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Sorry for the uneducated question here, but I've wondered how those who steal crypto-currency "launder?" their ill-gotten coin. More specifically, how do they n
by JohnKacz 9y ago
Sorry for the uneducated question here, but I've wondered how those who steal crypto-currency "launder?" their ill-gotten coin. More specifically, how do they not get caught since the blockchain records everything? Take it out really quickly? Move little bits around to obscure ownership in some kind of shell game? Am I just totally off-base with my understanding?
- Pfiffer 9y agoYou're not far off, I think it's usually done through a mixer: https://en.wikipedia.org/wiki/Bitcoin_mixer https://en.wikipedia.org/wiki/Bitcoin_mixer
- asddddd 9y agoThat works, but you can also just deposit to an exchange/service, withdraw on another chain (i.e. btc -> eth) and repeat this a few times. Unless there's a large target on your back, even doing this once will effectively destroy any paper trail - especially if it's an offshore exchange that uses subpoenas for toilet paper (most of them?).
- evbots 9y agonot necessary to launder if you steal something like zcash or monero.