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/r/Scams Common Scam Master Post

Hello visitors and subscribers of scams! Here you will find a master list of common (and uncommon) scams that you may encounter online or in real life. Thank you to the many contributors who helped create this thread!

If you know of a scam that is not covered here, write a comment and it will be added to the next edition.

Previous threads: https://old.reddit.com/Scams/search?q=common+scams+master+post&restrict_sr=on
Blackmail email scam thread: https://www.reddit.com/Scams/comments/jij7zf/the_blackmail_email_scam_part_6/
Some of these articles are from small, local publications and refer to the scam happening in a specific area. Do not think that this means that the scam won't happen in your area.

Spoofing

Caller ID spoofing
It is very easy for anyone to make a phone call while having any number show up on the caller ID of the person receiving the phone call. Receiving a phone call from a certain number does not mean that the person/company who owns that number has actually called you.
Email spoofing
The "from" field of an email can be set by the sender, meaning that you can receive scam emails that look like they are from legitimate addresses. It's important to never click links in emails unless absolutely necessary, for example a password reset link you requested or an account activation link for an account you created.
SMS spoofing
SMS messages can be spoofed, so be wary of messages that seem to be from your friends or other trusted people.

The most common scams

The fake check scam (Credit to nimble2 for this part)
The fake check scam arises from many different situations (for instance, you applied for a job, or you are selling something on a place like Craigslist, or someone wants to purchase goods or services from your business, or you were offered a job as a mystery shopper, you were asked to wrap your car with an advertisement, or you received a check in the mail for no reason), but the bottom line is always something like this:
General fraudulent funds scams If somebody is asking you to accept and send out money as a favour or as part of a job, it is a fraudulent funds scam. It does not matter how they pay you, any payment on any service can be fraudulent and will be reversed when it is discovered to be fraudulent.
Phone verification code scams Someone will ask you to receive a verification text and then tell you to give them the code. Usually the code will come from Google Voice, or from Craigslist. In the Google version of the scam, your phone number will be used to verify a Google Voice account that the scammer will use to scam people with. In the Craigslist version of the scam, your phone number will be used to verify a Craigslist posting that the scammer will use to scam people. There is also an account takeover version of this scam that will involve the scammer sending a password reset token to your phone number and asking you for it.
Bitcoin job scams
Bitcoin job scams involve some sort of fraudulent funds transfer, usually a fake check although a fraudulent bank transfer can be used as well. The scammer will send you the fraudulent money and ask you to purchase bitcoins. This is a scam, and you will have zero recourse after you send the scammer bitcoins.
Email flooding
If you suddenly receive hundreds or thousands of spam emails, usually subscription confirmations, it's very likely that one of your online accounts has been taken over and is being used fraudulently. You should check any of your accounts that has a credit card linked to it, preferably from a computer other than the one you normally use. You should change all of your passwords to unique passwords and you should start using two factor authentication everywhere.
Cartel scam
You will be threatened by scammers who claim to be affiliated with a cartel. They may send you gory pictures and threaten your life and the lives of your family. Usually the victim will have attempted to contact an escort prior to the scam, but sometimes the scammers target people randomly. If you are targeted by a cartel scam all you need to do is ignore the scammers as their threats are clearly empty.
Boss/CEO scam A scammer will impersonate your boss or someone who works at your company and will ask you to run an errand for them, which will usually be purchasing gift cards and sending them the code. Once the scammer has the code, you have no recourse.
Employment certification scams
You will receive a job offer that is dependent on you completing a course or receiving a certification from a company the scammer tells you about. The scammer operates both websites and the job does not exist.
Craigslist fake payment scams
Scammers will ask you about your item that you have listed for sale on a site like Craigslist, and will ask to pay you via Paypal. They are scamming you, and the payment in most cases does not actually exist, the email you received was sent by the scammers. In cases where you have received a payment, the scammer can dispute the payment or the payment may be entirely fraudulent. The scammer will then either try to get you to send money to them using the fake funds that they did not send to you, or will ask you to ship the item, usually to a re-shipping facility or a parcel mule.
Craigslist Carfax/vehicle history scam
You'll encounter a scammer on Craigslist who wants to buy the vehicle you have listed, but they will ask for a VIN report from a random site that they have created and they will expect you to pay for it.
Double dip/recovery scammers
This is a scam aimed at people who have already fallen for a scam previously. Scammers will reach out to the victim and claim to be able to help the victim recover funds they lost in the scam.
General fraudulent funds scams The fake check scam is not the only scam that involves accepting fraudulent/fake funds and purchasing items for scammers. If your job or opportunity involves accepting money and then using that money, it is almost certainly a frauduent funds scam. Even if the payment is through a bank transfer, Paypal, Venmo, Zelle, Interac e-Transfer, etc, it does not matter.
Credit card debt scam
Fraudsters will offer to pay off your bills, and will do so with fraudulent funds. Sometimes it will be your credit card bill, but it can be any bill that can be paid online. Once they pay it off, they will ask you to send them money or purchase items for them. The fraudulent transaction will be reversed in the future and you will never be able to keep the money. This scam happens on sites like Craigslist, Twitter, Instagram, and also some dating sites, including SeekingArrangement.
The parcel mule scam
A scammer will contact you with a job opportunity that involves accepting and reshipping packages. The packages are either stolen or fraudulently obtained items, and you will not be paid by the scammer. Here is a news article about a scam victim who fell for this scam and reshipped over 20 packages containing fraudulently acquired goods.
The Skype sex scam
You're on Facebook and you get a friend request from a cute girl you've never met. She wants to start sexting and trading nudes. She'll ask you to send pictures or videos or get on webcam where she can see you naked with your face in the picture. The scam: There's no girl. You've sent nudes to a guy pretending to be a girl. As soon as he has the pictures he'll demand money and threaten to send the pictures to your friends and family. Sometimes the scammer will upload the video to a porn site or Youtube to show that they are serious.
What to do if you are a victim of this scam: You cannot buy silence, you can only rent it. Paying the blackmailer will show them that the information they have is valuable and they will come after you for more money. Let your friends and family know that you were scammed and tell them to ignore friend requests or messages from people they don't know. Also, make sure your privacy settings are locked down and consider deactivating your account.
The underage girl scam
You're on a dating site or app and you get contacted by a cute girl. She wants to start sexting and trading nudes. Eventually she stops communicating and you get a call from a pissed off guy claiming to be the girl's father, or a police officer, or a private investigator, or something else along those lines. Turns out the girl you were sexting is underage, and her parents want some money for various reasons, such as to pay for a new phone, to pay for therapy, etc. There is, of course, no girl. You were communicating with a scammer.
What to do if you are a victim of this scam: Stop picking up the phone when the scammers call. Do not pay them, or they will be after you for more money.
Phishing
Phishing is when a scammer tries to trick you into giving information to them, such as your password or private financial information. Phishing messages will usually look very similar to official messages, and sometimes they are identical. If you are ever required to login to a different account in order to use a service, you should be incredibly cautious.
The blackmail email scam part 5: https://old.reddit.com/Scams/comments/g8jqnthe_blackmail_email_scam_part_5/
PSA: you did not win a giftcard: https://old.reddit.com/Scams/comments/fffmle/psa_you_did_not_win_a_gift_card/
Sugar scams
Sugar scammers operate all over the internet and usually come in two varieties: advance-fee scams where the scammer will ask for a payment from you before sending you lots of money, and fake check style scams where the scammer will either pull a classic fake check scam, or will do a "bill pay" style scam that involves them paying your bills, or them giving you banking information to pay your bills. If you encounter these scammers, report their accounts and move on.
Google Hangouts
Google Hangouts is a messaging platform used extensively by all kinds of scammers. If you are talking with someone online and they want you to switch to Hangouts, they are likely a scammer and you should proceed with caution.
Publishers Clearing House scams
PCH scams are often advance-fee scams, where you will be promised lots of money after you make an initial payment. You will never need to pay if you win money from the real PCH.
Pet scams
You are looking for a specific breed of puppy, bird, or other pet. You come across a nice-looking website that claims to be breeding them and has some available right now - they may even be on sale! The breeders are not local to your area (and may not even list a physical location) but they assure you they can safely ship the pet to you after a deposit or full payment. If you go through with the payment, you will likely be contacted by the "shipper" who will inform you about an unexpected shipping/customs/processing fee required to deliver your new pet. But there was never any pet, both the "breeder" and the "shipper" are scammers, typically operating out of Africa. These sites are rampant and account for a large percentage of online pet seller websites - they typically have a similar layout/template (screenshot - example)
If you are considering buying a pet online, some easy things to check are: (1) The registration date of the domain (if it was created recently it is likely a scam website) (2) Reverse image search the pictures of available pets - you will usually find other scam websites using the same photos. (3) Copy a sentence/section of the text from the "about us" page and put it into google (in quotes) - these scammers often copy large parts of their website's text from other places. (4) Search for the domain name and look for entries on petscams.com or other scam-tracking sites. (5) Strongly consider buying/adopting your pet from a local shelter or breeder where you can see the animal in person before putting any money down.
Thanks to djscsi for this entry.
Fake shipping company scams
These scams usually start when you try to buy something illegal online. You will be scammed for the initial payment, and then you will receive an email from the fake shipping company telling you that you need to pay them some sort of fee or bribe. If you pay this, they will keep trying to scam you with increasingly absurd stories until you stop paying, at which point they will blackmail you. If you are involved in this scam, all you can do is ignore the scammers and move on, and try to dispute your payments if possible.
Chinese Upwork scam
Someone will ask you to create an Upwork or other freelancer site account for them and will offer money in return. You will not be paid, and they want to use the accounts to scam people.
Quickbooks invoice scam
This is a fake check style scam that takes advantage of Quickbooks.
The blackmail email scam The exact wording of the emails varies, but there are generally four main parts. They claim to have placed software/malware on a porn/adult video site, they claim to have a video of you masturbating or watching porn, they threaten to release the video to your friends/family/loved ones/boss/dog, and they demand that you pay them in order for them to delete the video. Rest assured that this is a very common spam campaign and there is no truth behind the email or the threats. Here are some news articles about this scam.
The blackmail mail scam
This is very similar to the blackmail email scam, but you will receive a letter in the mail.
Rental scams Usually on local sites like Craigslist, scammers will steal photos from legitimate real estate listings and will list them for rent at or below market rate. They will generally be hesitant to tell you the address of the property for "safety reasons" and you will not be able to see the unit. They will then ask you to pay them a deposit and they claim they will ship you the keys. In reality, your money is gone and you will have no recourse.
Craigslist vehicle scams A scammer will list a vehicle on Craigslist and will offer to ship you the car. In many cases they will also falsely claim to sell you the car through eBay or Amazon. If you are looking for a car on Craigslist and the seller says anything about shipping the car, having an agent, gives you a long story about why they are selling the car, or the listing price is far too low, you are talking to a scammer and you should ignore and move on.
Advance-fee scam, also known as the 419 scam, or the Nigerian prince scam. You will receive a communication from someone who claims that you are entitled to a large sum of money, or you can help them obtain a large sum of money. However, they will need money from you before you receive the large sum.
Man in the middle scams
Man in the middle scams are very common and very hard to detect. The scammer will impersonate a company or person you are legitimately doing business with, and they will ask you to send the money to one of their own bank accounts or one controlled by a money mule. They have gained access to the legitimate persons email address, so there will be nothing suspicious about the email. To prevent this, make contact in a different way that lets you verify that the person you are talking to is the person you think you are talking to.
Digit wallet scam
A variation of the fake check scam, the scammer sends you money through a digital wallet (i.e. Venmo, Apple Pay, Zelle, Cash App) along with a message claiming they've sent the money to the wrong person and a request to send the money back. Customer service for these digital wallets may even suggest that you send the money back. However, the money sent is from a stolen credit card and will be removed from your account after a few days. Your transfer is not reversed since it came from your own funds.
Cam girl voting/viewer scam
You will encounter a "cam girl" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to go to their site and sign up with your credit card. They may offer a free show, or ask you to vote for them, or any number of other fake stories.
Amateur porn recruitment scam
You will encounter a "pornstar" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to create an adult film with hehim, but first you need to do something. The story here is usually something to do with verifying your age, or you needing to take an STD test that involves sending money to a site operated by the scammer.
Hot girl SMS spam
You receive a text from a random number with a message along the lines of "Hey babe I'm here in town again if you wanted to meet up this time, are you around?" accompanied by a NSFW picture of a hot girl. It's spam, and they'll direct you to their scam website that requires a credit card.
Identity verification scam
You will encounter someone on a dating/messaging/social media/whatever site/app, and the scammer will ask that you verify your identity as they are worried about catfishing. The scammer operates the site, and you are not talking to whoever you think you are talking to.
This type of scam teases you with something, then tries to make you sign up for something else that costs money. The company involved is often innocent, but they turn a blind eye to the practice as it helps their bottom line, even if they have to occasionally issue refunds. A common variation takes place on dating sites/dating apps, where you will match with someone who claims to be a camgirl who wants you to sign up for a site and vote for her. Another variation takes place on local sites like Craigslist, where the scammers setup fake rental scams and demand that you go through a specific service for a credit check. Once you go through with it, the scammer will stop talking to you. Another variation also takes place on local sites like Craigslist, where scammers will contact you while you are selling a car and will ask you to purchase a Carfax-like report from a specific website.
Multi Level Marketing or Affiliate Marketing
You apply for a vague job listing for 'sales' on craigslist. Or maybe an old friend from high school adds you on Facebook and says they have an amazing business opportunity for you. Or maybe the well dressed guy who's always interviewing people in the Starbucks that you work at asks if you really want to be slinging coffee the rest of your life. The scam: MLMs are little more than pyramid schemes. They involve buying some sort of product (usually snake oil health products like body wraps or supplements) and shilling them to your friends and family. They claim that the really money is recruiting people underneath you who give you a slice of whatever they sell. And if those people underneath you recruit more people, you get a piece of their sales. Ideally if you big enough pyramid underneath you the money will roll in without any work on your part. Failure to see any profit will be your fault for not "wanting it enough." The companies will claim that you need to buy their extra training modules or webinars to really start selling. But in reality, the vast majority of people who buy into a MLM won't see a cent. At the end of the day all you'll be doing is annoying your friends and family with your constant recruitment efforts. What to look out for: Recruiters love to be vague. They won't tell you the name of the company or what exactly the job will entail. They'll pump you up with promises of "self-generating income", "being your own boss", and "owning your own company." They might ask you to read books about success and entrepreneurs. They're hoping you buy into the dream first. If you get approached via social media, check their timelines. MLMs will often instruct their victims to pretend that they've already made it. They'll constantly post about how they're hustling and making the big bucks and linking to youtube videos about success. Again, all very vague about what their job actually entails. If you think you're being recruited: Ask them what exactly the job is. If they can't answer its probably a MLM. Just walk away.

