Author Topic: popular twitter accounts get hacked with cryptocurrency scams  (Read 1145 times)

the website I linked links to the wallets that each transaction sent bitcoin to. the wallets they sent it to have done nothing but send it to other wallets, which have sent it to other wallets
you could follow all the chains to their final (for now) destinations, but ultimately, it's unlikely that they're going to try to collect all of it in a single wallet anywhere. there's no reason to, as bitcoin wallets are entirely free to create
no i understand that, i'm familiar with the bitcoin protocol

what i'm saying is that it's totally possible to follow the trail of laundered bitcoins until they are exchanged to addresses owned by exchanges

this is because the bitcoin blockchain keeps a trail of every single address the coins go to. it's almost impossible to launder money on bitcoin (as opposed to monero where all transactions are obfuscated behind a zero knowledge proof).

what criminals normally do with bitcoin is they pass it through serveral hundred or million addresses to "cycle" the coins into "legitimate" addresses then cash them out on a mainstream site. even then, they have to come up with a way to explain to the IRS how they got that money assuming they withdraw on an exchange that pays taxes.

another way would be to buy prepaid credit cards or gift cards with the money and sell it to people legitimately, or even take out the money cash at bitcoin atms
« Last Edit: July 16, 2020, 09:57:51 PM by Aide33 »

you could probably find a way to filter the cash out over time so the irs doesn't see anything, i obv don't know much about this subject but it's not like the irs investigates every 20 dollar bill a guy picks up off the ground. if you could "drip-line" it, taking small amounts of cash here and there while continually cycling the rest, and using regular money laundering techniques to take out more faster, you'd probably seem pretty clean