Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Yamane_Keto on August 09, 2024, 02:25:33 PM
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Detectives from the Garda National Cyber Crime Bureau (GNCCB) in Ireland seized cryptocurrency worth approximately €6.5 million ($7.1 million) during a raid in North County Dublin on Monday. The operation, supported by the Armed Support Unit, was part of a major investigation into money laundering and the sale of illegal goods on darknet markets. In addition to the substantial cryptocurrency haul, the authorities also confiscated luxury watches valued at over €120,000 and two high-powered vehicles worth around €220,000.
https://news.bitcoin.com/irish-authorities-seize-7-1m-in-cryptocurrency-amid-darknet-money-laundering-bust/
It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
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It's great that they were able to Prevent illegal activities and the use of cryptocurrency for money laundering. What I am worried about now is how they are going to liquidate that, or is it in their plan to do it?
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Irish politicians/regulators calls for more restrictions on cryto use in 3,21... ;D The seized crypto are likely to be sold after the case is settled but unlike what the German Government disposed, this one isn't that significant to influence the market.
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It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
Bitcoin and Monero:
https://www.garda.ie/en/about-us/our-departments/office-of-corporate-communications/press-releases/2024/august/gnccb-investigation-into-darknet-markets-and-money-laundering-involving-cryptocurrencies-north-co-dublin-5th-august-2024.html
It's great that they were able to Prevent illegal activities and the use of cryptocurrency for money laundering. What I am worried about now is how they are going to liquidate that, or is it in their plan to do it?
Why are you worried about it?
It makes really no difference, if those guys had wanted to buy a luxury house just as they did with those two sportcars they would have sold the coins to do so, it's a free market, we can't put restrictions on the amount you're able to sell or it would be a system worse than banks.
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Detectives from the Garda National Cyber Crime Bureau (GNCCB) in Ireland seized cryptocurrency worth approximately €6.5 million ($7.1 million) during a raid in North County Dublin on Monday. The operation, supported by the Armed Support Unit, was part of a major investigation into money laundering and the sale of illegal goods on darknet markets. In addition to the substantial cryptocurrency haul, the authorities also confiscated luxury watches valued at over €120,000 and two high-powered vehicles worth around €220,000.
https://news.bitcoin.com/irish-authorities-seize-7-1m-in-cryptocurrency-amid-darknet-money-laundering-bust/
It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
Its quite a while now that we have been hearing about some of the seized crypto asset in which there were no cognate account on them, but later all we hear is that they have been auctioned, now that this was seized, we only know the amount seized but we are unclear of the coins involved, i hope many of us were learning their own lessons from the use of centralized exchanges for keeping our financial digital assets, censorship and other regulations wont let them be over there.
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Another story about how some "smart guys" were smart and used cryptocurrencies to stay under the radar, they just made a standard stupid move and started buying luxury cars and watches while maybe at the same time they were unemployed and receiving financial assistance from of the state ::)
They are probably still wondering how it is possible that they were discovered, and they were using "anonymous" cryptocurrencies. They will have time to think about it in prison.
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Another story about how some "smart guys" were smart and used cryptocurrencies to stay under the radar, they just made a standard stupid move and started buying luxury cars and watches while maybe at the same time they were unemployed and receiving financial assistance from of the state ::)
They are probably still wondering how it is possible that they were discovered, and they were using "anonymous" cryptocurrencies. They will have time to think about it in prison.
Thats how police usually find out who pulled out the last heist, they check out who are those guys in town spending like saylors. Old police work does the job.
Maybe they are trying to follow some investment advice and diversification such as buying expensive watches and luxury cars. Probably the geeks just too excited to get girls using their cars.
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It's the same as always with this type of news, what is the relevance here with cryptocurrencies, they always want to give relevance to the dark side, as if now any crime is associated with cryptocurrencies as a "participatory" element, so, it does not occur in a disproportionate relationship with the USD, if we compare them, when this same type of news happens and involves Fiat, opposite case does not exist, "100 million dollars," and! well, well, the value of "x" millions of "cryptocurrencies" is estimated.
