Misuse | Bitcointalksearch.org

kotajikikox

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Quote from: robertcarlyle on November 14, 2024, 09:44:16 PM

If hackers use only one bitcoin valued at 9500 usd vs one valued at almost 90k, would they be able to launder even more money at 90k usd vs only 9500 usd? Which amount would allow them to launder even more of their loot assuming an online bank heist?

If there is a price difference, there would be a significant difference in the size of each transaction. If the price is higher then it would take them lower sizes and numbers of transaction to get the same amount of money compared to if the price was just at $9500. However we all know that big transactions often get notice in the blockchain either just by crypto enthusiasts or exchanges. So there is a higher chance of alerting the authorities if you launder your money through big chunks. You notice a lot of money stolen usually gets separated and is taken out in smaller groups?

Anyway, why the curiosity? You are not planning for something, aren't you? Grin

Natalim

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BTC to the MOON in 2019

Quote from: pooya87 on November 14, 2024, 11:55:14 PM

Laundering money is not so much about the amount or the money form (bitcoin or fiat), it is mostly about the technique the criminals use. Which comes down to where they are going to inject their "dirty" money into to get "clean" money out.

For example it could be a token! a completely useless thing is created, then the dirty money goes into it buying that garbage at for example a million dollar a piece and the other side is getting something that looks clean.
Haven't you ever wondered why some shittokens sell for such high values that make no sense?

Even if there’s no suspicious activity, we still need to remember that transactions are reported to the money laundering agency. In the US, for example, there’s a threshold-- any withdrawals or deposits exceeding $10,000 (in total for a single day) must be reported. This is mandatory for all financial institutions, not just banks.

https://www.fincen.gov/resources/statutes-and-regulations/bank-secrecy-act

Quote

the regulations implementing the BSA require financial institutions to, among other things, keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.

So, if they’re smart, they’d avoid routing the money through traditional financial institutions since it’s easily traceable.

pooya87

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Laundering money is not so much about the amount or the money form (bitcoin or fiat), it is mostly about the technique the criminals use. Which comes down to where they are going to inject their "dirty" money into to get "clean" money out.

For example it could be a token! a completely useless thing is created, then the dirty money goes into it buying that garbage at for example a million dollar a piece and the other side is getting something that looks clean.
Haven't you ever wondered why some shittokens sell for such high values that make no sense?

Apocollapse

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Quote from: Sanitough on November 14, 2024, 10:02:46 PM

Smaller amounts of Bitcoin are easier to launder because they’re less noticeable in the blockchain.

Yeah you're correct.

Sometime I don't understand why the government/police only work when some was murdered or a theft/hacker stole a lot of money. When a theft snatch someone phone or steal someone wallet, they will say it's normal here, make sure to protect yourself bla bla instead of catching the theft.

It should be a part of their job instead of just working on big case.

Sanitough

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Quote from: robertcarlyle on November 14, 2024, 09:44:16 PM

If hackers use only one bitcoin valued at 9500 usd vs one valued at almost 90k, would they be able to launder even more money at 90k usd vs only 9500 usd? Which amount would allow them to launder even more of their loot assuming an online bank heist?

Smaller amounts of Bitcoin are easier to launder because they’re less noticeable in the blockchain. However, if it's from a large online bank heist, authorities will likely investigate and eventually trace it, especially since the blockchain is transparent. If the launderers are smart, they might divide the total amount and funnel it through different platforms, including casinos, using multiple users to obscure the trail. This is especially effective with platforms that don’t require KYC verification or are centralized.

That said, even though it's more difficult, the government has the resources to track these funds. As reports suggest, not all launderers are caught right away, and it can take time for investigations. So, while it’s possible for them to slip through, it’s also very possible they’ll eventually get caught.

robertcarlyle

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If hackers use only one bitcoin valued at 9500 usd vs one valued at almost 90k, would they be able to launder even more money at 90k usd vs only 9500 usd? Which amount would allow them to launder even more of their loot assuming an online bank heist?

Topic: Misuse (Read 81 times)