Topic: Dark Web Drug Dealer Indicted for Laundering $137 Million in Bitcoin From Prison (Read 312 times)
August 24, 2021, 03:15:13 PM
if this is a Cryptocurrency crime, the police certainly have the authority to eradicate crime, such as money laundering from the proceeds of crimes such as drugs and we hope that what has been done by these officers can reduce crime, especially mothers who produce assets from drugs by laundering their money in bitcoin, of course it is a step that is very appropriate with what law enforcement officials there are taking
August 24, 2021, 06:10:22 AM
Of course this is the realm of the apparatus to process the law regarding crimes committed by perpetrators related to money laundering proceeds from drugs that are carried out to buy bitcoin, because this is the biggest crime that allows perpetrators to be punished with severe penalties, we should appreciate what they did. carried out by the apparatus in eradicating crime in the world of cryptocurrencies
August 24, 2021, 05:51:10 AM
The whole story might be fake, but I have watched some interviews on YouTube (it is on Russian, but you can switch on subs if you want) with Russian hackers (badb for example), that served sentence in US and they said it is possible to get a smartphone in fed prisons. It cost about $5k per phone. Especially it is easy if there are a lot of Italians in the prison, because they have their men everywhere and have a lot of money.
I have a strong believe, that if a prisoner have a lot of money, and with a current level of corruption, it is possible to get everything in cell.
I have a strong believe, that if a prisoner have a lot of money, and with a current level of corruption, it is possible to get everything in cell.
Then there may be rare exceptions. Prison gangs are very active, even in federal prisons. And it is not just the Italians, but also the Latinos and East European gangs who are involved in this. For these gangs, it is easier to launder money, because they are trans-national, unlike the local gangs such as Aryan Circle or the Crips. And not all the federal prisons have the same level of security. For example, ADX Florence and USP Marion can't be equated to low-security prisons such as Marianna Federal Correctional Institution.
August 24, 2021, 03:09:40 AM
It is truly the other side of using bitcoin, many people grab the opportunities to used it on illegal activities that's why bitcoin is the victim here no matter what. Its just people putting bad names on it that's why people has no knowledge about bitcoin will directly bitcoin is bad but people who has knowledge about will truly defend bitcoin that it has great usage for us and it will have a mass adoption towards it.
August 24, 2021, 02:49:07 AM
How can he do this things from inside the prison?? The prison system should be more secure and maintain all the prisoners .And bitcoin is a payment method .it depends on the people how he uses it
August 24, 2021, 02:43:27 AM
I think this is nothing new related to drug money laundering by buying bitcoin and this has happened very often not only with drug money but also a lot of money with other crimes committed to buy bitcoin on the stock market, of course every country has its own their respective officers to uphold justice or to apprehend the perpetrators of crime, let alone the proceeds to buy bitcoins
I believe they just wanted to put all blame on bitcoins since they caught the suspect using bitcoin to launder his money but the problem here is the illegal things they've done that have nothing to do with bitcoins. They just used bitcoins for their props to avoid getting caught but in the end, it turns out different from what they've expected. I think this won't really affect anything in the market right now since this kind of event is not new and people already know the truth about bitcoins that it has nothing to do with the illegal activities and alike of it.
August 24, 2021, 02:02:36 AM
Everything has two sides. Bitcoin money laundering does give some drug dealers the opportunity to launder money, but if a certain country destroys the source of the drug and directly cuts off the planting base of the drug, can it still launder money?
Even without Bitcoin, money laundering still exists.
Even without Bitcoin, money laundering still exists.
August 24, 2021, 01:31:34 AM
That may be possible in the third world nations, but definitely not in the United States. Xanaxman (Ryan Farace) is currently serving a 5-year sentence in one of the most secure federal prisons in the United States. If he was in some state or county prison, then I would have agreed that there was a minute chance of this happening. You have no idea about federal prisons, if you claim that prisoners can get smartphones inside their cells. From what I heard, his father laundered the coins for him.
The whole story might be fake, but I have watched some interviews on YouTube (it is on Russian, but you can switch on subs if you want) with Russian hackers (badb for example), that served sentence in US and they said it is possible to get a smartphone in fed prisons. It cost about $5k per phone. Especially it is easy if there are a lot of Italians in the prison, because they have their men everywhere and have a lot of money.
I have a strong believe, that if a prisoner have a lot of money, and with a current level of corruption, it is possible to get everything in cell.
August 23, 2021, 11:09:08 AM
I think this is nothing new related to drug money laundering by buying bitcoin and this has happened very often not only with drug money but also a lot of money with other crimes committed to buy bitcoin on the stock market, of course every country has its own their respective officers to uphold justice or to apprehend the perpetrators of crime, let alone the proceeds to buy bitcoins
Of course it's nothing new, people have been using that ever since, I mean that's how I've learned of bitcoin, through watching YouTube videos about different topics like this one. Also, there's more ways to launder money now, this person is just sloppy so he got caught, one is caught but another two has slipped by. August 23, 2021, 09:26:12 AM
Nothing weird about that situation. Xanaxman was only the conductor, and all the operations and crimes were performed by his accomplices. And it is not a secret that prisoners can buy phones or even smartphones. Sometimes the guards even sell them to them.
I think that he simply gave secret orders when someone visits him, and the crime was just added to his crime list. This is the same as Al Capone thugs robs someone and everyone talks that "it was done by Al Capone".
I think that he simply gave secret orders when someone visits him, and the crime was just added to his crime list. This is the same as Al Capone thugs robs someone and everyone talks that "it was done by Al Capone".
That may be possible in the third world nations, but definitely not in the United States. Xanaxman (Ryan Farace) is currently serving a 5-year sentence in one of the most secure federal prisons in the United States. If he was in some state or county prison, then I would have agreed that there was a minute chance of this happening. You have no idea about federal prisons, if you claim that prisoners can get smartphones inside their cells. From what I heard, his father laundered the coins for him.