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Hopefully, they will keep the coins or find a way to return them to their owners instead of just selling them. I wonder where these seized coins end up. If anyone knows, please share.
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Hopefully, they will keep the coins or find a way to return them to their owners instead of just selling them. I wonder where these seized coins end up. If anyone knows, please share.
I'm pretty sure you know that crypto doesn't have any name right? So how can the authorities return it even if they wanted to?
In any case it was good that the Irish authorities was able to stop the 3 and seized those cryptocurrencies and it's more of the government trying to prevent it's uses for money laundering. So good job for the authorities to catch this culprit and give them a lesson.
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Money laundering is illegal everywhere so I am not surprised by this action.
You can't just do something illegal such as siphoning money from somewhere and then expect to be able to spend the proceeds from it however you like. It needs to be returned to its owners, from who these criminals have stolen from and then tried to launder for themselves.
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It needs to be returned to its owners, from who these criminals have stolen from and then tried to launder for themselves.
There are no victims in this case, all the money is from selling illegal stuff on darknet, the money laundering is for them trying to erase the trace from where those came from, it's the usual, a few guys telling mostly drugs for crypto then trying to make that money seem legit while exchanging it for fiat and buying stuff.
The state will get it all, including what they will sale those cars and jewelry for.
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Detectives from the Garda National Cyber Crime Bureau (GNCCB) in Ireland seized cryptocurrency worth approximately €6.5 million ($7.1 million) during a raid in North County Dublin on Monday. The operation, supported by the Armed Support Unit, was part of a major investigation into money laundering and the sale of illegal goods on darknet markets. In addition to the substantial cryptocurrency haul, the authorities also confiscated luxury watches valued at over €120,000 and two high-powered vehicles worth around €220,000.
https://news.bitcoin.com/irish-authorities-seize-7-1m-in-cryptocurrency-amid-darknet-money-laundering-bust/
It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
- Probably the cryptocurrency that is not mentioned is a crypto, for sure, that is not really known or included in the top altcoins. Because of the usual common news scams, crypto is not included in the top listing of altcoins.
So that means that those involved people really are MHA experts and scammers. So they were unlucky with the authority, so that was the case. That's why it is important that we have a great knowledge of cryptocurrency.
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Another story about how some "smart guys" were smart and used cryptocurrencies to stay under the radar, they just made a standard stupid move and started buying luxury cars and watches while maybe at the same time they were unemployed and receiving financial assistance from of the state ::)
They are probably still wondering how it is possible that they were discovered, and they were using "anonymous" cryptocurrencies. They will have time to think about it in prison.
Thats how police usually find out who pulled out the last heist, they check out who are those guys in town spending like saylors. Old police work does the job.
Maybe they are trying to follow some investment advice and diversification such as buying expensive watches and luxury cars. Probably the geeks just too excited to get girls using their cars.
The police do not necessarily have to deal with such matters, perhaps one of the neighbors reported them because he saw that their lifestyle did not match their income - and then the tax office forwarded the matter to the police. Maybe they were discovered by some undercover government agent, because the darknet is full of them considering the amount of crime that is present there.
There are many possibilities, but the fact is that such "geniuses" do not manage to stay free for long and enjoy their profits.
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Kudos for the authorities to detect and sieze those crypto used in illegal activities like the most common money laundering. Though it will not have a huge impact on us or the market but restrictions on the use of cryptocurrency might also be seen alarming here especially if the government has a lot of crypto critics rather than adopters. This is the only concern I am worried about especially here in my country as cryptocurrency was used in love scams, kidnap for ransom and pther illegal activities that might caught the governments attention to implement a much more tight regulations.
