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Yes, up to a limit. It's super trivial to withdraw, say, 1M. You can use https://tornado.cash/ https://tornado.cash/ to mix 100 ETH, there's currently around 1
by ikeboy 5y ago
Yes, up to a limit.
It's super trivial to withdraw, say, 1M. You can use https://tornado.cash/ https://tornado.cash/ to mix 100 ETH, there's currently around 10k such deposits, so you could do that 2-3 times to move 1M in ETH to an address that can't be tied to your previous addresses.
It's possible but no longer trivial to withdraw 10M. You could use the above method over a period of time, and some other methods.
It becomes much more difficult at much higher values. You could probably get 100M out disguised as trading profits or something. If I spent a few days thinking about it I could probably figure out ways to mix that much money on ETH, filter through DeFi apps, etc. Seems doable.
You could also just work with large exchanges that don't care. I don't know which ones are like that now, probably fewer than years ago.
- intotheabyss 5y agoYou don't need to. You can send the ETH to tornado.cash. Their anonymity set is such that 100 million would take a long time, but on the order of months to withdraw. Tornado.cash has millions in total locked value in different ETH denominated pools.
- ikeboy 5y agoYeah I guess, as long as ETH stays around the current level. But if you do hundreds of withdrawals from tornado, it's less anonymous, because the set of people that have deposited that range to tornado is much smaller than the set of people who did a handful of deposits. Instead of 10k, you might be one of a few dozen or less. You could always send a million to a friend (through tornado) and have them cash out for a cut, and repeat that 100 times, if you have 100 friends. That would kill on-chain analysis.
- skeeter2020 5y agoThe fact that everyone's first answer when prompted "how do we wind down this huge pile of cryptocurrency?" is convert it to fiat makes me skeptical on all the long-term ambitions from promoters.
- intotheabyss 5y agoWell you could take the ETH and stake in the beaconchain and get 8% more ETH per year (depending on staking rates). Or you could use the ETH to get a loan in DAI on Compound or Maker. Or you cn buy synthetic assets like stocks on Synthetix. Plenty of things to do in the Ethereum ecosystem.