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It's massively common. USDT is the usual coin of choice because even though the ledger is public, the convenience and relative stability massively outweighs the
by multjoy 1y ago
It's massively common. USDT is the usual coin of choice because even though the ledger is public, the convenience and relative stability massively outweighs the security risks. In the jobs I've seen, the marks will be 'investing' in BTC but the criminals will be moving those funds out into USDT the moment it hits the bandit wallet.
- hoppp 1y agoUSDT can be frozen so its not the best choice. Its definitely a failure of the Tether team if criminals can openly use it to launder funds without it getting frozen, but they are famously anti regulation.
- cempaka 1y agoThe usefulness in money laundering is a feature not a bug, and is why Tether is permitted to continue operating.
- piracyrules 1y ago[dead]
- stephen_g 1y agoFrom what I've heard about Tether (allegedly printing tethers backed by loans to insiders, or backed by very risky commercial paper, or even potentially billions of USDT backed by nothing), I think being useful for money laundering is the least of anyone's worries...
- piracyrules 1y ago[dead]