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Bitcoin and Monero:
https://www.garda.ie/en/about-us/our-departments/office-of-corporate-communications/press-releases/2024/august/gnccb-investigation-into-darknet-markets-and-money-laundering-involving-cryptocurrencies-north-co-dublin-5th-august-2024.html
In a similar case, when the government seized Monero balance, it was resold in the market despite claims that it was the currency used by those who wanted to carry out illegal activities.
https://decrypt.co/239481/uk-sells-monero-tokens-seized-convicted-drug-dealer
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Detectives from the Garda National Cyber Crime Bureau (GNCCB) in Ireland seized cryptocurrency worth approximately €6.5 million ($7.1 million) during a raid in North County Dublin on Monday. The operation, supported by the Armed Support Unit, was part of a major investigation into money laundering and the sale of illegal goods on darknet markets. In addition to the substantial cryptocurrency haul, the authorities also confiscated luxury watches valued at over €120,000 and two high-powered vehicles worth around €220,000.
https://news.bitcoin.com/irish-authorities-seize-7-1m-in-cryptocurrency-amid-darknet-money-laundering-bust/
It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
I'm waiting for the day same government are going to walk shame people that used terrorism and some bad business to launder money they are slamming on crypto. Money laundering is a big threat all over the world, they shouldn't make it look like it's only in crypto world that it happen. Even the government officials are guilty of money laundering in fiats most especially.
I think we also need some representatives that can help crypto vendors fight for their money. It's not everytime the government see money and feel like stealing it and be using some lame excuses like money laundering they claimed everyday.
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They are probably still wondering how it is possible that they were discovered, and they were using "anonymous" cryptocurrencies. They will have time to think about it in prison.
We have a popular proverb here in my country that says "the thieves are not discovered when they steal, but they are discovered when the spoils are divided" This means that they may have disagreed on the distribution of the stolen goods or perhaps one of them informed on his companions to the police, no one knows.
The important thing is for everyone to know that no one can get away with his illegal act, even if it is an anonymous cryptocurrencies, he will be discovered sooner or later.
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Kudos for the authorities to detect and sieze those crypto used in illegal activities like the most common money laundering. Though it will not have a huge impact on us or the market but restrictions on the use of cryptocurrency might also be seen alarming here especially if the government has a lot of crypto critics rather than adopters. This is the only concern I am worried about especially here in my country as cryptocurrency was used in love scams, kidnap for ransom and pther illegal activities that might caught the governments attention to implement a much more tight regulations.
I want to also say the same thing because of the seize amount is high but I don't think this is not that much high amount which can make impact on the market. So we will see the market as the generally going on.
I want to also say the same thing because of the seize amount is high but I don't think this is not that much high amount which can make impact on the market. So we will see the market as the generally going on.
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In a similar case, when the government seized Monero balance, it was resold in the market despite claims that it was the currency used by those who wanted to carry out illegal activities.
https://decrypt.co/239481/uk-sells-monero-tokens-seized-convicted-drug-dealer
"They" have no problem seizing and selling any cryptocurrency, no matter how bad and dangerous it is in their opinion - they just "launder" it in a legal way and return it to the system so that some other "criminals" can use it. It looks quite hypocritical, but the law is written by those who, in the end, implement it - and we little people must respect those laws, or the full force of the state institutions will fall on us.
~snip~
The important thing is for everyone to know that no one can get away with his illegal act, even if it is an anonymous cryptocurrencies, he will be discovered sooner or later.
I wouldn't agree with that, the real question is how many criminals get away compared to the ones they catch? This of course depends from country to country and to the capabilities and corruption of the system. There are always criminals who are extremely intelligent and not too greedy and know how to stay under the radar - such people will certainly not buy an expensive car or watch where everyone knows them, but will be smart and patient until they decide to spend their earnings somewhere far away.
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This is the fault of the cryptocurrency owner, if it is true what the government of the country suspects that they are laundering money in that way. Then the person concerned can be punished with a criminal case, this is what many countries fear about cryptocurrency.
I hope this does not happen in my country, and let's use this cryptocurrency properly and correctly according to its function. Stop committing crimes, which of course can harm ourselves and others.
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Detectives from the Garda National Cyber Crime Bureau (GNCCB) in Ireland seized cryptocurrency worth approximately €6.5 million ($7.1 million) during a raid in North County Dublin on Monday. The operation, supported by the Armed Support Unit, was part of a major investigation into money laundering and the sale of illegal goods on darknet markets. In addition to the substantial cryptocurrency haul, the authorities also confiscated luxury watches valued at over €120,000 and two high-powered vehicles worth around €220,000.
https://news.bitcoin.com/irish-authorities-seize-7-1m-in-cryptocurrency-amid-darknet-money-laundering-bust/
It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
Well well, thanks very much for sharing but this news really have nothing to do on this board as I personally do not see the value it adds or brings here..
