his leadership role in a 12-man gang. 25-year-old Remy Ra St Felix and his accomplices stole more than $3.5 million at gunpoint with SIM Swap.
Starting in late 2020, St. Felix’s accomplice Jarod Gabriel Seemungal, 23, of West Palm Beach, and his foreign accomplices stole cryptocurrencies from victims’ exchange accounts, according to court documents and evidence presented at the hearing. cryptocurrency investors They were tied with plastic handcuffs, threatened with death, and even kidnapped to deserted places.
St. Felix and Seemungal’s accomplices received sentences of 12 to 25 years in prison. Seemungal will serve 20 years in prison and five years of supervised release, plus pay $4.38 million in restitution.
Cryptocurrency Investors in Danger
The latest Justice Department announcement shows that no matter how cautious and careful you are in the virtual world, your cryptocurrencies can still be stolen when a gun is pointed at your head. That’s why investors with a certain amount of assets need to take similar precautions for crypto as they do for gold and foreign exchange.
There are countless precautions you can take, from keeping your cold storage or recovery phrases (encrypted) in a safe to obtaining a gun permit. But the best approach seems to be to remain as secretive about your investments as possible to the people around you. This way, you can keep your assets safe from attackers.
We should open a little parenthesis here. Tornado Cash This is why many prominent names in the crypto world opposed the lawsuit against the founder of the crypto mixer. These people also want to hide their assets from the outside world and potential criminals. For example, when you order food from a place abroad that accepts crypto payments, the courier can easily see your total wealth along with your connected wallets when you pay.
This is the same as when you make a payment from your bank account and the other party sees your balance. However, since crypto mixers are also used for the purpose of secrecy for wealth, it is not only useful for criminals but also for innocent people. Innocent and rich cryptocurrency investors.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
