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If you did a crime and made money in Bitcoin, deposited at an exchange, traded it for Monero, cashed out, sent it to a different exchange, traded back for BTC,
by ProjectArcturis 5y ago
If you did a crime and made money in Bitcoin, deposited at an exchange, traded it for Monero, cashed out, sent it to a different exchange, traded back for BTC, cashed out, and went to a different exchange to turn it to dollars, how would anyone trace that? Someone would need to link internal data from the second and third exchanges in order to even know you ever owned Monero.
- stevenjgarner 5y agoEvery time I have tried to "cash out" there has been a significant restriction on the amount of the transaction, or the exchange rate has not been favorable. Isn't quantity a problem, given that many crypto cyber-crimes involve a lot of money?
- wmf 5y agoI think my limit is $50K/day which seems like plenty. Maybe shady accounts have lower limits.
- paulpauper 5y agoyour transfers would simply be flagged by exchanges and then then any relevant info possibly sent to authorities
- piyh 5y agoYou could look for regularity of transactions and build a pattern. It would be like a Tor timing attack. You also can look and probably get intel that the BTC is coming from large Monero transactions and get AML heat on you.
- noobly 5y agoThe problem is in laundering this money, i.e entering it into the legal system such that the IRS or whatever approves. You can't just deposit huge sums of unexplained money.
- Tangokat 5y agoYou can't just deposit large amounts of Monero to an exchange without a REALLY good reason. Monero is a red flag these days.