Phone scams

You should generally avoid answering or engaging with random phone calls. Picking up and engaging with a scam call tells the scammers that your phone number is active, and will usually lead to more calls.
Tax Call
You get a call from somebody claiming to be from your countries tax agency. They say you have unpaid taxes that need to be paid immediately, and you may be arrested or have other legal action taken against you if it is not paid. This scam has caused the American IRS, Canadian CRA, British HMRC, and Australian Tax Office to issue warnings. This scam happens in a wide variety of countries all over the world.
Warrant Call
Very similar to the tax call. You'll get a phone call from an "agent", "officer", "sheriff", or other law enforcement officer claiming that there is a warrant out for your arrest and you will be arrested very soon. They will then offer to settle everything for a fee, usually paid in giftcards.
[Legal Documents/Process Server Calls]
Very similar to the warrant call. You'll get a phone call from a scammer claiming that they are going to serve you legal documents, and they will threaten you with legal consequences if you refuse to comply. They may call themselves "investigators", and will sometimes give you a fake case number.
Student Loan Forgiveness Scam
Scammers will call you and tell you about a student loan forgiveness program, but they are interested in obtaining private information about you or demanding money in order to join the fake program.
Tech Support Call You receive a call from someone with a heavy accent claiming to be a technician Microsoft or your ISP. They inform you that your PC has a virus and your online banking and other accounts may be compromised if the virus is not removed. They'll have you type in commands and view diagnostics on your PC which shows proof of the virus. Then they'll have you install remote support software so the technician can work on your PC, remove the virus, and install security software. The cost of the labor and software can be hundreds of dollars. The scam: There's no virus. The technician isn't a technician and does not work for Microsoft or your ISP. Scammers (primarily out of India) use autodialers to cold-call everyone in the US. Any file they point out to you or command they have you run is completely benign. The software they sell you is either freeware or ineffective. What to do you if you're involved with this scam: If the scammers are remotely on your computer as you read this, turn off your PC or laptop via the power button immediately, and then if possible unplug your internet connection. Some of the more vindictive tech scammers have been known to create boot passwords on your computer if they think you've become wise to them and aren't going to pay up. Hang up on the scammers, block the number, and ignore any threats about payment. Performing a system restore on your PC is usually all that is required to remove the scammer's common remote access software. Reports of identity theft from fake tech calls are uncommon, but it would still be a good idea to change your passwords for online banking and monitor your accounts for any possible fraud. How to avoid: Ignore any calls claiming that your PC has a virus. Microsoft will never contact you. If you're unsure if a call claiming to be from your ISP is legit, hang up, and then dial the customer support number listed on a recent bill. If you have elderly relatives or family that isn't tech savvy, take the time to fill them in on this scam.
Chinese government scam
This scam is aimed at Chinese people living in Europe and North America, and involves a voicemail from someone claiming to be associated with the Chinese government, usually through the Chinese consulate/embassy, who is threatening legal action or making general threats.
Chinese shipping scam
This scam is similar to the Chinese government scam, but involves a seized/suspicious package, and the scammers will connect the victim to other scammers posing as Chinese government investigators.
Social security suspension scam
You will receive a call from someone claiming to work for the government regarding suspicious activity, fraud, or serious crimes connected to your social security number. You'll be asked to speak to an operator and the operator will explain the steps you need to follow in order to fix the problems. It's all a scam, and will lead to you losing money and could lead to identity theft if you give them private financial information.
Utilities cutoff
You get a call from someone who claims that they are from your utility company, and they claim that your utilities will be shut off unless you immediately pay. The scammer will usually ask for payment via gift cards, although they may ask for payment in other ways, such as Western Union or bitcoin.
Relative in custody Scammer claims to be the police, and they have your son/daughtenephew/estranged twin in custody. You need to post bail (for some reason in iTunes gift cards or MoneyGram) immediately or the consequences will never be the same.
Mexican family scam
This scam comes in many different flavours, but always involves someone in your family and Mexico. Sometimes the scammer will claim that your family member has been detained, sometimes the scammer will claim that your family member has been kidnapped, and sometimes the scammer will claim that your family member is injured and needs help.
General family scams
Scammers will gather a large amount of information about you and target your family members using different stories with the goal of gettimg them to send money.
One ring scam
Scammers will call you from an international number with the goal of getting you to return their call, causing you to incur expensive calling fees.

Online shopping scams

THE GOLDEN RULE OF ONLINE SHOPPING: If it sounds too good to be true, it probably is.
Dropshipping
An ad on reddit or social media sites like Facebook and Instagram offers items at huge discounts or even free (sometimes requiring you to reblog or like their page). They just ask you to pay shipping. The scam: The item will turn out to be very low quality and will take weeks or even months to arrive. Sometimes the item never arrives, and the store disappears or stops responding. The seller drop-ships the item from China. The item may only cost a few dollars, and the Chinese government actually pays for the shipping. You end up paying $10-$15 dollars for a $4 item, with the scammer keeping the profit. If you find one of these scams but really have your heart set on the item, you can find it on AliExpress or another Chinese retailer.
Influencer scams
A user will reach out to you on a social media platform, usually Instagram, and offer you the chance to partner with them and receive a free/discounted product, as long as you pay shipping. This is a different version of the dropshipping scam, and is just a marketing technique to get you to buy their products.
Triangulation fraud
Triangulation fraud occurs when you make a purchase on a site like Amazon or eBay for an item at a lower than market price, and receive an item that was clearly purchased new at full price. The scammer uses a stolen credit card to order your item, while the money from the listing is almost all profit for the scammer.
Instagram influencer scams
Someone will message you on Instagram asking you to promote their products, and offering you a discount code. The items are Chinese junk, and the offer is made to many people at a time.
Cheap Items
Many websites pop up and offer expensive products, including electronics, clothes, watches, sunglasses, and shoes at very low prices. The scam: Some sites are selling cheap knock-offs. Some will just take your money and run. What to do if you think you're involved with this scam: Contact your bank or credit card and dispute the charge. How to avoid: The sites often have every brand-name shoe or fashion item (Air Jordan, Yeezy, Gucci, etc) in stock and often at a discounted price. The site will claim to be an outlet for a major brand or even a specific line or item. The site will have images at the bottom claiming to be Secured by Norton or various official payment processors but not actual links. The site will have poor grammar and a mish-mash of categories. Recently, established websites will get hacked or their domain name jacked and turned into scam stores, meaning the domain name of the store will be completely unrelated to the items they're selling. If the deal sounds too good to be true it probably is. Nobody is offering brand new iPhones or Beats or Nintendo Switches for 75% off.
Cheap Amazon 3rd Party Items
You're on Amazon or maybe just Googling for an item and you see it for an unbelievable price from a third-party seller. You know Amazon has your back so you order it. The scam: One of three things usually happen: 1) The seller marks the items as shipped and sends a fake tracking number. Amazon releases the funds to the seller, and the seller disappears. Amazon ultimately refunds your money. 2) The seller immediately cancels the order and instructs you to re-order the item directly from their website, usually with the guarantee that the order is still protected by Amazon. The seller takes your money and runs. Amazon informs you that they do not offer protection on items sold outside of Amazon and cannot help you. 2) The seller immediately cancels the order and instructs you to instead send payment via an unused Amazon gift card by sending the code on the back via email. Once the seller uses the code, the money on the card is gone and cannot be refunded. How to avoid: These scammers can be identified by looking at their Amazon storefronts. They'll be brand new sellers offering a wide range of items at unbelievable prices. Usually their Amazon names will be gibberish, or a variation on FIRSTNAME.LASTNAME. Occasionally however, established storefronts will be hacked. If the deal is too good to be true its most likely a scam.
Scams on eBay
There are scams on eBay targeting both buyers and sellers. As a seller, you should look out for people who privately message you regarding the order, especially if they ask you to ship to a different address or ask to negotiate via text/email/a messaging service. As a buyer you should look out for new accounts selling in-demand items, established accounts selling in-demand items that they have no previous connection to (you can check their feedback history for a general idea of what they bought/sold in the past), and lookout for people who ask you to go off eBay and use another service to complete the transaction. In many cases you will receive a fake tracking number and your money will be help up for up to a month.
Scams on Amazon
There are scams on Amazon targeting both buyers and sellers. As a seller, you should look out for people who message you about a listing. As a buyer you should look out for listings that have an email address for you to contact the person to complete the transaction, and you should look out for cheap listings of in-demand items.
Scams on Reddit
Reddit accounts are frequently purchased and sold by fraudsters who wish to use the high karma count + the age of the account to scam people on buy/sell subreddits. You need to take precautions and be safe whenever you are making a transaction online.
Computer scams
Virus scam
A popup or other ad will say that you have a virus and you need to follow their advice in order to remove it. They are lying, and either want you to install malware or pay for their software.

Assorted scams

Chinese Brushing / direct shipping
If you have ever received an unsolicited small package from China, your address was used to brush. Vendors place fake orders for their own products and send out the orders so that they can increase their ratings.
Money flipping
Scammer claims to be a banking insider who can double/triple/bazoople any amount of money you send them, with no consequences of any kind. Obviously, the money disappears into their wallet the moment you send it.

General resources

Site to report scams in the United Kingdom: http://www.actionfraud.police.uk/
Site to report scams in the United States: https://www.ic3.gov/default.aspx
Site to report scams in Canada: www.antifraudcentre-centreantifraude.ca/reportincident-signalerincident/index-eng.htm
Site to report scams in Europe: https://www.europol.europa.eu/report-a-crime/report-cybercrime-online
FTC scam alerts: https://www.consumer.ftc.gov/scam-alerts
Microsoft's anti-scam guide: https://www.microsoft.com/en-us/safety/online-privacy/avoid-phone-scams.aspx
https://www.usa.gov/common-scams-frauds
https://www.usa.gov/scams-and-frauds
https://www.consumer.ftc.gov/features/scam-alerts
https://www.fbi.gov/scams-and-safety/common-fraud-schemes
submitted by EugeneBYMCMB to Scams [link] [comments]

Bob The Magic Custodian



Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses.
Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes.

First, some background. Here is a summary of how custodians make us more secure:

Previously, we might give Alice our crypto assets to hold. There were risks:

But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
See - all problems are solved! All we have to worry about now is:
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are!

"On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid".
"Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since."

"As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!"
"Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?"

"Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party."
"Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!"

"What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven."
"Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!"

