Coins from Sheep found and One guy traces them all

[gman76432]

some guy chased him down.  pleas follow this and share with everyone so we can take him down.  thanks


http://www.reddit.com/r/SheepMarketplace/comments/1rvlft/i_just_chased_him_through_a_bitcoin_tumbler_and/

https://blockchain.info/address/1CbR8da9YPZqXJJKm9ze1GYf67eKAUfXwP

[BuckshoT]

crazy

[Zuxitol0]

If tumblers can be beaten then that's a problem. If a single persistent guy can beat two tumbles god knows what the fuck the FBI can do. Damn.

Still props to him!

[BuckshoT]

The Forbes magazine article stated that the government is still capable of tracking the bitcoins even through a tumbler. Didn't know whether to believe it or not until now I guess

[99herps]

The Forbes magazine article stated that the government is still capable of tracking the bitcoins even through a tumbler. Didn't know whether to believe it or not until now I guess

That article didn't demonstrate what you indicate. They started with information that the feds wouldn't have.

[BuckshoT]

The Forbes magazine article stated that the government is still capable of tracking the bitcoins even through a tumbler. Didn't know whether to believe it or not until now I guess

That article didn't demonstrate what you indicate. They started with information that the feds wouldn't have.

Oh ok

[throwaway1]

wow!!!

that guy on reddit did a good job!

the owner of sheep will be brought down in two ways:

either leo will catch him

or

he will be kidnapped, robbed of the coins, and then killed.

nobody steal from that guy that chased the sheep owner down, he will fucking find you!

[JollyRoger]

 This is like a jolly treasure hunt. I hope the thief surfaces in my region. We'll get those coins returned and change the entire world in the process!

[Baraka]

This guy is a fucking genius!!! Mad props to him and also gman who shared this piece of good news here.

some guy chased him down.  pleas follow this and share with everyone so we can take him down.  thanks


http://www.reddit.com/r/SheepMarketplace/comments/1rvlft/i_just_chased_him_through_a_bitcoin_tumbler_and/

https://blockchain.info/address/1CbR8da9YPZqXJJKm9ze1GYf67eKAUfXwP

[Yoda]

$100 million now?  Hmm.    To put things in perspective; when SR-1 went down, the feds only got $3.6 million.   And this guy is telling us that SM had $100 million on it?  A lot of big claims made in that thread.


So a team at a German University analyzes bitconfog and verifies that it mixes coin... but some random 2 day old reddit user posts one thread, and all of you believe him instead?  Why am I not surprised. 

https://www.wi.uni-muenster.de/sites/default/files/public/department/itsecurity/mbc13/mbc13-moeser-paper.pdf

In this paper
we evaluate three of these services – Bitcoin Fog, BitLaun-
dry, and the Send Shared functionality of Blockchain.info
– by analyzing the transaction graph. While Bitcoin Fog
and Blockchain.info successfully mix our transaction, we are
able to find a direct relation between the input and output
transactions in the graph of BitLaundry.

Also, reading through this reddit I still fail to see how this author first identified this 96K Btc to be from SM.  It's not like he can deposit into his SM account which would then be forwarded to the scammers jackpot.

I'm no bitcoin guru, but lets using a little critical thinking... what's the point all his 0.00666 transactions?  To send shit, you need to know the wallet address first, correct? It's not like sending this identifies any new wallet or something.  Just because someone has a ton of coin, doesn't mean it came from SM.  Nor does watching the blockchain for a big wallet equate to defeating bitcoinfog.

Personally, I'm writing this reddit post off as another coachella special... albeit a well written one.  (at least until some legit backs this shit up)

[DrMDA]

Ok first of all BitCoinFog is NOT a good tumbler despite being more expensive then all others. I'm not going to look it up but I read an academic paper by a US university that said BTCfog could be easily traced but Blockchain's "shared send" could not.

[Yoda]

Ok first of all BitCoinFog is NOT a good tumbler despite being more expensive then all others. I'm not going to look it up but I read an academic paper by a US university that said BTCfog could be easily traced but Blockchain's "shared send" could not.

You mean the paper I linked above?

That's the only legit paper I know of... and it claims BitLaundry is the mixer that sucks, not bitcoinfog.

[DrMDA]

Ok first of all BitCoinFog is NOT a good tumbler despite being more expensive then all others. I'm not going to look it up but I read an academic paper by a US university that said BTCfog could be easily traced but Blockchain's "shared send" could not.

You mean the paper I linked above?

That's the only legit paper I know of... and it claims BitLaundry is the mixer that sucks, not bitcoinfog.

Nope it was a US university. In the South West. I think the professor was a woman. I'm not looking for it though.

[KAKAKIII]

Good that there is a lead to this thieving bastard who has stolen the earnings of others, shit the bitcoins can be traced so what you ? wanna leave that's your fucking choice either way your life will still be a misery without SR so your either stay and make some fucking money or just shut up. Who cares someone always ends up bad one way or the other you are either in prison, in your grave or having some fucking great time, and giving people back the freedom to decide what they fucking do with their lives. The fight is yet to begin !!!
KAKAKIII

[Dread Pirate Roberts]

You should never rely on 1 tumbler. Bitcoinfog has known owners who can easily be bent to the will of governments to reveal data and the only repercussion of them lying about keeping logs will be non-criminal charges and we are not in a position to take them to the courts are we. If you have a single point of failure, you are entrusting your freedom to another party.

