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A comment on Man used Coinbase to pay hitman in Bitcoin for wife's murder, FBI says. Parent comment

Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by m4x on Tuesday May 11, 2021 @03:26PM (#27122377)
Only because the criminal hasn't yet tried to use that bitcoin to buy something in the real world.

If they try to convert to fiat via an exchange, they can be identified the same way the husband was. If they try to buy products directly without using fiat then it is harder for law enforcement to get the records they need, but still quite possible.

They will probably be safe if they never touch the bitcoin, but that entirely defeats the purpose of using it

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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by jeppesen-io on Tuesday May 11, 2021 @03:33PM (#27122461)
> Only because the criminal hasn't yet tried to use that bitcoin to buy something in the real world.

An asumption you're making and likely untrue. There are many ways to convert to fiat or skip that step and luander through the dark web

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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by ignoramous on Tuesday May 11, 2021 @03:45PM (#27122599)
Don't need darkweb for that if you're very careful with how you execute trades on https://localbitcoins.com/ (a service that I believe predates coinbase, circle et al)

Usually, one'd use a coin like Monero instead, the project's wretched history notwithstanding.

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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by caeril on Tuesday May 11, 2021 @05:14PM (#27123611)
What is wretched about Monero's history?
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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by ignoramous on Tuesday May 11, 2021 @09:00PM (#27125491)
https://en.wikipedia.org/wiki/Monero#History
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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by phasnox on Tuesday May 11, 2021 @11:02PM (#27126124)
What is wretched in there?
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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by ignoramous on Monday May 17, 2021 @05:29PM (#27188682)
As with any "anonymity" tech (like Tor and the Dark Web), Monero is linked with all sorts of things. I, personally, feel uneasy investing in / using Monero because of that, especially since it isn't also a stable coin.

I can see a lot of value in it though, just like how I see value in Freenet, I2P, Tor and other such overlay networks.

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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by divbzero on Tuesday May 11, 2021 @03:29PM (#27122419)
Bitcoin is more traceable than cash, but surely creative criminals have worked out a way to launder it?
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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by Thorentis on Tuesday May 11, 2021 @05:50PM (#27124006)
People doing nafarious things don't cash out using exchanges. They use things like localbitcoins to make a trade in person (or through an intermediary), and obviously lose a percent of the value in doing so. At that point it basically becomes a cash transaction.
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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by tw04 on Tuesday May 11, 2021 @05:22PM (#27123693)
And if they run it through a coin washer?

https://bitcoinlaundry.online/en/index.htm

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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by Larrikin on Tuesday May 11, 2021 @05:45PM (#27123945)
Most of the big exchanges don't allow cashing out of coins run through those anymore.
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Re:Man used Coinbase to pay hitman in Bitcoin for wife's mur... by SahAssar on Tuesday May 11, 2021 @03:45PM (#27122602)
What about tumblers/mixers?
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