"We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies.
And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often".

How many holes have to exist for your funds to get stolen?
Just one.

Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so?
If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security.

The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle.

And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet?

Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds.
So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever.

Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see.
It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation.
A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.

History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance.
Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.)
Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive.

Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today.
Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well.
Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do.

Facts/background/sources (skip if you like):



Thoughts?
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Storing your coins safely while not risking loss of keys

This was originally an answer to a question that was asked here, but OP deleted their post.
This might help some newbies (especially the multisig edit at the end), so I want to make sure it's still accessible here.
The original question was whether the Electrum wallet stores a Trezor's private key when using a passphrase.
OP noticed that their Trezor wouldn't connect to their Electrum wallet when entering a different passphrase than they used when creating the wallet. Thus, OP (likely) assumed that the wallet stored the private key, as it somehow knew that a different private key was now used.
Here is my original answer (with some modifications):
IMPORTANT: I'm assuming here that you connected your Trezor by choosing the "hardware wallet" option in Electrum, rather than giving Electrum your 12/24 seed words.
TL;DR: No, your coins are safe :)
I'm assuming by passphrase) you mean the 25th (or 13th) word. When you have this feature enabled, a private key gets generated every time you enter a passphrase. When you enter the same passphrase you used to create the wallet, the wallet with your funds shows up.
Whenever you enter something different, a different private key is generated on your Trezor. This allows you to have multiple different wallets, for example by choosing the passphrases "First Wallet", "Second Wallet", "Third Wallet", or a secret wallet with a secret passphrase.
So whenever you enter a new passphrase when connecting your Trezor to Electrum, the Trezor will send a new public key to Electrum. Electrum will then derive addresses from this public key and check those for balances. It won't find any, as you used a new passphrase.
EDIT: I just realized that you said your wallet doesn't connect to Electrum when you use a different passphrase. This is simply because Electrum doesn't receive the correct public key from the Trezor and therefore Electrum thinks it's a different wallet (which it is).
When you enter the passphrase you used during creation of your wallet, the Trezor will send your actual public key to Electrum, which will then find addresses with balances, which it will show to you. EDIT (to clarify): Connecting your Trezor after creating the wallet is only necessary to send funds or verify addresses, as the public key is already stored in the wallet.dat.
The only thing Electrum actually stores is the public key, which can only be used to look at your Bitcoin, not to move them. You might want to keep this public key a secret as well though, since it links all your funds to you. This is what Electrum stores in the wallet.dat file, which you can just encrypt by choosing a password for it.
Well done using a passphrase by the way! Should someone get their hands on your Trezor, a sophisticated attacker can get the secret key off the device in 15 minutes. Using a passphrase makes this attack almost useless, as the both secret key AND the passphrase are needed to move your funds, and the passphrase is not stored on the device. A passphrase also allows you to hide funds from potential robbers that force you to unlock your wallet.
You can do this by activating the passphrase feature and sending your funds to a wallet with a secret passphrase (do NOT lose this, as losing your passphrase renders your funds inaccessible). Afterwards, you can safely deactivate the passphrase feature, so the device doesn't even ask for one should you get robbed. Simply reactivate it when you need to access your funds.
EDIT: Should you be worried that you might forget your passphrase, you should look into multisig wallets. Depending on how you set this up, you can make it more secure against theft and less likely for you to lose access to your funds.
Say for example you get four wallets: two hardware wallets, a well-protected (airgapped) laptop with Electrum, and a secure mobile wallet that allows for multisig (like Fully Noded).
You can then create a 2-of-4 multisig wallet that requires you to sign transactions with any two of these four wallets.
The increase in security comes from the fact that an attacker now needs full access to two of your devices (or their stored private keys) at once.
At the same time, the fact that you yourself now also need access to only half of your devices means that in the event of a total loss of one (or even two) of them, you can still move your funds to a new wallet.
As long as you do regular checks (e.g. first day of each month), ensuring that you still have access to all your devices' stored private keys, you can always catch a loss of keys and fix this without losing funds (by creating a new multisig wallet and sending the funds there).
This allows you to use a passphrase on your wallets without storing it anywhere physically or digitally. This would usually be very risky, as forgetting the passphrase would lead to a loss of funds, but this risk is now close to eliminated.
(The following part was not in the original answer)
Some IMPORTANT general secruity tips:
  1. Consider including trusted friends and/or family members as co-signers for a multisig wallet. This ensures that it's not even possible for you alone to hand over funds to an attacker. Depending on your level of trust, you might want to make sure that your co-signers can't collaborate to steal your funds (if you include 3 people, create at least a 4-of-n multisig). You could also deliberately make it possible for all or even just some of your co-signers to move your funds (3 co-signers, 3(or less)-of-n multisig) to make sure your funds aren't lost should pass away unexpectedly.
  2. Consider running your own full node and Electrum server (also check the alternatives), which you connect your Electrum wallet to. This ensures that you don't send your public key to anyone else. If someone knows your public key, they know how much BTC you own, making you a potential target.
  3. Always encrypt your wallet.dat (or whatever you called your wallet file), even if it's a watch-only wallet. This protects your public key (see 1. for why you want that).
  4. Create watch-only wallets: Use an airgapped) device to create a wallet with Electrum (make sure to back up the seed phrase) and export the public key. Then create a new watch-only wallet on another device (like your everyday laptop) with that public key to be able to check your funds. To create the initial wallet, you can also use any other hard- or software wallet that allows you to export the master public key.
  5. Hide, or (when using a hardware wallet with a passphrase) even delete your watch-only wallets. Hiding your funds makes you less of a target. When using a hardware wallet, recreating the watch-only wallet is fast and simple, so you don't need to store it if you don't want to check your funds every day. Note that this approach doesn't help much when you don't use a passphrase, as an attacker will obviously check the passphrase-less wallet no matter what.
  6. Keep some funds on your hardware wallet(s). If an attackers sees funds on the wallet(s), they might not force you to enter a passphrase or ask if you have any multisig wallets (lying under pressure is hard).
  7. Hide all your wallets in different places. If someone sees that you have multiple wallets lying around, they might realize you have a multisig wallet.
  8. Don't risk a robber getting (for example) two keys to your 2-of-4 multisig wallet and then racing them to move your funds with the other two keys when they leave. They're gonna come back and be pissed. If it comes to this, you need protection until the robber is caught. STAY SAFE!
  9. The easiest way to solve a problem is to never have it. Don't make yourself a target. If nobody even suspects that you have a multisig (or any wallet at all), they're probably not gonna look for it.
Please correct any mistakes you find and I will edit my post. I will also gladly add more tips to the list. I will of course credit anyone who helps.
Tip for devs who want something cool and important to work on: Make the creation and usage of multisig wallets as noob-friendly as possible. If someone expresses worries about losing access to their funds by forgetting the seed phrase, wallet pin, etc. (someone in my family actually brought this up to me), multisig wallets are the perfect solution as they add redundancy.
submitted by Fittiboy to Bitcoin [link] [comments]

How To End The Cryptocurrency Exchange "Wild West" Without Crippling Innovation


In case you haven't noticed the consultation paper, staff notice, and report on Quadriga, regulators are now clamping down on Canadian cryptocurrency exchanges. The OSC and other regulatory bodies are still interested in industry feedback. They have not put forward any official regulation yet. Below are some ideas/insights and a proposed framework.



Many of you have limited time to read the full proposal, so here are the highlights:

Offline Multi-Signature

Effective standards to prevent both internal and external theft. Exchange operators are trained and certified, and have a legal responsibility to users.

Regular Transparent Audits

Provides visibility to Canadians that their funds are fully backed on the exchange, while protecting privacy and sensitive platform information.

Insurance Requirements

Establishment of basic insurance standards/strategy, to expand over time. Removing risk to exchange users of any hot wallet theft.


Background and Justifications


Cold Storage Custody/Management
After reviewing close to 100 cases, all thefts tend to break down into more or less the same set of problems:
• Funds stored online or in a smart contract,
• Access controlled by one person or one system,
• 51% attacks (rare),
• Funds sent to the wrong address (also rare), or
• Some combination of the above.
For the first two cases, practical solutions exist and are widely implemented on exchanges already. Offline multi-signature solutions are already industry standard. No cases studied found an external theft or exit scam involving an offline multi-signature wallet implementation. Security can be further improved through minimum numbers of signatories, background checks, providing autonomy and legal protections to each signatory, establishing best practices, and a training/certification program.
The last two transaction risks occur more rarely, and have never resulted in a loss affecting the actual users of the exchange. In all cases to date where operators made the mistake, they've been fully covered by the exchange platforms.
• 51% attacks generally only occur on blockchains with less security. The most prominent cases have been Bitcoin Gold and Ethereum Classic. The simple solution is to enforce deposit limits and block delays such that a 51% attack is not cost-effective.
• The risk of transactions to incorrect addresses can be eliminated by a simple test transaction policy on large transactions. By sending a small amount of funds prior to any large withdrawals/transfers as a standard practice, the accuracy of the wallet address can be validated.
The proposal covers all loss cases and goes beyond, while avoiding significant additional costs, risks, and limitations which may be associated with other frameworks like SOC II.

On The Subject of Third Party Custodians
Many Canadian platforms are currently experimenting with third party custody. From the standpoint of the exchange operator, they can liberate themselves from some responsibility of custody, passing that off to someone else. For regulators, it puts crypto in similar categorization to oil, gold, and other commodities, with some common standards. Platform users would likely feel greater confidence if the custodian was a brand they recognized. If the custodian was knowledgeable and had a decent team that employed multi-sig, they could keep assets safe from internal theft. With the right protections in place, this could be a great solution for many exchanges, particularly those that lack the relevant experience or human resources for their own custody systems.
However, this system is vulnerable to anyone able to impersonate the exchange operators. You may have a situation where different employees who don't know each other that well are interacting between different companies (both the custodian and all their customers which presumably isn't just one exchange). A case study of what can go wrong in this type of environment might be Bitpay, where the CEO was tricked out of 5000 bitcoins over 3 separate payments by a series of emails sent legitimately from a breached computer of another company CEO. It's also still vulnerable to the platform being compromised, as in the really large $70M Bitfinex hack, where the third party Bitgo held one key in a multi-sig wallet. The hacker simply authorized the withdrawal using the same credentials as Bitfinex (requesting Bitgo to sign multiple withdrawal transactions). This succeeded even with the use of multi-sig and two heavily security-focused companies, due to the lack of human oversight (basically, hot wallet). Of course, you can learn from these cases and improve the security, but so can hackers improve their deception and at the end of the day, both of these would have been stopped by the much simpler solution of a qualified team who knew each other and employed multi-sig with properly protected keys. It's pretty hard to beat a human being who knows the business and the typical customer behaviour (or even knows their customers personally) at spotting fraud, and the proposed multi-sig means any hacker has to get through the scrutiny of 3 (or more) separate people, all of whom would have proper training including historical case studies.
There are strong arguments both for and against using use of third party custodians. The proposal sets mandatory minimum custody standards would apply regardless if the cold wallet signatories are exchange operators, independent custodians, or a mix of both.

On The Subject Of Insurance
ShakePay has taken the first steps into this new realm (congratulations). There is no question that crypto users could be better protected by the right insurance policies, and it certainly feels better to transact with insured platforms. The steps required to obtain insurance generally place attention in valuable security areas, and in this case included a review from CipherTrace. One of the key solutions in traditional finance comes from insurance from entities such as the CDIC.
However, historically, there wasn't found any actual insurance payout to any cryptocurrency exchange, and there are notable cases where insurance has not paid. With Bitpay, for example, the insurance agent refused because the issue happened to the third party CEO's computer instead of anything to do with Bitpay itself. With the Youbit exchange in South Korea, their insurance claim was denied, and the exchange ultimately ended up instead going bankrupt with all user's funds lost. To quote Matt Johnson in the original Lloyd's article: “You can create an insurance policy that protects no one – you know there are so many caveats to the policy that it’s not super protective.”
ShakePay's insurance was only reported to cover their cold storage, and “physical theft of the media where the private keys are held”. Physical theft has never, in the history of cryptocurrency exchange cases reviewed, been reported as the cause of loss. From the limited information of the article, ShakePay made it clear their funds are in the hands of a single US custodian, and at least part of their security strategy is to "decline[] to confirm the custodian’s name on the record". While this prevents scrutiny of the custodian, it's pretty silly to speculate that a reasonably competent hacking group couldn't determine who the custodian is. A far more common infiltration strategy historically would be social engineering, which has succeeded repeatedly. A hacker could trick their way into ShakePay's systems and request a fraudulent withdrawal, impersonate ShakePay and request the custodian to move funds, or socially engineer their way into the custodian to initiate the withdrawal of multiple accounts (a payout much larger than ShakePay) exploiting the standard procedures (for example, fraudulently initiating or override the wallet addresses of a real transfer). In each case, nothing was physically stolen and the loss is therefore not covered by insurance.
In order for any insurance to be effective, clear policies have to be established about what needs to be covered. Anything short of that gives Canadians false confidence that they are protected when they aren't in any meaningful way. At this time, the third party insurance market does not appear to provide adequate options or coverage, and effort is necessary to standardize custody standards, which is a likely first step in ultimately setting up an insurance framework.
A better solution compared to third party insurance providers might be for Canadian exchange operators to create their own collective insurance fund, or a specific federal organization similar to the CDIC. Such an organization would have a greater interest or obligation in paying out actual cases, and that would be it's purpose rather than maximizing it's own profit. This would be similar to the SAFU which Binance has launched, except it would cover multiple exchanges. There is little question whether the SAFU would pay out given a breach of Binance, and a similar argument could be made for a insurance fund managed by a collective of exchange operators or a government organization. While a third party insurance provider has the strong market incentive to provide the absolute minimum coverage and no market incentive to payout, an entity managed by exchange operators would have incentive to protect the reputation of exchange operators/the industry, and the government should have the interest of protecting Canadians.

