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Properly implemented "Laundering" services for crypto currency can make follow-the-money effectively useless. The funds are transferred to a wallet, they are m

by jjeaff 7y ago

Properly implemented "Laundering" services for crypto currency can make follow-the-money effectively useless. The funds are transferred to a wallet, they are mixed with many other coins, and then they are paid out in different sized transactions to the recipient. Assuming you have a busy enough pool, it should be technically untraceable.

dingdongding 7y ago
Just like giant corporate balance sheets?
hdfbdtbcdg 7y ago
Sounds like something where if you offered that as a service you would probably be legally required to Know Your Customer and to keep records...
- Kuinox 7y ago
  These services does not require manipulating real money. To run the service, it requires a device connected to the internet, that all. You can find a lot of way to host it in a country that don't have these requirements, or to host it anonymously.
  - Nursie 7y ago
    Mixers are now a target for law enforcement though, just so you know.
    - Kuinox 7y ago
      I know, but you can easily do a service on a decentralized service really hard to shutdown, anonymously.
Svoka 7y ago
Honestly, it seems like you’re trying to make it sound like a device one would use exclusively for scamming.
- feanaro 7y ago
  The poster was replying to a comment discussing traceability by the FBI so he can hardly be blamed for the topic.
- DagAgren 7y ago
  Not exclusively - it is also used for extortion, laundering money, and paying for illegal goods and services.
zaarn 7y ago
Until you want to make it into useful things and then the IRS will be asking how you bought that car and where the money came from. If it came from a laundering pool of bitcoins, tough luck convincing anyone you didn't do money laundering.