4 ms·

You also need to trust that your criminal middleman with $100M doesn't just abscond with your money. With cryptocurrency when its in your wallet, its yours, an

• dragontamer 5y ago
  I assume a money-laundering step (aka: a cryptocoin mixer service) needs to be used to practically extract wealth from a criminal activity. If you directly use the money from a wallet directly related to a ransomware attack, the police would be on your tail almost immediately. A cryptocoin mixing service is cheaper than traditional money laundering. So cryptocoins are the ideal solution to criminal activities (at least, better than Tide Laundry pod trading, or gift-card exchanges).
  • VectorLock 5y ago
    Some places the cops don't care. And $100M would be a lot of Tide pods.
    • dragontamer 5y ago
      > And $100M would be a lot of Tide pods. That's true. They'd probably launder through some other commodity: cocaine for instance, or other contraband. I know that Tide Detergent was highly sought after by criminals, because of how easy it is to sell on the streets. Its got a highly consistent price around the country, so all you need to do is sell at slightly below market rates and bam, your money-laundering scheme is complete. And unlike cash, Tide Detergent doesn't really have a serial-number that's tracked by the Secret Service (or other police organizations). So its better than cash in many respects. But its still an item that's in the ~$10 to $20 range at best. More expensive commodities and/or contraband probably would make better sense at the 100M sizes.