A better board where you should have posted is the News related to Crypto (https://www.altcoinstalks.com/index.php?board=26.0) board, this board is mainly for discussions that being value to the users of crypto, and not a place to share such news.
Anyways, thats by the way, it's not surprising that some people are beginning to use crypto as a means of laundering money, and this calls for those who are in charge of this preventing stuffs like this to step up their game, cus as tech is becoming more advance, so it crime as well.
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~snip~
The important thing is for everyone to know that no one can get away with his illegal act, even if it is an anonymous cryptocurrencies, he will be discovered sooner or later.
I wouldn't agree with that, the real question is how many criminals get away compared to the ones they catch? This of course depends from country to country and to the capabilities and corruption of the system. There are always criminals who are extremely intelligent and not too greedy and know how to stay under the radar - such people will certainly not buy an expensive car or watch where everyone knows them, but will be smart and patient until they decide to spend their earnings somewhere far away.
I agree with you that if the system is corrupt, many criminals will get away with it through bribes or strong relationships with corrupt officials, but I have a feeling that the criminal will get his punishment in the end.
Certainly not all of them, but at least I think the majority of them, I heard many stories where crimes were discovered after twenty or thirty years and the criminal got his punishment, so this is just a personal feeling and may not be true, but it is just a belief or conviction.
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They are probably still wondering how it is possible that they were discovered, and they were using "anonymous" cryptocurrencies. They will have time to think about it in prison.
That's the power of social engineering. I believe some of those detectives used social engineering techniques to find those criminals because it won't be easy to discover about such thing as those criminals were using anonymous coins.
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They are probably still wondering how it is possible that they were discovered, and they were using "anonymous" cryptocurrencies. They will have time to think about it in prison.
That's the power of social engineering. I believe some of those detectives used social engineering techniques to find those criminals because it won't be easy to discover about such thing as those criminals were using anonymous coins.
BTC is not anonymous, except for those who want to believe that it is true, and the fact that it may be impossible for us mere mortals to track the transactions of so-called "private coins", for those who have unlimited resources and tools, nothing is impossible. If you do some really bad things, there is no coin or tool that will protect you when you are online.
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They are probably still wondering how it is possible that they were discovered, and they were using "anonymous" cryptocurrencies. They will have time to think about it in prison.
That's the power of social engineering. I believe some of those detectives used social engineering techniques to find those criminals because it won't be easy to discover about such thing as those criminals were using anonymous coins.
They could be under the radar already, and so the authorities just waited for the right time to arrest them and most likely this criminals believed that they are anonymous and untraceable and so they continue to do with without being careful.
And when we thought that we are all anonymous, that should not be the case. We have seen lots of blockchain analytics already trying to de-obfuscate every criminals trying to hide under the guise of cryptocurrencies.
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Detectives from the Garda National Cyber Crime Bureau (GNCCB) in Ireland seized cryptocurrency worth approximately €6.5 million ($7.1 million) during a raid in North County Dublin on Monday. The operation, supported by the Armed Support Unit, was part of a major investigation into money laundering and the sale of illegal goods on darknet markets. In addition to the substantial cryptocurrency haul, the authorities also confiscated luxury watches valued at over €120,000 and two high-powered vehicles worth around €220,000.
https://news.bitcoin.com/irish-authorities-seize-7-1m-in-cryptocurrency-amid-darknet-money-laundering-bust/
It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
I think it does not matter which cryptocurrency was used because authorities will target crypto as a whole but it's a good thing that they get caught and now the funds are seized by the governments and they will sell them whenever they want, I don't think the funds would be in BTC form only and if it's not then maybe authorities wait for the alt season to dump the $7.1 or whatever amount is in alts form.
I hope these Money launderers will avoid such acts especially using crypto as a source or keeping funds in crypto form, events like these put a bad image of crypto out their in front of people who are still traditional and hesitate to adopt it.