[Yoda]

You should never rely on 1 tumbler. Bitcoinfog has known owners who can easily be bent to the will of governments to reveal data and the only repercussion of them lying about keeping logs will be non-criminal charges and we are not in a position to take them to the courts are we. If you have a single point of failure, you are entrusting your freedom to another party.

Not that I have to worry about this, but for the sake of theory/explaining it to total noobs etc... If one tumbler doesn't do the job like you stated could be the case, what would adding a second tumbler do?  That too could have the same failure, no?  Just making it a longer trace.  Perfection remains elusive, does it not?

[inanna]

Am I missing something. That address has had 400,000 bitcoins moved through it it is obviously just an exchanges wallet.

[Fractal Llama]

Not that I have to worry about this, but for the sake of theory/explaining it to total noobs etc... If one tumbler doesn't do the job like you stated could be the case, what would adding a second tumbler do?  That too could have the same failure, no?  Just making it a longer trace.  Perfection remains elusive, does it not?

The more tumblers that you use, the more that have to be compromised for you to be identified. If you use 2 tumblers, and one is compromised, you're still safe, as the 2nd will need to be compromised for identification (but how can you know that the tumblers you use aren't compromised?). My advice is to purchase bitcoins anonymously in the first place if possible, storing them in an Electrum wallet on Linux Tails (there's a nice tutorial here copy-and-pasted from SR 1.0).

[Yoda]

The more tumblers that you use, the more that have to be compromised for you to be identified. If you use 2 tumblers, and one is compromised, you're still safe, as the 2nd will need to be compromised for identification (but how can you know that the tumblers you use aren't compromised?). My advice is to purchase bitcoins anonymously in the first place if possible.

I'm not retarded. 

But, yeah... thanks.

[trava]

$100 million now?  Hmm.    To put things in perspective; when SR-1 went down, the feds only got $3.6 million.   And this guy is telling us that SM had $100 million on it?  A lot of big claims made in that thread.


So a team at a German University analyzes bitconfog and verifies that it mixes coin... but some random 2 day old reddit user posts one thread, and all of you believe him instead?  Why am I not surprised. 

https://www.wi.uni-muenster.de/sites/default/files/public/department/itsecurity/mbc13/mbc13-moeser-paper.pdf

In this paper
we evaluate three of these services – Bitcoin Fog, BitLaun-
dry, and the Send Shared functionality of Blockchain.info
– by analyzing the transaction graph. While Bitcoin Fog
and Blockchain.info successfully mix our transaction, we are
able to find a direct relation between the input and output
transactions in the graph of BitLaundry.

Also, reading through this reddit I still fail to see how this author first identified this 96K Btc to be from SM.  It's not like he can deposit into his SM account which would then be forwarded to the scammers jackpot.

I'm no bitcoin guru, but lets using a little critical thinking... what's the point all his 0.00666 transactions?  To send shit, you need to know the wallet address first, correct? It's not like sending this identifies any new wallet or something.  Just because someone has a ton of coin, doesn't mean it came from SM.  Nor does watching the blockchain for a big wallet equate to defeating bitcoinfog.

Personally, I'm writing this reddit post off as another coachella special... albeit a well written one.  (at least until some legit backs this shit up)

when the shipple was stealing buyers money before the withdrawal problems, the guy on reedit followed hid stolen coin on the blockchain leading him to a wallet and once he stole everything and closed sheep thats when all the money started coming together, they uncovered wallets with loads of coins which the guy started unloading and putting together aswell - possibly stash from other markets, atlantis anyone?

and $3.6million coin from sr was from like 1days worth snapshot

[Agent]

Ok first of all BitCoinFog is NOT a good tumbler despite being more expensive then all others. I'm not going to look it up but I read an academic paper by a US university that said BTCfog could be easily traced but Blockchain's "shared send" could not.

You mean the paper I linked above?

That's the only legit paper I know of... and it claims BitLaundry is the mixer that sucks, not bitcoinfog.

Nope it was a US university. In the South West. I think the professor was a woman. I'm not looking for it though.

I would like to look for it if you could give me some more information that you may remember ?

[longflights]

The reddit OPs work is legit, its just a lot of reading and time consuming clicking to verify what hes claiming. I dont think sheep is the first scam that guy has gotten away with, which would explain the huge amount of coins hes in possession of. Its going to be near impossible for the scammer to "tumble" those coins out of view, the amounts are just too large. We just need to hope this guy keeps up his work tracing the stolen coins. The next few weeks should be interesting.

[trava]

i think some of us should chip in to help this guy

besides this is gonna boom coin prices

[p3nd8s]

Apparently the SheepMarket thief stole 96,000 BTC, that's roughly $96,000,000. He used bitcoin fog to launder the coins, they charge up to 3% as a fee for tumbling the coins. This means bitcoinfog made up to $2,880,000 today by tumbling the coins. Wow!

