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> ... laundering millions of dollars in cryptocurrencies was easily achieved though services such as ShapeShift ... I'd like to request a source on that. It wa

> ... laundering millions of dollars in cryptocurrencies was easily achieved though services such as ShapeShift ... I'd like to request a source on that. It was my understanding that ShapeShift limited trade sizes, so moving large amounts was difficult, impractical, slow, and exposed to a lot of market value risk.

badge 8y ago
Any basic search within the Bitcoin community and you'll find many many guides and services for Bitcoin money laundering: https://old.reddit.com/r/CryptocoinMixing/ https://old.reddit.com/r/CryptocoinMixing/ https://bitcointalk.org/index.php?topic=436467.0;all https://bitcointalk.org/index.php?topic=436467.0;all https://darknetmarkets.org/a-simple-guide-to-safely-and-effectively-mixing-bitcoins/ https://darknetmarkets.org/a-simple-guide-to-safely-and-effe... https://ethereum.stackexchange.com/questions/2699/is-there-any-ether-mixer-tumbler-available https://ethereum.stackexchange.com/questions/2699/is-there-a... Vitalik Buterin himself has attempted a money laundering feature into the Ethereum Virtual Machine codebase: https://github.com/ethereum/serpent/blob/develop/examples/ecc/ringsig.se https://github.com/ethereum/serpent/blob/develop/examples/ec... Another famous way to launder money as described in this post from a moderator on BitcoinTalk dated August 22, 2013, 02:32:31 AM [ https://bitcointalk.org/index.php?topic=279249.0 https://bitcointalk.org/index.php?topic=279249.0 ] , is to give Bitcoin to a mining pool in return for renting their hashpower, in return for freshly minted coins: https://www.nicehash.com/buy https://www.nicehash.com/buy
- npongratz 8y ago
  Please forgive me if I'm being dense, but I was asking for a source to the claim that ShapeShift (in particular, since you singled them out above) could "easily" be used to launder "millions of dollars." After reading through these links, I'm still not convinced. Only one link you listed mentions ShapeShift, which to some credit, suggests a theoretical, many-step, multi-blockchain process for using ShapeShift in such a way. My understanding still hasn't changed that "moving large amounts [with ShapeShift before AML/KYC] was difficult, impractical, slow, and exposed to a lot of market value risk," but I'm interested in evidence to the contrary.
  - badge 8y ago
    Sealioning (also spelled sea-lioning and sea lioning) is a type of trolling or harassment which consists of pursuing people with persistent requests for evidence or repeated questions, while maintaining a pretense of civility so as to discredit their target ShapeShift was setup without any KYC/AML or login, thus it facilitated automation. More obviously, the entire ecosystem is designed for money laundering. As evident the previous post, and any rudimentary search will turn up countless results on services or guides on using native wallet apps for Bitcoin or Monereo to mix and launder wallet addresses.

badge 8y ago

Any basic search within the Bitcoin community and you'll find many many guides and services for Bitcoin money laundering: https://old.reddit.com/r/CryptocoinMixing/ https://old.reddit.com/r/CryptocoinMixing/ https://bitcointalk.org/index.php?topic=436467.0;all https://bitcointalk.org/index.php?topic=436467.0;all https://darknetmarkets.org/a-simple-guide-to-safely-and-effectively-mixing-bitcoins/ https://darknetmarkets.org/a-simple-guide-to-safely-and-effe... https://ethereum.stackexchange.com/questions/2699/is-there-any-ether-mixer-tumbler-available https://ethereum.stackexchange.com/questions/2699/is-there-a... Vitalik Buterin himself has attempted a money laundering feature into the Ethereum Virtual Machine codebase: https://github.com/ethereum/serpent/blob/develop/examples/ecc/ringsig.se https://github.com/ethereum/serpent/blob/develop/examples/ec... Another famous way to launder money as described in this post from a moderator on BitcoinTalk dated August 22, 2013, 02:32:31 AM [ https://bitcointalk.org/index.php?topic=279249.0 https://bitcointalk.org/index.php?topic=279249.0 ] , is to give Bitcoin to a mining pool in return for renting their hashpower, in return for freshly minted coins: https://www.nicehash.com/buy https://www.nicehash.com/buy

npongratz 8y ago
Please forgive me if I'm being dense, but I was asking for a source to the claim that ShapeShift (in particular, since you singled them out above) could "easily" be used to launder "millions of dollars." After reading through these links, I'm still not convinced. Only one link you listed mentions ShapeShift, which to some credit, suggests a theoretical, many-step, multi-blockchain process for using ShapeShift in such a way. My understanding still hasn't changed that "moving large amounts [with ShapeShift before AML/KYC] was difficult, impractical, slow, and exposed to a lot of market value risk," but I'm interested in evidence to the contrary.
- badge 8y ago
  Sealioning (also spelled sea-lioning and sea lioning) is a type of trolling or harassment which consists of pursuing people with persistent requests for evidence or repeated questions, while maintaining a pretense of civility so as to discredit their target ShapeShift was setup without any KYC/AML or login, thus it facilitated automation. More obviously, the entire ecosystem is designed for money laundering. As evident the previous post, and any rudimentary search will turn up countless results on services or guides on using native wallet apps for Bitcoin or Monereo to mix and launder wallet addresses.