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No different for crypto. What I can I do with 100's of millions of dollars worth of tainted ETH ? The only thing you can really buy with coins are NFTs, if I
by manquer 5y ago
No different for crypto.
What I can I do with 100's of millions of dollars worth of tainted ETH ?
The only thing you can really buy with coins are NFTs, if I want to buy a house or car or plane or whatever with the loot, I still have to convert that ETH to cash, major exchanges will blacklist these tokens, washing services/ coins cannot easily handle this volume, extracting value out of this size is just as complicated as regular crime.
- SXX 5y ago> What I can I do with 100's of millions of dollars worth of tainted ETH ? For instance you can spent few millions and get literally every re-used address tainted. Just sent $1 worth of ETH to top 1,000,000 single address holding meaningful amount of ETH, or expensive NFTs, etc. Then every legit exchange will have huge issue with maintaining blacklists. Oh and you can also sent 1 million to random people and 1 million to your own addresses. Or just sell some of your crypto on P2P exchange at 2-3x rate with collateral. There will be literally thousands of people who gonna be happy to accept your tainted ether if you pay them good enough. PS: So I literally see tons of opportunities how to do this kind of mixing. Yeah you'll lose huge percent of money, but even half of 300 millions is a lot of money.
- mhitza 5y ago> What I can I do with 100's of millions of dollars worth of tainted ETH ? You wash them through different coin swap contracts. Even losing $10 million worth, in gas/processing fees, is just 3.125% at the current estimated value.