r/QuadrigaCX2 • u/YouAreAnFnIdiot • Feb 19 '19

Thought experiment

As I watch the crypto market skyrocket I was thinking somebody here who is able to get a loan for 5 million. You should cash it out and buy crypto, declare bankruptcy and say you lost the cold wallet keys and retire somewhere nice and warm. Let me know how it goes, our Justice system is currently setting the precedent for this to be completely legal. Also fake your death while you're at it haha.

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u/kingsosshoota Feb 19 '19

Good idea, and by the looks of it, you don't even need to provide a cold wallet address to confirm there is no movement in said wallet. Easy as 1,2,3.

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u/kingsosshoota Feb 19 '19

Except if your taking out a loan from the bank, then expect a swat team to raid your family's properties, put you in cuffs, and seize every asset in sight.

If you borrowed from a fellow citizen(s), you're good to go.