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No, the 600 million can re-enter circulation at any time.
by Tepix 5y ago
No, the 600 million can re-enter circulation at any time.
- paulpauper 5y agoU can't cash out 550 million stolen into fiat easily if at all. It will languish in the stolen wallets for years as the thief devises a way to launder it slowly and wait for the heat to die down
- colinmhayes 5y agoThe hacker already swapped hundreds of millions. They'll coinjoin it next and then it's ready to be deposited on exchanges.
- paulpauper 5y agoU can't just deposit 500 million and then cash out into greenbacks. Coinjoin does not work that well for so much. Even the biggest mixers only processed a fraction of that. Major alarm bells would be going off for even just a tiny fraction of that if someone even tried to deposit that much legit crypto
- colinmhayes 5y agoI don't see why exchanges would reject say $1 million in clean crypto.Maybe not coinbase, but the offshore exchanges would probably be fine.
- paulpauper 5y agoall exchanges that deal in any signficant volume have pretty strict KYC/AML. Liekly it would be flagged by automated screeng and then reviewed by staff, who would notice patterns of mixing, and then either return the crpyto or freeze it pending addtional info.
- colinmhayes 5y agoSwap after mixing and I don't think anyone would care. There are plenty of legitimate users of defi swappers.
- paulpauper 5y agoProbably a few million broken up and sold slowly could be done . Hundreds of millions...doubt it