On The Subject of Fractional Reserve
There is a long history of fractional reserve failures, from the first banks in ancient times, through the great depression (where hundreds of fractional reserve banks failed), right through to the 2008 banking collapse referenced in the first bitcoin block. The fractional reserve system allows banks to multiply the money supply far beyond the actual cash (or other assets) in existence, backed only by a system of debt obligations of others. Safely supporting a fractional reserve system is a topic of far greater complexity than can be addressed by a simple policy, and when it comes to cryptocurrency, there is presently no entity reasonably able to bail anyone out in the event of failure. Therefore, this framework is addressed around entities that aim to maintain 100% backing of funds.
There may be some firms that desire but have failed to maintain 100% backing. In this case, there are multiple solutions, including outside investment, merging with other exchanges, or enforcing a gradual restoration plan. All of these solutions are typically far better than shutting down the exchange, and there are multiple cases where they've been used successfully in the past.

Proof of Reserves/Transparency/Accountability
Canadians need to have visibility into the backing on an ongoing basis.
The best solution for crypto-assets is a Proof of Reserve. Such ideas go back all the way to 2013, before even Mt. Gox. However, no Canadian exchange has yet implemented such a system, and only a few international exchanges (CoinFloor in the UK being an example) have. Many firms like Kraken, BitBuy, and now ShakePay use the Proof of Reserve term to refer to lesser proofs which do not actually cryptographically prove the full backing of all user assets on the blockchain. In order for a Proof of Reserve to be effective, it must actually be a complete proof, and it needs to be understood by the public that is expected to use it. Many firms have expressed reservations about the level of transparency required in a complete Proof of Reserve (for example Kraken here). While a complete Proof of Reserves should be encouraged, and there are some solutions in the works (ie TxQuick), this is unlikely to be suitable universally for all exchange operators and users.
Given the limitations, and that firms also manage fiat assets, a more traditional audit process makes more sense. Some Canadian exchanges (CoinSquare, CoinBerry) have already subjected themselves to annual audits. However, these results are not presently shared publicly, and there is no guarantee over the process including all user assets or the integrity and independence of the auditor. The auditor has been typically not known, and in some cases, the identity of the auditor is protected by a NDA. Only in one case (BitBuy) was an actual report generated and publicly shared. There has been no attempt made to validate that user accounts provided during these audits have been complete or accurate. A fraudulent fractional exchange, or one which had suffered a breach they were unwilling to publicly accept (see CoinBene), could easily maintain a second set of books for auditors or simply exclude key accounts to pass an individual audit.
The proposed solution would see a reporting standard which includes at a minimum - percentage of backing for each asset relative to account balances and the nature of how those assets are stored, with ownership proven by the auditor. The auditor would also publicly provide a "hash list", which they independently generate from the accounts provided by the exchange. Every exchange user can then check their information against this public "hash list". A hash is a one-way form of encryption, which fully protects the private information, yet allows anyone who knows that information already to validate that it was included. Less experienced users can take advantage of public tools to calculate the hash from their information (provided by the exchange), and thus have certainty that the auditor received their full balance information. Easy instructions can be provided.
Auditors should be impartial, their identities and process public, and they should be rotated so that the same auditor is never used twice in a row. Balancing the cost of auditing against the needs for regular updates, a 6 month cycle likely makes the most sense.

Hot Wallet Management
The best solution for hot wallets is not to use them. CoinBerry reportedly uses multi-sig on all withdrawals, and Bitmex is an international example known for their structure devoid of hot wallets.
However, many platforms and customers desire fast withdrawal processes, and human validation has a cost of time and delay in this process.
A model of self-insurance or separate funds for hot wallets may be used in these cases. Under this model, a platform still has 100% of their client balance in cold storage and holds additional funds in hot wallets for quick withdrawal. Thus, the risk of those hot wallets is 100% on exchange operators and not affecting the exchange users. Since most platforms typically only have 1%-5% in hot wallets at any given time, it shouldn't be unreasonable to build/maintain these additional reserves over time using exchange fees or additional investment. Larger withdrawals would still be handled at regular intervals from the cold storage.
Hot wallet risks have historically posed a large risk and there is no established standard to guarantee secure hot wallets. When the government of South Korea dispatched security inspections to multiple exchanges, the results were still that 3 of them got hacked after the inspections. If standards develop such that an organization in the market is willing to insure the hot wallets, this could provide an acceptable alternative. Another option may be for multiple exchange operators to pool funds aside for a hot wallet insurance fund. Comprehensive coverage standards must be established and maintained for all hot wallet balances to make sure Canadians are adequately protected.

Current Draft Proposal

(1) Proper multi-signature cold wallet storage.
(a) Each private key is the personal and legal responsibility of one person - the “signatory”. Signatories have special rights and responsibilities to protect user assets. Signatories are trained and certified through a course covering (1) past hacking and fraud cases, (2) proper and secure key generation, and (3) proper safekeeping of private keys. All private keys must be generated and stored 100% offline by the signatory. If even one private keys is ever breached or suspected to be breached, the wallet must be regenerated and all funds relocated to a new wallet.
(b) All signatories must be separate background-checked individuals free of past criminal conviction. Canadians should have a right to know who holds their funds. All signing of transactions must take place with all signatories on Canadian soil or on the soil of a country with a solid legal system which agrees to uphold and support these rules (from an established white-list of countries which expands over time).
(c) 3-5 independent signatures are required for any withdrawal. There must be 1-3 spare signatories, and a maximum of 7 total signatories. The following are all valid combinations: 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.
(d) A security audit should be conducted to validate the cold wallet is set up correctly and provide any additional pertinent information. The primary purpose is to ensure that all signatories are acting independently and using best practices for private key storage. A report summarizing all steps taken and who did the audit will be made public. Canadians must be able to validate the right measures are in place to protect their funds.
(e) There is a simple approval process if signatories wish to visit any country outside Canada, with a potential whitelist of exempt countries. At most 2 signatories can be outside of aligned jurisdiction at any given time. All exchanges would be required to keep a compliant cold wallet for Canadian funds and have a Canadian office if they wish to serve Canadian customers.
(2) Regular and transparent solvency audits.
(a) An audit must be conducted at founding, after 3 months of operation, and at least once every 6 months to compare customer balances against all stored cryptocurrency and fiat balances. The auditor must be known, independent, and never the same twice in a row.
(b) An audit report will be published featuring the steps conducted in a readable format. This should be made available to all Canadians on the exchange website and on a government website. The report must include what percentage of each customer asset is backed on the exchange, and how those funds are stored.
(c) The auditor will independently produce a hash of each customer's identifying information and balance as they perform the audit. This will be made publicly available on the exchange and government website, along with simplified instructions that each customer can use to verify that their balance was included in the audit process.
(d) The audit needs to include a proof of ownership for any cryptocurrency wallets included. A satoshi test (spending a small amount) or partially signed transaction both qualify.
(e) Any platform without 100% reserves should be assessed on a regular basis by a government or industry watchdog. This entity should work to prevent any further drop, support any private investor to come in, or facilitate a merger so that 100% backing can be obtained as soon as possible.
(3) Protections for hot wallets and transactions.
(a) A standardized list of approved coins and procedures will be established to constitute valid cold storage wallets. Where a multi-sig process is not natively available, efforts will be undertaken to establish a suitable and stable smart contract standard. This list will be expanded and improved over time. Coins and procedures not on the list are considered hot wallets.
(b) Hot wallets can be backed by additional funds in cold storage or an acceptable third-party insurance provider with a comprehensive coverage policy.
(c) Exchanges are required to cover the full balance of all user funds as denominated in the same currency, or double the balance as denominated in bitcoin or CAD using an established trading rate. If the balance is ever insufficient due to market movements, the firm must rectify this within 24 hours by moving assets to cold storage or increasing insurance coverage.
(d) Any large transactions (above a set threshold) from cold storage to any new wallet addresses (not previously transacted with) must be tested with a smaller transaction first. Deposits of cryptocurrency must be limited to prevent economic 51% attacks. Any issues are to be covered by the exchange.
(e) Exchange platforms must provide suitable authentication for users, including making available approved forms of two-factor authentication. SMS-based authentication is not to be supported. Withdrawals must be blocked for 48 hours in the event of any account password change. Disputes on the negligence of exchanges should be governed by case law.

Steps Forward

Continued review of existing OSC feedback is still underway. More feedback and opinions on the framework and ideas as presented here are extremely valuable. The above is a draft and not finalized.
The process of further developing and bringing a suitable framework to protect Canadians will require the support of exchange operators, legal experts, and many others in the community. The costs of not doing such are tremendous. A large and convoluted framework, one based on flawed ideas or implementation, or one which fails to properly safeguard Canadians is not just extremely expensive and risky for all Canadians, severely limiting to the credibility and reputation of the industry, but an existential risk to many exchanges.
The responsibility falls to all of us to provide our insight and make our opinions heard on this critical matter. Please take the time to give your thoughts.
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

What can we do?

