3 ms·

How do you get lots of actual dirty cash into a dirty wallet?

• colinmhayes 5y ago
  Take payments in crypto instead of cash.
  • landemva 5y ago
    That is crypto-to-crypto. Your earlier comment said there are dirty wallets. How does someone get dirty cash in to that dirty wallet? For example, which bank allows deposit of dirty cash so the bank account holder can then wire the funds to an exchange?
    • colinmhayes 5y ago
      You can have a dirty wallet from crypto that you've gotten illegally. If you are a merchant on a darknet market your wallet is dirty. If you wrote malware and got someone to pay you a ransom you have a dirty wallet. There are basically an infinite number of ways to have a crypto address with significant holdings that the government has "frozen" so that it can't be converted to fiat. Of course there are other strategies for laundering crypto, this one has the added benefit of actually making money instead of losing it.
      • landemva 5y ago
        Oh, so you didn't mean it is great for laundering dirty cash. Maybe cash crimes stopped when NFTs arrived. This is good news for law enforcement because of the public ledger showing all transactions forever.