Here's someone who should have used crypto and not cash

in #cryptocurrency6 years ago


The Kazazi family, robbed of $58,100 by US customs agents (Image captured from CNN website)

Rustem Kazazi, who lives and works in the USA, wanted to bring money to his family in Albania. A lot of money.

Rather than just transferring it by Western Union or bank wire, to save those, fees Mr Kazazi decided to transport the money -- $58,100 in all -- as cash in his carry-on bag.

Big mistake. Walking around with a suitcase full of benjamins may work out just fine in the movies, but customs and law enforcement officers do not look kindly on real suitcases stuffed with real money -- even if the total is below the $10,000 declarations threshold. It suggests to them the owner has some nefarious purposes for all that cash.

So, before he even got close to an international departure terminal, they took Mr Kazazi's money. And so far, they are not giving it back. He and his family are suing to get it back, because it's their entire life savings.

It's maybe too late for Mr K, but if you really want to move that kind of cash around, convert it to Bitcoin or some other cryptocurrency, and put it on a Ledger Nano S, KeepKey, Trezor, or heck, a lowly USB stick.

For love of your sanity, don't walk around with suitcases full of cash money! The thieves around you include the government that's supposedly there to protect you from (other) criminals.

For details about Mr Kaxazi's story, refer to this report on CNN.

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