In the current situation, what can we do?
I am not used to write my opinions and thoughts, because in the 18 years that I have lived in a communist country, I have learned that you have to be careful about what you say openly and also in public. But this time, I think it is necessary for other people to think very well, about what am I going to say.
“When the people fear their government, there is tyranny; When the government fears the people, there is freedom” – Thomas Jefferson.
What we are experiencing now, in Spain and worldwide, is the beginning of an evil plan of attack against humanity, against freedom and against society as we have lived until now.
Many of you do not believe it when someone tells you, that what is happening now, is a way in which a totalitarian communist regime is going to take over not only Spain, but all of Europe and the whole world. I know you don’t believe this, but A PERSON WHO HAS LIVED IN COMMUNISM SAYS IT and I’ve seen how they operate, how they change people’s minds, how they use subversion, manipulation, and propaganda to get into people’s minds. It is part of their “instruction manual” that is well described by an ex-KGB agent in his famous interview in 1984. Listen carefully, everything he says is TRUE, and it’s happening right now.
My opinion, what to do in this situation is the following. And I don’t care about all of of those from The Covidian Cult who are against this. This is my opinion and NO ONE can take it away from me or say that I am wrong. So from this moment, hey, trolls, this is for you: FUCK OFF!
  1. First rule: Aggressive communism CANNOT be countered with “democratic tools”. It is a misconception that these tools are going to work against a villain who has ALL the keys and tools to make your “tools” unusable and ridiculous. With its propaganda and manipulation apparatus, it will always have more power against your tiny possibilities. Any “civil and democratic movement” is going to be: infiltrated from the beginning, with sleeping agents from the beginning, which will later become agents of dismemberment. The members of a movement are NOT going to realize who is who. And even if there are people with good intentions and a good heart, fighters, it would be for nothing, exactly these are going to be the most manipulated, without realizing it.
  2. Don’t forget an important thing: in this so called “democracy” THERE IS NO LEFT AND RIGHT, they are all equal, on the same side and this side IS AGAINST HUMANITY. The fucking bankers and elites are financing ALL the parties, no matter what color and ideology they are in public. What we are experiencing is NOT a democracy! Let this to be clear! Democracy is when the people really decide and not just some politicians. And it would also be a democracy when politicians would be criminally responsible and with their lives for the decisions made. If you think that any party is going to fight for you, then you have already lost the battle. The battle is won by you, as an individual, because you have enormous power, but you still do not realize it: say NO, DISOBEDIENCE.
  3. Communist leaders don’t give a damn about protests and demonstrations. Any demonstration on the street, they will manipulate it in their interests, for them it is another tool that they can use EXACTLY against protesters. It does not matter if there are 300 people or 3 million people. They will ALWAYS push that manifestation into their interests, which can be immediate or long-term.
  4. EDUCATION. Yes, this is the primary key. Educate normal people, who 4.do not want or do not have time to inform well themselves about what is happening. Because this happens to us, because people are MISINFORMED and manipulated, bombarded with false information. What people do, like those from ReVelion en la Granja, with groups of direct information in the street, with brochures, with talk sessions, interviews, distributing documents and explanatory brochures, going one by one on the street and explaining to normal people the truth and who are lying to us, opening their minds, THIS is the first thing to do. WAKE UP the maximum number of people. Because only when there is a huge mass of people awake, the communist monster begins to show its ugly and hateful face and its feet of mud begin to collapse … Every city, town, region has to organize information sessions for people, in the Street. Hand out leaflets, make people start to hear something other than just the lies on TV. Make people to think for themselves.
  5. HELP THE LAWYERS AND LEAVE them to do their legal and juridical work, by the way of the law. We still have a lot of laws that protect us. What is doing, Mr. Luis de Miguel Ortega with his ACUS SCABELUM and his consulting Youtube channel, and other lawyers, that there are still some more, who fight for our rights, they do it very well, and it is a very important part of the fight, which the communist elites do NOT like at all. Join in collective complaints, denounce as much as possible, all abuses, always be well informed about YOUR rights, consult the lawyer if necessary. Inform well the lawyers who fight for the cause, with well-verified information and if they can be helped in their work.
  6. THE SILENT REVOLUTION – TOTAL DISOBEDIENCE: this is what communism fears, the revolution that is not seen, that does not scream in the streets, that does not protest, that does not fight battles in the city streets, destroying private property and even killing innocent people. And how can this be done? Well, just say NO. Yes, that’s right, at first glance it seems crazy to say this, but think about it, right now, you have lost almost everything, your freedom, your job, your money, your future, your health, everything. You have nothing to lose, just from winning all this back. Now is your last chance. If you take pleasure in your page that the government still gives you, this is just a bribe to keep you quiet. But this will affect the future of your children and humanity.
6.a. DO NOT pay more taxes. If central banks can print / create money out of thin air and give it to governments, as is, why do we keep paying taxes? They always tell us that our taxes build roads, schools, hospitals, etc. But then if you can generate money infinitely for governments, they can leave us alone with our profits, right?
6.b. NO more wearing the mask. A mask is a symbol, the symbol of slavery. If so, just don’t wear it. anywhere, for no time. I’ve seen a lot of videos of people demonstrating against masks, but they wore them when the police walked by. But what is this? A woman cannot be half-pregnant! You either have balls or you don’t. Point and clear. Supermarkets that impose it on you? Well, don’t go there anymore. And report them to Consumer Protection.
6.c. Don’t do the PCR test You already know that it is not worth anything and it is all a scam. I have seen people who accept prostitution to go and do the test because they have asked the job. But these people do not know their rights ?! And here you have an article that you have to read, with a message from the lawyer Luis de Miguel Ortega.
6.d. DO NOT go to work, general strike. If there are companies that prevent you from coming at work without a mask or without a PCR test, you were no longer going to work. General strike. This is necessary that EVERYONE do the same, at the same time. They already pays us shit, so there’s nothing to lose.
6.e. DO NOT protest, just be on the street, walking or if you don’t want to, just being at home. NO protest at all, this is not a matter of asking for something. NOOO, YOU DO NOT ASK FOR YOUR RIGHTS, YOU HAVE THEM ALREADY, point, is over! You do not have to ask the government for anything, you already have everything you need. The government has to ask you for things and first of all apologies and your consent to decide something of common interest. When you go before the government asking for “freedom, rights etc” this is bullshit, this is as if you were asking for some privileges. This is not about privileges, it is about YOUR FUNDAMENTAL RIGHTS, which are also NATURALS and protected by Nuremberg Code y The Universal Declaration of Human Rights that the politicians themselves have signed it and sworn that they will defend it. But now they make themselves forget it.
6.f. NO more use of central bank currency. Yes, this is one of the most important points. These are the coins of slavery, the coins called “fiat”, that can be generated infinitely without any citizen control. Use Bitcoin, the cryptocurrency controlled by the citizen, by each user, which is limited (there will not be more than 21 million BTC), which is decentralized, which is P2P (direct transactions between users, without any intermediary), which is open source , that it is digital, that it cannot be censored, that it has no borders, that NO government or central bank can control or monitor it. Just stop using the banks and we are already winning the fight. And they don’t like this, that’s why from 2009 until today, governments and the media have had the masses in the shadows and misinformation about Bitcoin, because they hate them, because they know that this is going to bring it down from below. But Bitcoin goes on, and it is never going to go away or go away, whatever governments do.
Bitcoin is NOT an investment, it is NOT a scam! Bitcoin is PURE MATH!
Bitcoin is NOT a currency that someone forces you to use, as a government forces you to use its currency, under the threat of a gun.
Bitcoin is free and open. Everyone can participate in the development of the code and everyone can verify it. In addition to this, all users decide any change in the code, directly with their node, with their wallet, with their vote. There are no “representatives”, there are no politicians, there are no CEOs, there are only programmers, developers, users and node operators.
Bitcoin is the people’s money, for the people, it is to win back our freedom.
Here are some links for those who want to know more about Bitcoin: Bitcoin Resources Lightning Network Resources
RESISTANCE – because if we fight, we may lose, but if we don’t fight, we have already lost.
submitted by Fuck_Banksters to conspiracy [link] [comments]

Probably one of the most important information for bitcoin holders to be aware of! Safety and Security 101

"Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup. "
https://en.bitcoin.it/wiki/Private_key
So sad, I've been studying bitcoin for years and I just learned this. I also bring this up because wallets like BlueWallet used to have an option to make a non-HD wallet.

Want to research and double check your private key?
  1. How do you know if your set of old private keys are from an HD wallet?
or
  1. How do you know if your old wallet receive address is paired with private keys from an HD wallet?
and
  1. Can you sweep private keys from an NON HD wallet into a HD wallet?
submitted by dreftylefty to Bitcoin [link] [comments]

ArCoin from Arca: how the first tokenized US government bonds work

ArCoin from Arca: how the first tokenized US government bonds work

ArCoin from Arca: how the first tokenized US government bonds work
On July 6, digital asset manager Arca registered his private crypto fund Arca U.S. Treasury Fund at the US Securities and Exchange Commission (SEC). The fund invests most of its funds in short-term US bonds, while the fund’s shares are represented in the form of ArCoin Ethereum tokens of the new ERC1404 format, which fully comply with securities legislation.

Why SEC registration is important for Arca U.S. Treasury Fund.

Arca U.S. Treasury Fund is a closed-end hedge fund owned by the American digital asset management company Arca. It aims to combine the regulatory, legal and operational standards of the traditional financial sector with the efficiency of the blockchain. The company believes that actively managed hedge funds are the best way to address the volatility, immaturity, and rapidly changing nature of cryptocurrencies as an investment asset.
Registration with the SEC was not easy for the fund — Arca agreed on the form of its digital shares within 20 months. But now the fund’s securities comply with the 1940 Investment Companies Act, which regulates the work of investment funds, including those issuing their own securities.
For investors, SEC approval is an opportunity to receive guarantees from the traditional financial market: broker control by the regulator, independent audit and regular reporting, as well as the right to return their money in the event of a broker’s bankruptcy.
For an investment fund, registration with the SEC imposes obligations to provide information on the company’s financial position, investment policy and current operations, meet liquidity requirements, conduct an independent audit and transfer control over assets to an independent board of trustees. But this is what allowed Arca to release an institutional-grade product.

How Arca U.S. Treasury Fund works

Arca U.S. Treasury Fund invests 80% of its assets in short-term US Treasury bonds. The rest of the funds are invested in fixed income debt securities. As the fund plans to invest in low-risk assets, the ArCoin price is expected to be stable.
The fund operates just like any other fund holding US debt securities, but with the addition of blockchain to manage stocks. Investors do not invest their money directly in securities, but purchase shares of the fund — ArCoin tokens (ARCT). They were created by a special division of the company — Arca Labs. TokenSoft, a crypto startup that helps companies launch and sell tokens, has become a technical service provider.
ArCoin sets a new standard for Ethereum tokens — ERC1404. It is specifically designed to meet regulatory requirements. Unlike the universal ERC20 standard, ERC1404 is more strictly controlled: such a token can be frozen, and the addresses to which users can send it must also be predefined. This “whitelist” of permitted addresses allows the SEC to almost completely control and track their circulation and ensures that tokens are not transferred outside of regulatory oversight.
Each ArCoin grants the right to one share in the fund. The price of the coin is $1 with a minimum investment of $1000. A total of 100 million ArCoins will be available. Accrued interest is paid directly to ArCoin holders every quarter. You can buy shares directly through the website after passing the KYC / AML check. At the same time, investors can trade tokens with each other — the blockchain allows you to do without a broker.
The fund’s shares will not be available for trading on stock exchanges and for secondary trading on crypto exchanges. Notably, the prospectus filed with the SEC in April 2019 states that in the future, Arca coins “may be traded on a public decentralized or centralized electronic exchange platform that is registered with the SEC as an alternative trading system, although there is no guarantee that such systems or platforms will be available.” But, apparently, this situation did not suit the regulator, and in the latest version of the document it was changed.
The standard investor commission for fund management is 3.22%, but during the first year it will be reduced to 0.75%. Investors can keep ArCoin in their own wallets, but if the private keys from them are lost or compromised, the fund will replace the lost tokens with new ones. The digital assets are held in tokenized asset-oriented investment bank DTAC LLC, launched by TokenSoft last December.
ArCoin offers companies and investors several use cases and wide integration of the coin into the work of structures. Individuals can use ArCoin to hedge their cryptocurrency portfolio against volatility, and financial institutions and other companies can use ArCoin to clear, settle, pay and lend “more efficiently, less costly, faster and with the ability to directly track all transactions.”
The ability to pay for goods and services with tokens on US Treasury bonds is a revolutionary step that narrows the space between payment and investment funds.

Fight for a new trillion dollar market

US Treasuries, to which ArCoin is tied, are issued by the US Treasury Department and serve as a government debt financing instrument.
Traditionally, they have a credit rating equal to or close to the maximum AAA, and are considered one of the safest and most reliable assets in the world. This makes US Treasuries highly sought after by central banks, financial companies, and private investors around the world, as they act as a safe haven from volatility in stock and corporate bond markets in times of geopolitical or economic turmoil. The SEC cleared ArCoin linkage to US Treasuries makes the asset the safest and most regulated token on the market. This is a great choice in turbulent financial times.
The launch of Arca U.S. Treasury Fund is targeting one of Wall Street’s oldest outposts — investing in the US Treasury bond market.According to Brookings, its value is about $18 trillion. ArCoin is a modern alternative to existing methods of investing in Treasury securities (buying bonds from a broker or purchasing shares from an investment fund). Arca is clearly looking forward to the emergence and growth of a new market for fully regulated and SEC-approved digital shares in traditional assets. Moreover, their competitors are not other crypto funds, but traditional exchange-traded funds and ETFs.
The Arca team is made up of Wall Street veterans and knows what a product needs to be that will be successful. Blockchain aims to show investors that it simplifies, cheaper and speeds up the process compared to the traditional market. On the site, the Arca team describes ArCoin as a “blockchain-traded fund”, or BTF.
In comments to CoinDesk in February this year, CEO Ryan Steinberg said that Arca hopes to see large institutional investors as early buyers. It was for them that the company fought so long and hard to get registered with the SEC — it had to increase confidence in the products. “The answer to the question of why there are so few institutions in the crypto industry is simple: there are no institutional-grade products on the market,” Steinberg said, noting that ArCoin is just right for the needs of large investors.
“This is a huge leap forward in legitimizing securities on the blockchain.
Huge round of applause for the Arca team, great talent and domain expertise paired with great execution.” — TokenSoft CEO Mason Borda praised the Arca team.
However, the Arca team understands that success is not guaranteed. Treasury digital assets are a new and untested market. In its filing with the SEC, Arca recognizes the potential risks for investors. For example, digital asset markets may not have the liquidity that US Treasury investors currently enjoy in traditional markets. “The use of blockchain is relatively new and untested. Therefore, investors should initially expect greater price volatility in the secondary market than would be the case if the shares had greater liquidity, ”the application says. Other risks include congestion on the Ethereum network and “the possibility of breakdowns and trading stops as a result of undiscovered technological deficiencies.”