[thyme]

Ok first of all BitCoinFog is NOT a good tumbler despite being more expensive then all others. I'm not going to look it up but I read an academic paper by a US university that said BTCfog could be easily traced but Blockchain's "shared send" could not.

You mean the paper I linked above?

That's the only legit paper I know of... and it claims BitLaundry is the mixer that sucks, not bitcoinfog.

Nope it was a US university. In the South West. I think the professor was a woman. I'm not looking for it though.

I would like to look for it if you could give me some more information that you may remember ?

The Fistful of Bitcoins paper?
hxxp://cseweb.ucsd.edu/~smeiklejohn/files/imc13.pdf

Fix link and use samurai or other viewer if PDF concerns and not using vm.

[ChocolateBunnies]

You should never rely on 1 tumbler. Bitcoinfog has known owners who can easily be bent to the will of governments to reveal data and the only repercussion of them lying about keeping logs will be non-criminal charges and we are not in a position to take them to the courts are we. If you have a single point of failure, you are entrusting your freedom to another party.

I didnt know bitcoinfog owners were known, why else would they bother making it a hidden service??? Thanks for the advice, i hope this doesnt mean all the coins i sent through the fog can be traced back to me!!!

Damn whats the alternative though, blockchain has known owners too.

[Anomos13]

So whoever gets him,
can get his bitcoins too i guess,
since i guess he cant go to police and say
i was operating illegal market, and now people hunt me..
unless he prefer go jail alone...

[Pot]

The tumbler is not the problem...it is the fact that he attempted to tumble 96,000 bitcoins at once.

The whole goal is for the coins to go inside the tumbler, them to mix inside several wallets and bounce around within the system, then leave.

The goal is to exit with someone elses bitcoins, how many do you think are deposited per day? Per month? Probably nowhere near 96,000.

Bitcoin Fog recommends leaving your bitcoins in the tumbler for a week if you have $1000 bitcoins. How long do you think it would take to properly tumble ~$100 million?

This is not a flaw with the tumbler. Tumblers are not magic.

[inanna]

I'll say it again.

This address has had over 400,000 bitcoins through it in the last year. These are not sheep coins so talking about the hypothetical drawbacks of tumblers doesn't really matter.

[subtickle]

The tumbler is not the problem...it is the fact that he attempted to tumble 96,000 bitcoins at once.

The whole goal is for the coins to go inside the tumbler, them to mix inside several wallets and bounce around within the system, then leave.

The goal is to exit with someone elses bitcoins, how many do you think are deposited per day? Per month? Probably nowhere near 96,000.

Bitcoin Fog recommends leaving your bitcoins in the tumbler for a week if you have $1000 bitcoins. How long do you think it would take to properly tumble ~$100 million?

This is not a flaw with the tumbler. Tumblers are not magic.

Surprised it took 15 posts for anyone to mention this. You cannot tumble such a large number of coins in a day successfully. Tumblers are far from broken.

[DozerBlozer]

Oh man I can't wait this guy is toast what goes around comes around!

[thecatisback]

String em up hang em hang em!

[DozerBlozer]

What a dumb ass?? Are you serious he tried to tumble all those coins at once??? Lmao who is this guy? Not the brightest in the bunch now is he??

[Northwest Nuggets]

I'll say it again.

This address has had over 400,000 bitcoins through it in the last year. These are not sheep coins so talking about the hypothetical drawbacks of tumblers doesn't really matter.

I don't understand how "This address has had over 400,000 bitcoins through it in the last year." implies "These are not sheep coins".  Can you explain how the wallet having had over 400,000 bitcoins in the last year means that the bitcoins it has now must not be from Sheep?

[inanna]

My point is only that this obviously isn't a personal wallet and I haven't seen any proof linking the 40 million wallet to this so.....

I'm writing this off as meth induced fud. The way people in this thread are making it sound that 96 million of coin from sheep have made it into this wallet I see no proof of that.

[Mr Lucy]

can someone pm me the link to btcfog, please?

[thecatisback]

Don't use Bitfog are you nuts do you want your coins stolen again?

[Eduardo]

Was this not old news and was disproved?

[thecatisback]

Really? I don't think it was disproved?

[tankfly]

Was this not old news and was disproved?

It was disproved.
A user tracked his coin by sending .00000666 to a wallet used by the sheepmarket scammers, this allowed him to track the block chain to BTC-E wallet.

Former customers of Sheep banded together, and discovered a bitcoin wallet holding 96,000 bitcoins which seemed to be linked to the thefts. At the exchange rate at the time, that was worth a little over $100m...

And then the truth dawned: far from being a holding account for the biggest bitcoin theft in history, the wallet was actually part of the internal workings of BTC-E, an exchange where users can trade bitcoins for conventional currency.

[ahh bisto]

crazy.. never liked bitcoin fog myself. is there any other tumblers ? maybe send it threw both ? i dunno thats really worrying.

Blockchain shared send is good ive been told and only 0.5% fee

[Tommy Hilfiger]

It is also very easy to use.