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Two Reddit Guys are chasing down a thief who stole $220 million in Bitcoins.


Stashed in: Reddit!, Crime!, Cryptocurrency

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Two guys on Reddit who were enraged when someone stole as much as $100 million in Bitcoins from "Sheep Marketplace," an illegal online drug sales web site, believe the thief has passed the cash through a Bitcoin wallet that at one point contained as much as $220 million.

The thief is currently attempting to hide a stash of at least 96,000 Bitcoins (about $100 million), the pair said in a conversation on Reddit.

The two Reddit users, "SheepReloaded2" and "NodManOut" have become heroes on a subreddit dedicated to tracking the thief. They believe the theft — which Business Insider told you about yesterday — is one of the largest heists in history.

But there is just one problem (for the thief): His haul is so huge it sticks out like a sore thumb whenever he tries to launder the money. And his pursuers believe he will be unable to cash out a sum that large without revealing himself. "He has 1% of the world's bitcoins. Its hard to clean and sell more than 4 or 5 btc at a time," SheepReloaded2 says.

That's the thing with bitcoins, you can't run, you can't hide.  They are completely traceable through unbreakable crypto.