To the conclusion

SEC-registered crypto investment products are nothing new. Cryptocurrency investment fund Grayscale Investments, for example, is one of the largest bitcoin funds that is regularly audited by the SEC. But the point is, Arca offers its own cryptocurrency, not Bitcoin.
ArCoin is set to become just the first asset in the portfolio of SEC-approved financial products to be released by Arca. The increase in the number of such initiatives can convince the SEC that their launch does not carry enormous risks. For several years now, this regulator has refused to launch bitcoin ETFs, arguing this by the lack of a legal environment in the market, manipulation of asset prices, difficulties with liquidity, storage and arbitration, and non-compliance with the regulator’s rules. Now, amid the emergence of products such as ArCoin, the SEC may reconsider its opinion on Bitcoin ETFs.
The SEC approval for Arca has potentially opened the door to new and innovative blockchain-based financial products. Regulatory registration can be a challenge for many companies, but Arca has shown how to achieve it. The project has taken a pioneering and revolutionary step towards combining traditional finance with digital investments.
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submitted by Smart_Smell to Robopay [link] [comments]

Searchable table of all quest and hideout upgrade items 0.12.6

Taken from the official wiki. If you have any corrections let me know and I'll edit. Copiable to a spreadsheet application if you want to start crossing items out.
Lvl 10 requirement - 57124 XP
Trader Quest Type Objectives
Prapor Debut Elimination Kill 5 Scavs at Customs; Hand over 2 MP-133 pump-action shotguns
Prapor Checking PickUp Find the bronze pocket watch; (Optional) Find the key to the tank truck; Hand over the bronze pocket watch to Prapor
Prapor Shootout picnic Elimination Neutralize 15 Scavs on Woods
Prapor Delivery from the past PickUp Find a secure case in the Tarcone Director's Office at the Customs terminal; Leave the case in the Factory swing room, on 2nd floor of shop 3; Survive and exit Factory location
Prapor BP depot Discover Mark fuel tank №1 with beacon on Customs; Mark fuel tank №2 with beacon on Customs; Mark fuel tank №3 with beacon on Customs; Mark fuel tank №4 with beacon on Customs; Survive and leave the area
Prapor Bad rep evidence PickUp Find secure folder 0031 in a bunkhouse on Customs; (Optional) Gain access to the closed room in the Factory offices; (Optional) Find the bunkhouse key; Hand over secure folder 0031 to Prapor; Survive and exit Customs location
Prapor Ice cream cones PickUp Find 6 60-round mags for AK; (Optional) Find the key from the bunker in the Terragroup employee room; (Optional) Locate the right bunker in the Woods; Hand over 6 60 round mags for AK to Prapor
Prapor Postman Pat - Part 1 PickUp Find a letter on a messenger in the Factory; Survive and exit Factory location; Hand over the letter to Therapist
Prapor Shaking up teller PickUp Find something valuable in the dorm room 203; (Optional) Gain access to room 214; Hand over the item to Prapor
Prapor The Punisher - Part 1 Elimination Kill 15 Scavs at the Shoreline using AKM series weapon
Prapor The Punisher - Part 2 Elimination Kill 12 Scavs at the Shoreline using a suppressed weapon; Find in raid 7 lower half-masks; Hand masks over to Prapor
Prapor The Punisher - Part 3 Elimination Kill 25 Scavs on Customs using AKS-74U
Prapor The Punisher - Part 4 Elimination Kill 10 Scavs in Woods using 12 gauge shotguns; Kill 10 PMCs on Shoreline while wearing a balaclava and a scav vest.; Find in raid 5 knives Bars A-2607; Handover knives to Prapor
Prapor The Punisher - Part 5 PickUp Find 3 AK-74N; Handover AK-74N rifles to Prapor; Find 3 M4A1 assault rifles; Handover M4A1 rifles to Prapor; Find 5 PM pistols; Handover pistols to Prapor; Kill 10 PMC operatives. You must be wearing a PACA vest and 6b47 helmet
Prapor The Punisher - Part 6 Elimination Kill 15 PMC operators. You must use SVD; Find 7 PMC USEC dogtags; Hand over 7 PMC USEC dogtags; Find 7 PMC BEAR dogtags; Hand over 7 PMC BEAR dogtags
Prapor Polikhim hobo Elimination Kill 25 Scavs on Customs
Prapor Big customer Completion Find a transport with chemicals; Mark the chemical transport with a beacon; Survive and extract Customs
Prapor No offence PickUp Find 10 M67 grenades; Handover grenades to Prapor
Prapor Grenadier Elimination Kill 12 PMC's with grenades
Prapor Perfect mediator Standing Reach 4-th level of standing with Ragman; Reach 4-th level of standing with Skier; Reach 4-th level of standing with Mechanic; Reach 4-th level of standing with Peacekeeper; Reach 4-th level of standing with Prapor; Reach 4-th level of standing with Therapist
Prapor Insomnia Elimination Kill 30 PMC's during nighttime (23 to 04)
Prapor Test drive - Part 1 Elimination Kill 5 PMC's using an M1A with a Hybrid 46 silencer and a Trijicon REAP-IR thermal scope
Prapor Regulated materials PickUp Find in raid military battery; Handover military battery; Find in raid 10 30-mil. shells for BMP cannon; Handover 10 30-mil. shells for BMP cannon
Therapist Shortage PickUp Find 5 Salewa kits; Hand over 5 Salewa kits to Therapist
Therapist Sanitary Standards - Part 1 PickUp Find gas analyzer; (Optional) Get access to the pumping station at the Factory; Hand over the gas analyzer to Therapist
Therapist Sanitary Standards - Part 2 Completion Find in raid 2 gas analyzers; Hand over the gas analyzers to Therapist
Therapist Operation Aquarius - Part 1 PickUp Find hidden water in the dorm; Survive and extract Customs
Therapist Operation Aquarius - Part 2 Elimination Eliminate 15 Scavs on Customs
Therapist Painkiller PickUp Find in raid 4 morphine syringes; Hand the syringes over to Therapist
Therapist Pharmacist PickUp Find a case with the device; (Optional) Find the paramedic's car; (Optional) Get into dorm room 114; Hand over the case to Therapist
Therapist Supply plans PickUp Find the secure folder on the sawmill; Survive and exit Woods location; Hand over the folder to Therapist
Therapist General wares Completion Find in raid 15 cans of meat; Hand the cans over to Therapist
Therapist Car repair PickUp Find in raid 4 car batteries; Find in raid 8 spark plugs; Hand car batteries over to Therapist; Hand spark plugs over to Therapist
Therapist Health Care Privacy - Part 1 Discover Mark 1st ambulance; Mark 2nd ambulance; Mark 3rd ambulance; Survive and exit the location
Therapist Health Care Privacy - Part 2 Discover Gather info on the fate of the Terragroup research; Hand over info on the fate of the Terragroup research; Survive and exit the location
Therapist Health Care Privacy - Part 3 Discover Find the car that belonged to the head of the Medical Service; Pick up the blood sample; Hand over the blood sample; Survive and exit the location
Therapist Health Care Privacy - Part 4 Skill Increase Health skill level to 4
Therapist Health Care Privacy - Part 5 Multi Locate the drop spot in the nighttime in Factory; Obtain 3 packs of gunpowder and leave them in the designated spot
Therapist Postman Pat - Part 2 PickUp Hand over the letter from messenger to the Therapist
Therapist Out of curiosity PickUp Find a transport with chemicals; Mark the chemical transport with a beacon; Survive and extract Customs
Therapist Trust regain PickUp Find 303 dorm room key; Find ZB-014 key; Find the customs military checkpoint key; Find gas station closet key; Hand over 303 key; Hand over ZB-014 key; Hand over the checkpoint key; Hand over closet key
Therapist Hippocratic Vow Completion Handover 500 dollars.
Therapist Private clinic Completion Handover 3 Ophthalmoscopes; Handover 3 LEDX Skin Transilluminators
Therapist Athlete Skill Earn 10 Health skill level
Therapist Decontamination service Elimination Kill 30 Scavs at the Interchange, from the range less than 60 meters.You must be wearing spec. gear
Therapist An apple a day - keeps the doctor away Completion Handover 400,000 roubles
Skier Supplier PickUp Hand over 4 body armor to Skier; Hand over 4 shotguns to Skier
Skier The Extortionist PickUp Find the hidden valuable cargo; (Optional) Find the messenger body; (Optional) Find a place where the messenger hid the item; Hand it over to Skier
Skier Stirrup Elimination Eliminate 3 PMC operators. You must be using pistols
Skier What's on the flash drive? PickUp Find in raid two USB flash drives with information; Hand them over to Skier
Skier Golden swag Completion Find a Gilded Zibbo lighter; Leave the lighter in the bunkhouse in the trailer parking (Customs)
Skier Chemical - Part 1 PickUp Find some information about the Deputy Chief's past life; (Optional) Find a sleeping place of the former Deputy Chief of Security Hand it over to Skier; Find items that can help the investigation; Hand them over to Skier
Skier Chemical - Part 2 PickUp Find any information that could help with the investigation; Hand it over to Skier; Find any evidence that could help with the investigation; Hand the evidence over to Skier
Skier Chemical - Part 3 PickUp Find a Syringe with a chemical in the Factory; Hand over the syringe to Skier
Skier Chemical - Part 4 PickUp Find a transport with chemicals; Mark the chemical transport with a beacon; Survive and extract Customs
Skier Loyalty buyout Standing Give 1 million roubles to Skier
Skier Friend from the West - Part 1 Elimination Kill 7 USEC Find 7 PMC USEC dogtags; Hand over 7 PMC USEC dogtags
Skier Friend from the West - Part 2 Merchant Hand over $6,000
Skier "Vitamins" - Part 1 PickUp Get first Chemical container; Hand over first Chemical container; Get second Chemical container; Hand over second Chemical container; Get third Chemical container; Hand over third Chemical container
Skier "Vitamins" - Part 2 PickUp Find in raid 3 Medical bloodset; Hand over Medical bloodset, 3 pcs; Find in raid 4 Respirator; Hand over Respirator, 4 pcs
Skier Lend lease - Part 1 PickUp Get first Motor Controller; Hand over first controller; Get second Motor Controller; Hand over second controller; Get third Motor Controller; Hand over third controller; Get first Single-axis Fiber Optic Gyroscope; Hand over first Single-axis Fiber Optic Gyroscope; Get second Single-axis Fiber Optic Gyroscope; Hand over second Single-axis Fiber Optic Gyroscope
Skier Informed means armed Completion Install a WIFI camera to watch the pier; Install the WIFI camera to watch the road to port; Install the WIFI camera to watch Kiba Arms store
Skier Chumming Completion Stash 3 gold chains under the mattress next to BTR-80A; Stash 3 gold chains in the microwave on the 3rd floor of dorms; Stash 3 gold chains in the middle accommodation unit of the sawmill; Kill 5 PMC operators on Interchange in time period from 23:00 till 10:00
Skier Kind of sabotage PickUp Hand over folder 0052 to Skier
Skier Silent caliber Elimination Kill 20 Scavs with a suppressed 12 gauge shotgun; Kill 10 PMC's with a suppressed 12 gauge shotgun
Skier Flint Skill Earn 8 Stress Resistance skill level
Skier Bullshit Discovery Find False flash drive; Put fake flash drive (Dorms, 3-rd floor. Pile of trash opposite the stairs) Put sniper rifle SV-98 (Dorms, 3-rd floor. Pile of trash opposite the stairs; Put Roler watch (Dorms, 3-rd floor. Pile of trash opposite the stairs) Do not kill Scavs at Customs until the quest is completed
