Re:$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just ...
by atat7024 on Wednesday April 14, 2021 @06:26PM
(#26813869)
So if someone buys a stick of gum from me after taking rent money from a tainted BTC address, I get flagged?
Re:$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just ...
by londons_explore on Wednesday April 14, 2021 @06:42PM
(#26814018)
It only takes a few exchanges refusing to flag coins and the whole flagging system fails.
The bad money gets mixed with the good in the exchanges wallet, and sent to random people...
Re:$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just ...
by chii on Wednesday April 14, 2021 @08:40PM
(#26814909)
> a few exchanges refusing to flag coins
they may not have a choice if the gov't regulation forces them to flag it.
Re:$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just ...
by o-__-o on Wednesday April 14, 2021 @06:34PM
(#26813935)
Currency of the future
Re:$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just ...
by spurdoman77 on Thursday April 15, 2021 @02:16AM
(#26816706)
If tumblers are a problem, why wouldnt monero be? You could view it just as a BTC that has built-in tumbler. I dont really follow this logic of Monero shills. Exchanges can ban both tumblers AND monero.
Many exchanges refuse to accept coins that have passed through a tumbler. If you attempt to deposit these coins, the exchange will refuse to credit you unless you provide copious amounts of documentation. Currently they do not seize your coins but will force you to withdraw them.
Some exchanges are even going through users' deposit histories and are retroactively flagging deposits from coin mixing services: https://twitter.com/kristapsk/status/1374336620158140419
This is why many criminals are moving away from Bitcoin into Monero, which has anonymized transactions and doesn't suffer from the chain analysis problem.