The U.S. Cracked a $3.4B Crypto Heist–and Bitcoin’s Anonymity

Re:The U.S. Cracked a $3.4B Crypto Heist–and Bitcoin’s Anony... by from on Wednesday April 12, 2023 @07:34PM (#35548608)

I assume people involved in this sort of activity would convert to Monero first (can be done without KYC in a 100 different places). Then they would go to localmonero or a site like it and select cash in the mail. They would round to the nearest XMR at a time when transacting on localmonero so that even if the exchangers they used were compromised the government wouldn't be able to link them to the initial BTC->XMR swap based on transaction amounts.

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Re:The U.S. Cracked a $3.4B Crypto Heist–and Bitcoin’s Anony... by PeterisP on Thursday April 13, 2023 @06:00AM (#35553230)

Not at this scale. You can do many transactions in the way that you describe and perhaps withdraw a million dollars, but you can't launder a billion dollars this way.

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Re:The U.S. Cracked a $3.4B Crypto Heist–and Bitcoin’s Anony... by yieldcrv on Thursday April 13, 2023 @08:00AM (#35554098)

rolls eyes

Not at once

He was doing it over 6 years no problem

You don’t need a billion, you need a few million and he got that and it wasn’t even part of the investigation or why he got caught

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