Fedbois Bust BTC Maxi with 50k BTC, Due to 0.07 BTC Sent to the Wrong Change Address

Fedbois Bust BTC Maxi with 50k BTC, Due to 0.07 BTC Sent to the Wrong Change Address


This one takes the cake. From multiple angles, this the most caricaturized and perfect little microcosm of the sheer idiocy permeating the world of non fungible tokens. But okay, from the beginning ...

This dude found an error on Silk Road, and was able to keep withdrawing the same funds repeatedly, and lifted 50k BTC off Ross Ulbrict. Like a good maxi, hodled almost all of it. Even dumped his bcash.

Predictably, he failed (refused?) to wash it through Monero.

Then in 2019, he sent a stash of 118 BTC to a KYC exchange. In the txn, he received back [get this] 0.07 to a change address. Unfortunately, that change UTXO was associated with the Silk Road coins he lifted.

Billions of dollars, gone. Months in jail. Over a goddamn 0.07 in change.

This guy wasn't some newb. He's been in it since the beginning. No doubt this maxi knew about security, UTXO mgmt, etc. Point is, if this guy can't get it right, neither can 99.99% of everyone else.

In response to this story, someone said to me:

It probably would've taken years to wash it with Monero

Which is literally what everyone says every single time this happens. So let's break this down, and we will see how ridiculous this is.

Okay, so we hear these stories all the time now. Dozens of people out there with tens of 1000s of BTC over the years who all got pwned years after the fact. And despite having billions of dollars and a made life, decide that they don't want to endure the slippage of getting into XMR.

Imagine if they had done the right thing (not just morally, but just to save their own asses) ... Imagine if they had dropped even 10% of those funds into XMR, and accepted the price slippage. What kind of social attention (hype), marketcap, additional investment, and of course volumes that the collective action of these dozens of individuals would have caused by moving hundreds of 1000s, even millions of BTC through XMR.

Together, they would literally have created the conditions and the market for Monero to solve the only problem that they had; which of course was don't get fucking caught.

But no. They're always like, "There's not enough muhnero liquidity to wash my funds. I guess I'll just keep fucking around with Bitcoin and eventually fuck up and go to prison instead."

But you know what? Fuck em. They had the opportunity to do something truly good for the world, get Monero the attention and price it deserves. They had the opportunity to save their own ass by just converting to XMR over the years, accepting the slippage, and calling it a day. The 2018/19 bear market was a perfect opportunity for them. It still is a perfect opportunity even now.

And altho the Fed bois are their own brand of evil, I have very little sympathy for people who get busted like this.