August 23, 2021, 09:04:29 AM
It's weird how they can lead this kind of operations from inside a prison. That's a clue that the prison system in functioning properly. That's government fault and it should be corrected.
Nothing weird about that situation. Xanaxman was only the conductor, and all the operations and crimes were performed by his accomplices. And it is not a secret that prisoners can buy phones or even smartphones. Sometimes the guards even sell them to them.
I think that he simply gave secret orders when someone visits him, and the crime was just added to his crime list. This is the same as Al Capone thugs robs someone and everyone talks that "it was done by Al Capone".
August 23, 2021, 07:21:46 AM
In November 2018, the court ordered Farace to confiscate 4,000 bitcoins obtained from the sale of drugs. That bitcoin was worth $ 16,800 at the time. But today it is worth $ 187.2 million.
August 23, 2021, 07:18:28 AM
this is a bad aspect of technological development, technological progress makes people progress but then it comes with a corollary that criminals will start taking advantage of vulnerabilities and money laundering becomes legal money, anything can happen with good sides and bad sides and I'm not surprised about money launderers like this.
August 17, 2021, 01:16:21 AM
...If he had used credit cards or the banks, it wouldn't have been mentioned.
Don't act as if the article was written to attack crypto. This news would still come out but not on crypto related sites.Don't read what isn't between the lines. I didn't say the news wouldn't have been published but the credit card or bank accounts being used (if they had, instead of Bitcoin) wouldn't have been worth mentioning in the headlines.
No need to act, and no need to police the actors;)
August 16, 2021, 08:53:50 PM
This may also be part of the reason why other countries ban encryption. This payment method makes the government powerless. This is a feature of Bitcoin and a way for people to take advantage of it. The illegal transaction through Bitcoin reduces the positive impact of Bitcoin. It is not the first time that cryptocurrency is used by criminals to launder money. It is not surprising. I am just curious that a drug dealer who was in prison three years ago can continue to launder money during his 57-month sentence. It makes me curious how smart he is.
August 16, 2021, 01:39:36 PM
LOL.. it looks like the dark market admins are always one step ahead of the FBI guys. Silk Road went down in 2014, and the FBI seized a considerable amount of the coins escrowed there. But now they are saying that they don't control 75% of those coins. And now Ross Ulbricht also doesn't have a reason to help them, since he was handed down a very unfair prison sentence. The FBI may arrest one or two dark web masterminds every now and then. But as long as the demand exists, new ones will appear in the horizon.
August 16, 2021, 08:57:40 AM
It is so sad to see many people still relates bitcoin with crimes. There are only some people who did that but the whole cryptocurrency community get the bad impact too, it's make governments hard to accept bitcoin. I hope the number of criminal activity which use bitcoin will decrease in the future. I think using bitcoin for crime is not mean that it can stop law enforcement to do their job.
August 16, 2021, 06:56:17 AM
I am guessing neither he or his dad ever watched one of those TV shows where they follow the lives of people in prisons.
You now the ones where they show where your phone calls are monitored and recorded, your mail is read, your computer use (if any is granted) is monitored, etc.
Without getting into the drug laws are good / bad thing, if you are in prison stop breaking the law for a bit.
This really sounds like pure greed without planning.
I hate to say it, but it all goes back to "Look how they got Capone" not on the bootlegging, not on the murders, but on the taxes and financial crimes. Due your time, get out, run the money through some banks, pay your taxes and keep a low profile. Hate to say it, but in the end most* criminals that get caught are lazy and greedy. The ones that run what look like legitimate businesses, do their books 'properly', pay their taxes and don't go nuts with spending are the ones we never hear about because they never get caught.
*Yes there are many exceptions, but for the most part you read about them long after they have gotten away with it.
-Dave
You now the ones where they show where your phone calls are monitored and recorded, your mail is read, your computer use (if any is granted) is monitored, etc.
Without getting into the drug laws are good / bad thing, if you are in prison stop breaking the law for a bit.
This really sounds like pure greed without planning.
I hate to say it, but it all goes back to "Look how they got Capone" not on the bootlegging, not on the murders, but on the taxes and financial crimes. Due your time, get out, run the money through some banks, pay your taxes and keep a low profile. Hate to say it, but in the end most* criminals that get caught are lazy and greedy. The ones that run what look like legitimate businesses, do their books 'properly', pay their taxes and don't go nuts with spending are the ones we never hear about because they never get caught.
*Yes there are many exceptions, but for the most part you read about them long after they have gotten away with it.
-Dave
August 16, 2021, 04:40:33 AM
If there is no Bitcoin, can they stop them from doing these criminal things?
Bitcoin is just a means, not the cause of crime.
It will be much harder for both if say the laundering medium used is fiat. It's harder for the law enforcement since fiat isn't traceable unless a big amount of money suddenly enters into the account of someone that doesn't have any kind of that bank activity, and it's hard for the launderers since you can't easily inject the money in a business or someone's bank account, it needs to look normal and at the same time efficient. It's a good thing that drug dealers and launderers use bitcoin because it's much easy for the cyber police to track them down via the public ledger, if it was XMR or other privacy coins, it's.going to be a win for the launderers. Bitcoin is just a means, not the cause of crime.
August 16, 2021, 12:45:04 AM
...If he had used credit cards or the banks, it wouldn't have been mentioned.
Don't act as if the article was written to attack crypto. This news would still come out but not on crypto related sites.I wonder how he tried to wash this money.
There are many establishments out there that are not legally operating even if they were registered in the US. There are also many people who would be willing to use their accounts as dummy or sell their personal information not knowing how it will be used.Jump to: