> There they found “cocaine, computers, mobile phones, a diamond ring, $70,000 cash and $350,000 worth of cryptocurrency“.<p>Yet the headline and article largely ignore the other stuff found in the guy’s home and for some reason focus on the cryptocurrency. I guess it draws more eyeballs than “cops find a bunch of valuable stuff in drug raid.”
Mainstream media article<p><a href="https://www.google.com.au/amp/s/amp.smh.com.au/national/nsw/vaucluse-man-arrested-over-dark-web-drug-importation-ring-20180608-p4zk7v.html" rel="nofollow">https://www.google.com.au/amp/s/amp.smh.com.au/national/nsw/...</a>
The amazing thing about this is that cryptography could not be used (or was simply neglected) in order to secure cryptocurrency.<p>People did not take care to lock their cryptographically secure currency behind strong encryption, to preclude awareness of the belongings at all or siezure thereof.
they must have been dumb to keep the only copy of the keys on a hard drive. should have committed the 12 words to memory or put it on an encrypted google drive or something
I'm guessing that means his storage wallet wasn't BIP38 encrypted. There's a lesson there, even if we are learning it from a drug dealer.