Skier Setup Elimination Kill 15 PMC's at Customs. You must be wearing spec. gear
Peacekeeper Fishing Gear Completion Find the secret spot; Leave sniper rifle in place; Leave multitool in place; Survive and leave the area
Peacekeeper Tigr Safari Discover Mark first Tigr vehicle at Customs; Mark second Tigr vehicle at Customs; Mark third Tigr vehicle at Customs; Survive and leave the area
Peacekeeper Scrap Metal Discover Mark first tank T-90 at Shoreline; Mark second tank T-90 at Shoreline; Mark third tank T-90 at Shoreline; Survive and leave the area
Peacekeeper Eagle Eye PickUp Find the first UAV crash site; Find SAS disk from the first crashed drone; Hand over SAS disk from the first crashed drone; Find the second UAV crash site Find SAS disk from the second crashed drone; Hand over SAS disk from the second crashed drone
Peacekeeper Humanitarian Supplies Discover Mark first truck with lost UN cargo; (Optional) Find first truck with lost UN cargo; Mark second truck with lost UN cargo; (Optional) Find second truck with lost UN cargo; Find 5 MRE ration packs; Deliver 5 MRE ration packs to Peacekeeper; Kill 10 Scavs at the Shoreline. You must be wearing UN uniform (MF-UNTAR armor vest and UNTAR helmet); Survive and leave the area
Peacekeeper Redacted quest - Part 1 Exploration Find the missing informant Survive and leave the area
Peacekeeper Redacted quest - Part 2 Exploration Put the beacon on the ritual spot at the Customs; Put the beacon on the ritual spot in the Woods; Put the beacon on the ritual spot in the Shoreline; Survive and leave the area
Peacekeeper Spa Tour - Part 1 Elimination Kill 7 Scavs at the Shoreline with 12 gauge shotgun headshots
Peacekeeper Spa Tour - Part 2 Exploration Mark the helicopter with a beacon Mark a safe road with a beacon Survive and leave the area
Peacekeeper Spa Tour - Part 3 PickUp Find in raid WD-40 100ml; Hand over WD-40 100ml; Find in raid Clin wipers, 2 pcs; Hand over Clin wipers, 2 pcs; Find in raid Corrugated hoses, 2 pcs; Hand over Corrugated hoses, 2 pcs; Find in raid Ox bleach, 2 pcs; Hand over Ox bleach, 2 pcs
Peacekeeper Spa Tour - Part 4 Discover Find generators in right wing; Find generators in left wing; Survive and leave the area
Peacekeeper Spa Tour - Part 5 PickUp Find the key from the locked resort rooms; Hand over key from the locked resort rooms
Peacekeeper Spa Tour - Part 6 Standing Hand over $8,000
Peacekeeper Spa Tour - Part 7 PickUp Find in raid Morphine injector, 4 pcs; Hand over Morphine injector, 4 pcs; Find in raid Heat-exchange alkali surface washer, 2 pcs; Hand over Heat-exchange alkali surface washer, 2 pcs; Find in raid Corrugated hose, 2 pcs; Hand over Corrugated hose, 2 pcs; Find in raid 5L propane tank, 2 pcs; Hand over 5L propane tank, 2 pcs
Peacekeeper Cargo X - Part 1 PickUp Find the cargo record in the computer room; Hand over the retrieved data to Peacekeeper
Peacekeeper Cargo X - Part 2 Exploration Find a room with reservoirs; Find any information on the second part of the shipment; Give the info on the second part of the cargo to Peacekeeper
Peacekeeper Cargo X - Part 3 Multi Find hidden Terragroup cargo; Survive and leave the area
Peacekeeper Lend lease - Part 2 PickUp Find in raid Military COFDM wireless Signal Transmitter; Find in raid 2 Virtex programmable processors; Handover Military COFDM wireless Signal Transmitter; Handover 2 Virtex programmable processors
Peacekeeper Wet Job - Part 1 Elimination Kill 10 Scavs at the Shoreline using a suppressed M4 or ADAR
Peacekeeper Wet Job - Part 2 Exploration Find the fisher's dwelling; Set the beacon; Survive and leave the area
Peacekeeper Wet Job - Part 3 Exploration Find Artyom's car; Survive and leave the area
Peacekeeper Wet Job - Part 4 PickUp Find a list of resort tenants; Hand over the list of tenants to Peacekeeper
Peacekeeper Wet Job - Part 5 PickUp Find info on Artyom's work; Hand over the info to Peacekeeper
Peacekeeper Wet Job - Part 6 Skill Reach level 7 in Sniper rifle handling skill
Peacekeeper The guide Exploration Survive at Interchange (Status: Survived); Survive at Shoreline (Status: Survived); Survive at Factory (Status: Survived); Survive at Laboratory (Status: Survived); Survive at Woods (Status: Survived); Survive at Customs (Status: Survived); Survive at Reserve (Status: Survived)
Peacekeeper Peacekeeping mission Elimination Kill 12 Scavs on Customs while dressed in the UN uniform (UNTAR helmet, MF-UNTAR armor vest, Colt M4A1); Kill 12 Scavs on Interchange while dressed in the UN uniform (UNTAR helmet, MF-UNTAR armor vest, Colt M4A1); Kill 12 Scavs on Shoreline while dressed in the UN uniform (UNTAR helmet, MF-UNTAR armor vest, Colt M4A1); Kill 12 Scavs on Woods while dressed in the UN uniform (UNTAR helmet, MF-UNTAR armor vest, Colt M4A1)
Peacekeeper Mentor Completion Handover 50,000 euros
Mechanic Gunsmith - Part 1 Parameter-oriented modding Modify MP-133 to comply with the required specification
Mechanic Gunsmith - Part 2 Parameter-oriented modding Modify AKS-74U to comply with the required specification
Mechanic Gunsmith - Part 3 Parameter-oriented modding Modify MP5 to comply with the required specification
Mechanic Gunsmith - Part 4 Parameter-oriented modding Modify M4A1 to comply with the required specification
Mechanic Gunsmith - Part 5 Parameter-oriented modding Modify DVL-10 to comply with the required specification
Mechanic Gunsmith - Part 6 Parameter-oriented modding Modify R11 RSASS to comply with the required specification
Mechanic Gunsmith - Part 7 Parameter-oriented modding Modify Remington Model 870 to comply with the required specification
Mechanic Gunsmith - Part 8 Parameter-oriented modding Modify AKM to comply with the required specification
Mechanic Gunsmith - Part 9 Parameter-oriented modding Modify AKS-74N to comply with the required specification
Mechanic Gunsmith - Part 10 Parameter-oriented modding Modify AK-105 to comply with the required specification
Mechanic Gunsmith - Part 11 Parameter-oriented modding Modify AS VAL to comply with the required specification
Mechanic Gunsmith - Part 12 Parameter-oriented modding Modify AK-102 to comply with the required specification
Mechanic Gunsmith - Part 13 Parameter-oriented modding Modify SIG MPX to comply with the required specification
Mechanic Gunsmith - Part 14 Parameter-oriented modding Modify AKMN to comply with the required specification
Mechanic Gunsmith - Part 15 Parameter-oriented modding Modify M1A to comply with the required specification
Mechanic Gunsmith - Part 16 Parameter-oriented modding Modify M4A1 to comply with the required specification
Mechanic Farming - Part 1 Completion Fix the first control board Fix the second control board Survive and leave the area
Mechanic Farming - Part 2 PickUp Find in raid Powercord, 2 pcs; Hand over Powercord, 2 pcs; Find in raid T-Shaped Plug, 4 pcs; Hand over T-Shaped Plug, 4 pcs; Find in raid Printed circuit board, 2 pcs; Hand over Printed circuit board, 2 pcs
Mechanic Farming - Part 3 Completion Find a warehouse of confiscate; Get package with graphics cards; Hand over package with graphics cards
Mechanic Farming - Part 4 PickUp Find in raid Graphics card, 3 pcs; Hand over Graphics card, 3 pcs; Find in raid CPU Fan, 8 pcs; Hand over CPU Fan, 8 pcs
Mechanic Signal - Part 1 Discover Find the first signal source; Find the second signal source; Survive and leave the area
Mechanic Signal - Part 2 PickUp Find in raid 3 PC CPU; Find in raid 3 Rechargeable battery; Find in raid 3 Printed circuit board; Find in raid 3 Broken GPhone; Hand over PC CPU, 3 pcs; Hand over Rechargeable battery, 3 pcs; Hand over Printed circuit board, 3 pcs; Hand over Broken GPhone, 3 pcs
Mechanic Signal - Part 3 Completion Place first jammer; Place second jammer; Place third jammer; Survive and leave the area
Mechanic Signal - Part 4 Skill Increase memory skill level to 4
Mechanic Bad habit PickUp Find in raid Malboro cigarettes, 5 pcs; Hand over Malboro cigarettes, 5 pcs; Find in raid Strike cigarettes, 5 pcs; Hand over Strike cigarettes, 5 pcs; Find in raid Wilston cigarettes, 5 pcs; Hand over Wilston cigarettes, 5 pcs
Mechanic Scout Completion Find a way out of the factory 1; Find a way out of the factory 2; Find a way out of the factory 3; Survive and exit the location
Mechanic Insider Standing Reach level 3 loyalty with Prapor
Mechanic Psycho Sniper Skill Upgrade the Sniper skill to level 9
Mechanic Import PickUp Find in raid UHF RFID Reader; Find in raid VPX Flash Storage Module; Handover UHF RFID Reader; Handover VPX Flash Storage Module
Mechanic Fertilizers PickUp Find in raid 5 Wires Find in raid 5 Capacitors; Handover 5 Wires; Handover 5 Capacitors
Mechanic A Shooter Born in Heaven Elimination Kill 3 PMCs with headshots in the Woods from a distance of more than 100 meters.; Kill 3 PMCs with headshots in the Interchange from a distance of more than 100 meters.; Kill 3 PMCs with headshots in the Shoreline from a distance of more than 100 meters.; Kill 3 PMCs with headshots in the Customs from a distance of more than 100 meters.
Mechanic Introduction Completion Find Jaeger's camp; Find Jaeger's message; Handover the message to the Mechanic
Ragman Only business Merchant Obtain level 2 loyalty with Ragman
Ragman Make ULTRA Great Again Completion Kill 25 Scavs at the Interchange.
Ragman Big sale Exploration Check AVOKADO; Check KOSTIN; Check tRend Check DINO CLOTHES Check TOP BRAND Survive and leave the area
Ragman The Blood of War - Part 1 Completion Mark tank 1; Mark tank 2; Mark tank 3; Survive and leave the area
Ragman Dressed to kill Completion Hand over Ushanka ear-flap cap, 7 pcs; Hand over Kinda cowboy hat, 7 pcs
Ragman Gratitude Completion Find the secret spot; Leave the Ghost balaclava in place; Leave the Shemagh in place; Leave the RayBench sunglasses in place; Leave the Round frame sunglasses in place
Ragman Sales Night Completion Survive in the raid at Interchange 7 times
Ragman Hot delivery Completion Stash Peltor ComTac 2 in specified place, 2 pcs; Stash 6B47 Ratnik-BSh Helmet in specified place, 2 pcs; Stash BNTI Gzhel-K armor in specified place, 2 pcs
Ragman Database - Part 1 Exploration Get Goshan cargo manifests; Hand over Goshan cargo manifests; Get OLI cargo manifests; Hand over OLI cargo manifests; Get IDEA cargo manifests; Hand over IDEA cargo manifests
Ragman Database - Part 2 Completion Get OLI cargo route documents; Hand over OLI cargo route documents
Ragman Minibus Completion Mark first minibus; Mark second minibus; Mark third minibus; Survive and leave the area
Ragman Sew it good - Part 1 PickUp Find in raid Ski hat with holes for eyes; Hand over Ski hat with holes for eyes; Find in raid Pilgrim tourist backpack; Hand over Pilgrim tourist backpack
Ragman Sew it good - Part 2 PickUp Get Gzhel in 0-50% condition; Hand over Gzhel in 0-50% condition; Get Gzhel in 50-100% condition; Hand over Gzhel in 50-100% condition
Ragman Sew it good - Part 3 PickUp Get 6B43 with 0-50% condition; Hand over 6B43 with 0-50% condition; Get 6B43 with 50-100% condition; Hand over 6B43 with 50-100% condition
Ragman Sew it good - Part 4 PickUp Find in raid 2 Wartech (TV-109, TV-106); Hand over 2 Wartech (TV-109, TV-106); Find in raid 2 BlackRock chest rig; Hand over 2 BlackRock chest rig