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BTC is not anonymous, except for those who want to believe that it is true, and the fact that it may be impossible for us mere mortals to track the transactions of so-called "private coins", for those who have unlimited resources and tools, nothing is impossible.
Yes, BTC isn't anonymous and I'm pretty sure most of those criminals also know that. If I'm not wrong then most of the illegal activities are funded by altcoins like Monero that offer higher level of privacy than Bitcoin. But, I agree that no matter how good a criminal is he/she will always get caught.
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Yes, BTC isn't anonymous and I'm pretty sure most of those criminals also know that. If I'm not wrong then most of the illegal activities are funded by altcoins like Monero that offer higher level of privacy than Bitcoin. But, I agree that no matter how good a criminal is he/she will always get caught.
Bitcoin is anonymous until you publish the public address of yours and if you use the bitcoin mixers then it's quite impossible to find or tracing.
Now if the subject is Monero then I want to say it has been already re known by the privacy coin but bitcoin is not the privacy coin. Privacy coins are made to be untracble or private. And the protocol they are using those are insure the untraceable.
But even I want to say that the volume will be still up in bitcoin because of the trust you know the trust in bitcoin can't be compare with the altcoins.
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With regards to this news, I remember that Ireland also arrested a drug dealer, with €55m (£46m) in bitcoin and print the mnemonic code in A4 piece of paper and stash it in the aluminium cap of a fishing rod case kept at his rented home in Farnaught.
However, when he was arrested by the police, the landlord of the house that he rented cleared everything up including that fishing rod that contains those millions.
The ultimate loser may be the Irish state. The Criminal Assets Bureau thought it had hit the jackpot when it confiscated the accounts. “The mnemonic key for the bitcoin is unable to be accessed at this stage,” said a gardaí spokesman. Authorities hope they may some day gain access.
https://www.theguardian.com/world/2020/feb/21/irish-drug-dealer-clifton-collins-l46m-bitcoin-codes-hid-fishing-rod-case
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Bitcoin is anonymous until you publish the public address of yours and if you use the bitcoin mixers then it's quite impossible to find or tracing.
~snip~
You probably know that the blockchain is a public ledger where everyone can see every transaction from the Genesis block onwards, and the fact that your public address does not have your first and last name does not mean that you enjoy the kind of privacy you imagine.
As for the mixers, they provide relative anonymity in relation to how advanced the mixing itself is, but various companies that analyze the blockchain have very advanced tools with which they can get very accurate information about a transaction even if it passed through the mixer. However, anyone who mixes their coins with the intention of a little more privacy should not be too worried, the authorities will not spend resources on such things.
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I'm waiting for the day same government are going to walk shame people that used terrorism and some bad business to launder money they are slamming on crypto. Money laundering is a big threat all over the world, they shouldn't make it look like it's only in crypto world that it happen. Even the government officials are guilty of money laundering in fiats most especially.
I think we also need some representatives who can help crypto vendors fight for their money. It's not everytime the government see money and feel like stealing it and be using some lame excuses like money laundering they claimed everyday.
I agree with all of your statements and to be honest I never see such cases from your point of view that government can be faking the reason to steal people's money and they can easily do that and I never saw their procedure to call someone's crypto as illegal money and used in money laundering.
There is a full chance that they were really doing money laundering and get caught. Government will go after those companies which are not registered with governments and respective authorities and not every company can register with government like mixers.
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You probably know that the blockchain is a public ledger where everyone can see every transaction from the Genesis block onwards, and the fact that your public address does not have your first and last name does not mean that you enjoy the kind of privacy you imagine.
As for the mixers, they provide relative anonymity in relation to how advanced the mixing itself is, but various companies that analyze the blockchain have very advanced tools with which they can get very accurate information about a transaction even if it passed through the mixer. However, anyone who mixes their coins with the intention of a little more privacy should not be too worried, the authorities will not spend resources on such things.
The last sentence you said, my opinion is totally said on this. I think that's the point.
