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US authorities on Tuesday arrested Roman Sterlingov in Los Angeles, according to court records, and charged him with laundering more than 1.2 million bitcoins—worth $336 million at the times of the payments—over the 10 years that he allegedly ran Bitcoin Fog. According to the IRS criminal investigations division, Sterlingov, a citizen of Russia and Sweden, allowed users to blend their transactions with those of others to prevent anyone examining the Bitcoin blockchain from tracing any individual's payments...............................
 

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the "d" from ban[d]
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US authorities on Tuesday arrested Roman Sterlingov in Los Angeles, according to court records, and charged him with laundering more than 1.2 million bitcoins—worth $336 million at the times of the payments—over the 10 years that he allegedly ran Bitcoin Fog. According to the IRS criminal investigations division, Sterlingov, a citizen of Russia and Sweden, allowed users to blend their transactions with those of others to prevent anyone examining the Bitcoin blockchain from tracing any individual's payments...............................
I knew it was coming. This will only hurt the honest man. Like drugs the laws don't change much. They keep honest people away from them and this will happen to crypto for a while. Some form of electronic currency exchange is only going to get bigger. I like cash but that has not one thing to do with what will happen. I know that much for sure.
 

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I mean... cash is the easiest to launder and the preferred medium of exchange for criminals, but yeah, lets pretend that's not the case and be surprised when people use a public ledger that's cake for the FBI/CIA/IRS to track and difficult to hide illicit activities with. :D
 

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D. Gibbons is a bad man
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I mean... cash is the easiest to launder and the preferred medium of exchange for criminals, but yeah, lets pretend that's not the case and be surprised when people use a public ledger that's cake for the FBI/CIA/IRS to track and difficult to hide illicit activities with. :D
The scammers and fraudsters were early adopters of Bitcoin mostly due to weak informal networks, but I haven’t really bought into Terror / Narco Bitcoin narrative being touted by LE in the US. Cash and fungible goods are still king with the crooks in the Americas.
 

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The scammers and fraudsters were early adopters of Bitcoin mostly due to weak informal networks, but I haven’t really bought into Terror / Narco Bitcoin narrative being touted by LE in the US. Cash and fungible goods are still king with the crooks in the Americas.
Early on sure, now days it's way more difficult because the Feds have caught up and are monitoring anything suspicious on a large scale. Cash is king for crooks and will be until it's banned.
 

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Early on sure, now days it's way more difficult because the Feds have caught up and are monitoring anything suspicious on a large scale. Cash is king for crooks and will be until it's banned.
IDK, look at all the ransomeware attacks paid in Bitcoin. While this guy might have broken the law trying to be the leader in criminal financial technology, all you need is an offshore financial privacy haven combined with a reputable Bitcoin exchange ( yes, that is something of an contradiction.). People get caught transporting cash out of the country. You can send $100k from a burner phone using free WiFi.

APTs in Russia and China enjoy government protection. Common criminals ( cyber, transnational, or the lawyer who committed insurance fraud) want first world dependability in their financial transactions.
 
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