Presumably he will send some/all of the coins to himself (plausible deniability). Or maybe, you are right, he is not directly attempting to launder, but just "

Presumably he will send some/all of the coins to himself (plausible deniability). Or maybe, you are right, he is not directly attempting to launder, but just "creating noise" in the block chain to make it hard for investigators to trace the stolen coins.