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I've only been into bitcoin mining and trading for about a month now, so take this with a grain of salt, but: If were the criminal behind this heist and I want
by zupreme 14y ago
I've only been into bitcoin mining and trading for about a month now, so take this with a grain of salt, but:
If were the criminal behind this heist and I wanted to whitewash these bit coins, I would first establish several new wallets, would divide the coins between them, then would programmatically transfer the coins back and forth between the accounts in random amounts at short but random intervals over the course of several months to increase the noise level. I would then (again programmatically) buy a different electronic currency (namecoins, etc.) with them to obscure the trail even more. Finally I could transfer them back into bitcoins, using several new wallets.
At that point they could be cashed out or spent more or less freely.
Again, I'm new to bit coins so I may not know all the dynamics involved, but what I have outlined seems logical based on what I know at this point.
- maxerickson 14y agoIf I have it right, the self transactions wouldn't do much (because the transaction history of the bitcoin system is public). A few other comments mention that Mt. Gox is treating certain coins within some distance of certain accounts as tainted and freezing those transactions.