Ragman The Blood of War - Part 2 PickUp Find in raid Fuel conditioner, 4 pcs; Hand over Fuel conditioner, 4 pcs
Ragman The Blood of War - Part 3 Completion Find and mark first fuel stash; Find and mark second fuel stash; Find and mark third fuel stash; Survive and leave the area
Ragman The key to success PickUp Get Clothes design handbook Part 1; Hand over Clothes design handbook Part 1; Get Clothes design handbook Part 2; Hand over Clothes design handbook Part 2
Ragman Living high is not a crime - Part 1 PickUp Find in raid Bronze lion, 2 pcs; Hand over Bronze lion, 2 pcs; Find in raid Horse figurine, 2 pcs; Hand over Horse figurine, 2 pcs; Find in raid Cat figurine Hand over Cat figurine; Find in raid Roler submariner gold wrist watch; Hand over Roler submariner gold wrist watch
Ragman Living high is not a crime - Part 2 PickUp Find in raid 3 antique teapots; Find in raid 2 antique vases; Handover 3 antique teapots; Handover 2 antique vases
Ragman Charisma brings success Skill Increase the Charisma level to 10
Ragman No fuss needed Standing Increase the Therapist loyalty level to 3
Ragman Supervisor PickUp Get key from Goshan cash registers; Hand over key from Goshan cash registers
Ragman Scavenger Skill Earn 9 Search skill level
Ragman The stylish one Elimination Eliminate Killa 100 times
Ragman Textile - Part 1 Pickup Obtain in raid 5 pcs. of Aramid fiber cloth; Obtain in raid 10 pcs. of Ripstop cloth; Obtain in raid 3 pcs. of paracord; Hand over Aramid fiber cloth 5 pcs.; Hand over Ripstop cloth 10 pcs.; Hand over paracord 3 pcs.
Ragman Textile - Part 2 Pickup Obtain in raid 10 pcs. of Fleece cloth; Hand over Fleece cloth 10 pcs.; Obtain in raid 10 pcs. of Polyamide fabric Cordura; Hand over Polyamide fabric Cordura 10 pcs.; Obtain in raid KEKTAPE duct tape 5 pcs.; Hand over KEKTAPE duct tape 5 pcs.
Jaeger Acquaintance Completion Get 5 Iskra lunch box; Get 6 packs of Emelya rye croutons; Get 3 cans of delicious beef stew
Jaeger The survivalist path - Unprotected, but dangerous Completion Kill 5 scavs on Woods. You should not wear body armor
Jaeger The survivalist path - Thrifty Completion Stash "Iskra" MRE in the ZB-016 bunker; Stash bottle of water in the ZB-016 bunker; Stash "Iskra" MRE in the ZB-014 bunker; Stash bottle of water in the ZB-014 bunker
Jaeger The survivalist path - Zhivchik Experience Spend 5 minutes in a state of complete dehydration
Jaeger The survivalist path - Wounded beast Completion Kill 4 scavs while suffering from pain effect
Jaeger The survivalist path - Tough guy Completion Eliminate 4 scavs on Woods in a single raid. You must not use medicine. Don't use any medicine during the quest
Jaeger The survivalist path - Cold blooded Completion Eliminate 3 PMCs with the headshot while having tremor
Jaeger The survivalist path - Junkie Elimination Kill 20 scavs on Woods while having stimulant effects
Jaeger The survivalist path - Combat medic Completion Reach level 5 Vitality skill
Jaeger Huntsman path - Secured perimeter Completion Eliminate 8 PMС on Factory in the office area
Jaeger Huntsman path - The trophy Completion Eliminate Reshala; Find in raid the golden TT; Handover golden TT to Jaeger
Jaeger Huntsman path - Woods cleaning Completion Kill 40 scavs all over the Tarkov territory
Jaeger Huntsman path - Controller Completion Kill 2 PMCs blinded with the flashbang
Jaeger Huntsman path - Sell-out Elimination Eliminate Killa; Find In Raid Killa's helmet; Handover Killa's helmet to Jaeger
Jaeger Huntsman path - Woods keeper Completion Eliminate Shturman; Find in raid Shturman's key; Handover the Shturman's stash key to Jaeger
Jaeger Huntsman path - Justice Completion Kill 3 scavs that are dressed in police uniform
Jaeger Huntsman path - Evil watchman Completion Kill 7 PMCs in the Dorms area on Customs
Jaeger Huntsman path - Eraser - Part 1 Completion Find and eliminate Glukhar
Jaeger Huntsman path - Eraser - Part 2 Completion Eliminate 8 raiders
Jaeger Ambulance Completion Find in raid portable defibrillator; Find in raid 2 CMS surgery kits; Handover portable defibrillator; Handover 2 CMS surgery kits
Jaeger Shady business PickUp Find in raid 3 flash drives; Handover 3 flash drives
Jaeger Nostalgia Completion Find a room with the view of a bay, where Jaeger was staying; Find Jaegers' photo album; Handover photo album to Jaeger
Jaeger Fishing place Completion Find in raid 3 TerraGroup Labs access keycards; Handover 3 TerraGroup Labs access keycards
Jaeger Courtesy visit Completion Find priest house; Find fisherman house Find chairman house
Jaeger Hunting trip Completion Give the Jaeger 3x M700 sniper rifles of a certain configuration
Jaeger Reserv Completion Find the food storage
Jaeger "The Tarkov shooter" - Part 1 Elimination Kill 8 Scavs over 40 meters away with a Mosin rifle without a scope
Jaeger "The Tarkov shooter" - Part 2 Elimination Make 3 hits in the legs from more than 60 meters away with a Mosin Make 2 headshots from more than 60 meters away with a Mosin
Jaeger "The Tarkov shooter" - Part 3 Elimination Kill 4 PMC operatives with a Mosin at close range, less than 25 meters away
Jaeger "The Tarkov shooter" - Part 4 Elimination Level up the Sniper Rifles skill to 4
Jaeger "The Tarkov shooter" - Part 5 Elimination Kill 10 Scavs at Customs with a Mosin rifle between 21:00 and 5:00
Jaeger "The Tarkov shooter" - Part 6 Elimination Kill 7 Scav snipers with a Mosin
Jaeger "The Tarkov shooter" - Part 7 Elimination Kill 5 PMC operatives with a suppressed Mosin at least 55 meters away
Jaeger "The Tarkov shooter" - Part 8 Elimination Kill 3 PMC operatives with a Mosin over one raid in the Woods
Fence Collector PickUp Find an Old firesteel in raid; Handover the Old firesteel; Find an Antique axe in raid; Handover the Antique axe; Find a Battered antique Book in raid; Handover the Battered antique Book; Find a FireKlean gun lube in raid; Handover the FireKlean gun lube; Find a Golden rooster in raid; Handover the Golden rooster; Find a Silver Badge in raid; Handover the Silver Badge; Find a Deadlyslob's beard oil in raid; Handover the Deadlyslob's beard oil; Find a Golden 1GPhone in raid; Handover the Golden 1GPhone; Find a Jar of DevilDog mayo in raid; Handover the Jar of DevilDog mayo Find a Can of sprats in raid; Handover the Can of sprats; Find a Fake mustache in raid; Handover the Fake mustache; Find a Kotton beanie in raid; Handover the Kotton beanie; Find a Can of Dr. Lupo's coffee beans in raid; Handover the Can of Dr. Lupo's coffee beans; Find a Pestily plague mask in raid; Handover the Pestily plague mask; Find a Raven figurine in raid; Handover the Raven figurine; Find a Shroud half-mask in raid; Handover the Shroud half-mask
Facility Level Requirements
Air Filtering Unit 1 10,000 Dollars Level 3 Generator Level 3 Vents Skier LL3
Bitcoin farm 1 10 CPU Fan 5 Power supply unit 5 Powercord 1 Electric drill Level 2 Intelligence Center
Bitcoin farm 2 15 CPU Fan 5 Power supply unit 5 Printed circuit board 2 Phase control relay Level 3 Generator
Bitcoin farm 3 25 CPU Fan 10 Silicone tubes 2 Electric motor 4 Pressure gauges Level 1 Solar Power Level 3 Water Collector
Booze generator 1 4 Silicone tubes 2 Analog thermometers 2 Pressure gauges 5 Corrugated hose Level 3 Water Collector Level 3 Nutrition Unit
Generator 1 100,000 Roubles
Generator 2 5 Phase control relays 1 Electric motor 15 Wires Level 2 Security Level 2 Vents
Generator 3 6 Phase control relays 2 Electric motor 5 Spark plug 5 Power supply unit Level 3 Security Level 3 Vents Mechanic LL3
Heating 1 25,000 Roubles
Heating 2 50,000 Roubles Level 1 Endurance
Heating 3 8 Radiator helix 8 Wires Level 2 Generator Level 2 Workbench Level 2 Ragman
Illumination 1 10,000 Roubles
Illumination 2 14 Light bulb 5 Wires Level 1 Generator
Illumination 3 50,000 Roubles 7 Capacitors Level 2 Generator Mechanic LL2
Intelligence Center 1 1 Folder with intelligence Level 2 Security Level 2 Vents
Intelligence Center 2 3 Folder with intelligence 3 Secure Flash drive 4 Powercord 4 Damaged hard drive Level 3 Security Level 3 Medstation Level 3 Nutrition Unit Mechanic LL2 Level 3 Attention
Intelligence Center 3 2 Military COFDM wireless Signal Transmitters 2 VPX Flash Storage Modules 3 Gas analyzers 4 Military cable Level 3 Generator Prapor LL3
Lavatory 1 2,000 Roubles
Lavatory 2 3 Corrugated hoses 5 A pack of screws 1 Electric drill Level 1 Water Collector
Lavatory 3 6 Corrugated hoses 2 Pressure gauges 1 A set of tools 3 Xenomorph sealing foam Level 2 Water Collector
Library 1 400,000 Roubles Level 3 Rest Space Level 8 Memory skill
Medstation 1 25,000 Roubles
Medstation 2 50,000 Roubles 2 Medical bloodset 3 Saline solution Therapist LL2 Level 2 Health
Medstation 3 150,000 Roubles 4 Saline solution 1 LEDX Skin Transilluminator 1 Opthalmoscope Therapist LL3 Skier LL2 Vitality Level 3 Level 2 Lavatory
Nutrition unit 1 25,000 Roubles 2 Phase control relay Level 1 Generator
Nutrition unit 2 4 Wrench 2 Corrugated hose 2 Heat-exchange alkali surface washer 1 Phase control relay Level 2 Lavatory
Nutrition unit 3 125,000 Roubles 3 Coffee Majaica 3 Sodium bicarbonate Level 2 Generator Level 3 Lavatory Level 2 Stash Level 3 Metabolism
Rest Space 1 10,000 Roubles
Rest Space 2 35,000 Roubles Level 2 Generator Level 2 Heating Level 2 Ragman
Rest Space 3 3,000 Dollars 4 Powercord 5 Capacitors 7 Wires Level 3 Generator Level 3 Heating Skier LL3
Scav case 1 4 Bronze lion 6 Gold skull ring 8 Golden neck chain 4 Roler submariner gold wrist watch Level 2 Intelligence Center
Security 1 20,000 Roubles
Security 2 45,000 Roubles Level 2 Endurance
Security 3 2 Working LCD 4 Wires 8 NIXXOR lens 1 SSD drive Level 3 Illumination Mechanic LL2
Shooting range 1 4 A pack of nails 5 Screw nut 5 Bolts 3 Duct tape Level 2 Illumination
Solar power 1 15,000 Euros 4 Military cable 2 Phased array element 4 Military power filter Level 3 Generator Level 3 Workbench Peacekeeper LL4
Stash 1 Purchase of EFT Standard Edition
Stash 2 Purchase of EFT Left Behind Or 3,500,000 Roubles 1 Hand drill 7 A pack of screws 4 WD-40 100ml.
Stash 3 Purchase of EFT Prepare for Escape Or 8,500,000 Roubles 2 Electric drill 8 A pack of screws Level 2 Heating Level 2 Vents Prapor LL3 Ragman LL3
Stash 4 Purchase of EFT Edge of Darkness Or 150,000 Euros Level 3 Generator Level 3 Workbench Level 3 Heating Level 3 Intelligence Center Peacekeeper LL4 Ragman LL4
Vents 1 25,000 Roubles
Vents 2 1 Electric motor 1 Car battery
Vents 3 4 Electric motor 14 Wires 5 Printed circuit board 4 Car battery Level 2 Generator Level 2 Strength
Water collector 1 4 Corrugated hose 5 Bolts 5 Screw nut 3 Duct tape
Water collector 2 6 Corrugated hose 2 Electric motor 2 A set of tools Level 2 Workbench Jaeger LL2 Level 3 Attention
Water collector 3 125,000 Roubles 2 Pliers Elite 5 Shustrilo sealing foam Level 3 Generator Level 3 Heating Jaeger LL3
Workbench 1 2 Screw nuts 2 Bolts 1 Leatherman Multitool
Workbench 2 3 A set of tools 2 Electric drill 6 Bolts Level 2 Illumination Mechanic LL2
Workbench 3 195.000 Roubles 2 Pliers Elite 1 FireKlean gun lube Level 2 Stash Mechanic LL3
Christmas tree 1 10,000 Roubles 1 Christmas tree decoration ball (red) 1 Christmas tree decoration ball (silver) 1 Christmas tree decoration ball (violet)
submitted by TraumaJeans to EscapefromTarkov [link] [comments]

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