In internet may nothing is untraceable but for tracing not every country have the enough sources or enough time for that. And when it's come to use mixer for the privacy to protect your self and your fund from the digital robbers then I can say it will kinda impossible for them to trace.
But when you do illegal things, did scam and have the black money then I think you have be worried about that because in that cases inquiry will be done by the government and most of them have the resources or the can take assist of another countries resources.
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Detectives from the Garda National Cyber Crime Bureau (GNCCB) in Ireland seized cryptocurrency worth approximately €6.5 million ($7.1 million) during a raid in North County Dublin on Monday. The operation, supported by the Armed Support Unit, was part of a major investigation into money laundering and the sale of illegal goods on darknet markets. In addition to the substantial cryptocurrency haul, the authorities also confiscated luxury watches valued at over €120,000 and two high-powered vehicles worth around €220,000.
https://news.bitcoin.com/irish-authorities-seize-7-1m-in-cryptocurrency-amid-darknet-money-laundering-bust/
It was not mentioned what cryptocurrency was seized but it seems that they are involved in money laundering activities and cryptocurrencies are part of their plan.
Asset seizures are no longer news in the Crypto community. However, I think these measures will help to protect the name and image of the crypto industry from those perpetrating illicit acts through Crypto currency. Governments have in the past seized assets values much bigger than this but the truth is that have they been able to account for it after they had seized it.
We hear stories of these nature often times but the government should be up and doing enough to making sure they account for assets with such encounter.
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The last sentence you said, my opinion is totally said on this. I think that's the point.
In internet may nothing is untraceable but for tracing not every country have the enough sources or enough time for that. And when it's come to use mixer for the privacy to protect your self and your fund from the digital robbers then I can say it will kinda impossible for them to trace.
But when you do illegal things, did scam and have the black money then I think you have be worried about that because in that cases inquiry will be done by the government and most of them have the resources or the can take assist of another countries resources.
Hmmmm... that is right It is hard to hide things on internet but some countries don't have means or time to track everything. Using mixers to keep your identity and money safe from online threats is good idea. But if you do something illegal like scamming or hiding stolen money you should be worried about getting caught.
Governments will investigate and might even work with other countries to find you. If you use cryptocurrency for bad things you should know that you can still get in trouble even if you try to hide.
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The last sentence you said, my opinion is totally said on this. I think that's the point.
In internet may nothing is untraceable but for tracing not every country have the enough sources or enough time for that. And when it's come to use mixer for the privacy to protect your self and your fund from the digital robbers then I can say it will kinda impossible for them to trace.
But when you do illegal things, did scam and have the black money then I think you have be worried about that because in that cases inquiry will be done by the government and most of them have the resources or the can take assist of another countries resources.
Governments will investigate and might even work with other countries to find you. If you use cryptocurrency for bad things you should know that you can still get in trouble even if you try to hide.
When it comes to international crimes, the government always extend hands to her sister nation to working together when it happens that the target or suspect resides in that nation. I have read many online dailies where hackers were apprehended by security agencies and Interpol. Some stolen/hacked funds being recovered.
Using crypto for nefarious act is not guaranteed because it is an open database where everyone can see transaction hash on chain from sender to receiver. Not only that, trackers would definitely alert the transaction as programmed and that would call attention to that transaction possibly the faces behind such would be unmasked. This is even the more reasons why the government needs to adopt blockchain and crypto into their system.
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Bitcoin is anonymous until you publish the public address of yours and if you use the bitcoin mixers then it's quite impossible to find or tracing.
Yes, when someone uses mixers then it would be almost impossible to trace any relation of that user with the mixed coins. That's why those who make transactions with Bitcoin often use mixers to enhance the privacy part.
Monero is way more untraceable than even the mixed Bitcoins because no one in the world can find any trace of transactions that take place on Monero blockchain. Serious level criminals who want to hide all their traces often chose Monero instead of Bitcoin and so does the privacy lovers.
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The Rapidly increase in the misuse of cryptocurrencies,especially bitcoin, (although the crytocurrency wasn't identified) particularly in facilitating illegal activities and the trafficking of illegal goods on the darknet, is increasingly Alarming.
