Re:Feds arrest couple, seize $3.6B in hacked Bitcoin funds
by Firmwarrior on Tuesday February 08, 2022 @01:55PM
(#30262764)
Someone was saying they could have moved to South America and laundered $1000 at a time, but you'd think that the US government could've easily tracked that down as well.. "Hmm, it appears someone is living off this stolen 3 billion dollars in South America"
Re:Feds arrest couple, seize $3.6B in hacked Bitcoin funds
by notch656a on Tuesday February 08, 2022 @02:12PM
(#30263019)
How would you trace $1000 to a larger source after it passes through a privacy coin? The only way to do that is either with some side channel information, or by monitoring the person selling the funds. In a cash economy in the third world the odds of that look pretty poor. I think what happened is large deposit in bank account caused some to start asking questions.
> anonymity-enhanced virtual currency (AEC), in a practice known as “chain hopping”; and using U.S.-based business accounts to legitimize their banking activity.
Their problem was that they "closed" the money circle by sending it to real bank accounts. That's how they caught their trace. It seems that laundering billions of dollars is not as easy as they thought haha.