4 ms·

What an unbelievable scam. Is this just money laundering? Lost money ain't taxed the same.

by peteradio 5y ago

baobabKoodaa 5y ago
> Is this just money laundering? Lost money ain't taxed the same. No. How would that even work? Did all the beanholders conspire together to frame this hack? Even if they did, what they'd end up with is transforming a bunch of clean money into a bunch of dirty money. The point of money laundering is usually to do that thing in the other direction.
- peteradio 5y ago
  What is the point of stealing this money then? Presumably the "thief" thinks they will be able to cash in on it in some way. Can these "losses" be used to avert taxes on the part of the "investor"? If the pain of the laundering is less than the potential tax avoidance then you might have a profitable laundry outfit.
  - baobabKoodaa 5y ago
    > What is the point of stealing this money then? Presumably the "thief" thinks they will be able to cash in on it in some way. Yes, exactly, and that is distinctly different from your earlier hypothesis that the whole thing may have been a conspiracy to money launder on behalf of the people who lost money. > Can these "losses" be used to avert taxes on the part of the "investor"? If the pain of the laundering is less than the potential tax avoidance then you might have a profitable laundry outfit. Look, if this was a single person who claimed to have lost a bunch of crypto to a hack, then you might plausibly weave this story, but it's not a single person. It's a bunch of random people. This bunch of random people didn't collude together to fake a hack to create tax losses to offset their realized capital gains from somewhere else. And even if they did do that, that wouldn't be called "money laundering", money laundering is something they would have to do later, to hide the origin off their newly-ill-gotten wealth.

4 ms·

What an unbelievable scam. Is this just money laundering? Lost money ain't taxed the same.

by peteradio 5y ago

What an unbelievable scam. Is this just money laundering? Lost money ain't taxed the same.

baobabKoodaa 5y ago
> Is this just money laundering? Lost money ain't taxed the same. No. How would that even work? Did all the beanholders conspire together to frame this hack? Even if they did, what they'd end up with is transforming a bunch of clean money into a bunch of dirty money. The point of money laundering is usually to do that thing in the other direction.
- peteradio 5y ago
  What is the point of stealing this money then? Presumably the "thief" thinks they will be able to cash in on it in some way. Can these "losses" be used to avert taxes on the part of the "investor"? If the pain of the laundering is less than the potential tax avoidance then you might have a profitable laundry outfit.
  - baobabKoodaa 5y ago
    > What is the point of stealing this money then? Presumably the "thief" thinks they will be able to cash in on it in some way. Yes, exactly, and that is distinctly different from your earlier hypothesis that the whole thing may have been a conspiracy to money launder on behalf of the people who lost money. > Can these "losses" be used to avert taxes on the part of the "investor"? If the pain of the laundering is less than the potential tax avoidance then you might have a profitable laundry outfit. Look, if this was a single person who claimed to have lost a bunch of crypto to a hack, then you might plausibly weave this story, but it's not a single person. It's a bunch of random people. This bunch of random people didn't collude together to fake a hack to create tax losses to offset their realized capital gains from somewhere else. And even if they did do that, that wouldn't be called "money laundering", money laundering is something they would have to do later, to hide the origin off their newly-ill-gotten wealth.