Earlier quoted context omitted.
except that person(s) you gave and received the cash from know who you are.
only if they're still alive
Or if they brought their phone with them
The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
91–100 of 243 posts
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#92Earlier quoted context omitted.
So what? It's still decentralized and waits ten minutes waits ten minutes waits ten minutes waits ten minutes waits ten minutes waits ten minutes secure.
Can you be specific on what are you alluding to?
I think he's talking about doing the laundry or something to clean his money. he puts in on the quick wash cycle multiple times?
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#93Earlier quoted context omitted.
> but possible. You go from Monero to cash, wire transfer, or gift cards through a variety of unlicensed conversion services that advertise themselves all over the Internet. Those are probably run by the FBI. It seems like a no brained for the government to try to run such services given the wealth of information they would provide.
Having unexplained assets is not a crime and won't be at least in the US because of the constitution, worst case they could be subject to civil forfeiture. Assuming you did everything else right (full disk encryption, Tor on public wifi/LTE router that you alternate routinely, not using Google, etc) the anonymity of Monero means the government would have a very difficult time tying whatever you bought with the Monero…
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Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#94Earlier quoted context omitted.
Plea hearing is fun reading: https://storage.courtlistener.com/recap/gov.uscourts.nysd.58... > So, Mr. Zhong, the statute of limitations for the crime you're charged with in the information is five years. Accordingly, you could argue that the time to prosecute you for this crime has passed, and that the crime is now time barred; you can no longer be prosecuted. Have you discussed this with Mr. Bachner? > THE DEFENDAN…
> THE COURT: All right. I find that Mr. Zhong has knowingly and voluntarily waived both venue as well as any argument here that the crime charged in the information is time barred. How does this even work? So can the defendant "knowingly and voluntarily" give up their right to defend via Constitution?
It's part of a plea agreement. In a plea agreement the defendant gives up certain rights in exchange for other sentencing considerations.
They were worried they'd get a worse sentence at trial, so they plead to get a better deal. They didn't just give up their rights...
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#95Earlier quoted context omitted.
But used as intended (not via a KYC exchange) it is pseudonymous, right?
Only if you and everyone you ever deal with have perfect security. As soon as one person’s identity is leaked, that opens the possibility of a real-world ID being linked to a wallet. This story from about a year ago also showed how that worked with investigators tracing it link by link: https://www.wired.com/story/tracers-in-the-dark-welcome-to-v...
"Leaked" also includes cashing in or out of Bitcoin.
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#96Earlier quoted context omitted.
But AFAIK, you can launder cryptos, right? [0] [0] https://en.wikipedia.org/wiki/Cryptocurrency_tumbler#
You can, but this is the kind of thing which is very easy to get wrong in ways which are significant legal risks on their own. For example, if you were some random cryptobro buying personal quantities of drugs in 2015 there’s some risk but the FBI probably isn’t going to spend time on something that small. If you do anything which reveals funds going to or from a tumbler, however, the risk isn’t just KYC but also que…
The topic is "laundering BTC into dollars".
You're referring to the risk of getting chased down for the "bad deeds" of others after funds are co-mingled. You're not explaining that it's prohibitively risky or not possible.
Further, I'm only aware of tumbling blacklisting [0], where the exchange gets blacklisted for co-mingling known dirty funds. AFAIK, there are still sizable tumbling vectors.
[0] https://www.cnbc.com/2022/08/08/crypto-mixing-service-tornad...
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#97Earlier quoted context omitted.
But used as intended (not via a KYC exchange) it is pseudonymous, right?
Only if you and everyone you ever deal with have perfect security. As soon as one person’s identity is leaked, that opens the possibility of a real-world ID being linked to a wallet. This story from about a year ago also showed how that worked with investigators tracing it link by link: https://www.wired.com/story/tracers-in-the-dark-welcome-to-v...
Future proof security. I think that people discount that aspect of it. If your identity is cracked at any point in the future, perhaps using methods yet to be invented, all your transactions will still be there on the blockchain. I once heard someone refer to the blockchain as prosecution futures, and that is about right.
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#98Earlier quoted context omitted.
But used as intended (not via a KYC exchange) it is pseudonymous, right?
How is that helpful? Get Bitcoin from crime Wash into monero? Pray the tumbler is legit? Wash back into Bitcoin Now what? Bitcoins from tumblers are suspect everywhere with kyc requirements. Sell off books to a Russian oligarch or North Korea I guess?
[dead]
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#99Earlier quoted context omitted.
How is that helpful? Get Bitcoin from crime Wash into monero? Pray the tumbler is legit? Wash back into Bitcoin Now what? Bitcoins from tumblers are suspect everywhere with kyc requirements. Sell off books to a Russian oligarch or North Korea I guess?
Going back to Bitcoin is unnecessary but possible. You go from Monero to cash, wire transfer, or gift cards through a variety of unlicensed conversion services that advertise themselves all over the Internet.
> You go from Monero to cash
Then you end up like the guy asking for advice on how to sue his banks for freezing the accounts that he'd been using to run his Monero to UKP gateway.
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#100Earlier quoted context omitted.
Having unexplained assets is not a crime and won't be at least in the US because of the constitution, worst case they could be subject to civil forfeiture. Assuming you did everything else right (full disk encryption, Tor on public wifi/LTE router that you alternate routinely, not using Google, etc) the anonymity of Monero means the government would have a very difficult time tying whatever you bought with the Monero…
Parallel construction: if you do enough crime-adjacent things, the likelihood that you are also engaged in crime makes you interesting to law enforcement.
What is crime adjacent that isn't criminal activity?