The individuals who have unfortunately implicated theirselves in this operation could have chosen to maintain discreet profiles but then they succumbed to ostentatious displays of wealth by acquiring conspicuously overly expensive and easily traceable luxury items. Many people fail to know and remember that these extravagant items, such as highend latest watches and vehicles, possess digital and physical traceability that can be easily tracked by advanced techniques employed by law enforcement.
It should serve as a warning and a very good exemple to anyone who might be enticed to exploit cryptocurrencies for criminal purposes because Law enforcement agencies are progressively sharpening their swords and also leveraging sophisticated technology to trace, track, and ultimately confiscate illicitly obtained digital assets.
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Hopefully, they will keep the coins or find a way to return them to their owners instead of just selling them. I wonder where these seized coins end up. If anyone knows, please share.
As far as I know, seized cryptos done by the government will end up in government coffers and in the right time they will sell them to the market so they can use the funds for their own programs. This is actually sad especially if the seized assets actually belong to someone else...morally they should return to the rightful owners but we know that it can be so difficult to know the owners are, in many cases. Now, just like what happened with the Germany weeks ago, once the government is able to save big amount of coins and sell them on the market it can be creating some red waves affecting us all as if we are cooked by our own oil. Anyway, this is the reality we are in right now so we have no choice but to deal with it.
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Yes, when someone uses mixers then it would be almost impossible to trace any relation of that user with the mixed coins. That's why those who make transactions with Bitcoin often use mixers to enhance the privacy part.
Monero is way more untraceable than even the mixed Bitcoins because no one in the world can find any trace of transactions that take place on Monero blockchain. Serious level criminals who want to hide all their traces often chose Monero instead of Bitcoin and so does the privacy lovers.
Yeap that is why I said that it's quite impossible to trace when a user use the mixer to enhance his/her privacy.
But I want to say again that on the internet it is also true that nothing is untraceable but it take huge resources and as well as the huge time. And in the case of resources not everyone have so we can say mixup make our privacy more enhance. Even if you do nothing wrong then you have to don't worry about the privacy when you use the mixer.
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Yes, when someone uses mixers then it would be almost impossible to trace any relation of that user with the mixed coins. That's why those who make transactions with Bitcoin often use mixers to enhance the privacy part.
Monero is way more untraceable than even the mixed Bitcoins because no one in the world can find any trace of transactions that take place on Monero blockchain. Serious level criminals who want to hide all their traces often chose Monero instead of Bitcoin and so does the privacy lovers.
Yeap that is why I said that it's quite impossible to trace when a user use the mixer to enhance his/her privacy.
But I want to say again that on the internet it is also true that nothing is untraceable but it take huge resources and as well as the huge time. And in the case of resources not everyone have so we can say mixup make our privacy more enhance. Even if you do nothing wrong then you have to don't worry about the privacy when you use the mixer.
It you are going to be trace by government or big entities, for sure they will have all the resources you track you down. We have seen it already, many individuals has been traced and some are put to jail even if they uses mixers.
And we also have seen big mixers as well in the past being shut down by government because of one single mistakes. That's why mixers might have evolved too and hopefully they are holding their bargain that there are no logs whatsoever so that it's really hard to crack and trace anyone if we uses them.
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Irish authorities recently seized $7.1 million in cryptocurrency. This step is taken as part of prevention of money laundering and other illegal activities through cryptocurrency. Authorities are reportedly investigating the source of the funds and the people involved. But I have not confirmed from the media.
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It you are going to be trace by government or big entities, for sure they will have all the resources you track you down. We have seen it already, many individuals has been traced and some are put to jail even if they uses mixers.
Yes, that's quite true, when governments or big entities want to trace someone then they do use some tactics that most of us aren't even aware of to trace that someone. It's not possible to hide ourselves when governments are against us but if someone hasn't done anything wrong then that person should not fear at all.
I remember that even Kevin Mitnick got traced even by doing his best to remain in privacy. That's why running from a government isn't possible if someone does a wrong thing. However, I still believe that those people who aren't doing anything wrong can enhance their privacy by using good mixers.