logoalt Hacker News

Sol- • today at 9:49 AM • 1 reply • view on HN

How do they launder the coins generally? Given you traceable (most) cryptocurrency is by design, it seems you could sanction anyone who transacts with them? I understand it's likely not that simple, though.


Replies

sandworm101 • today at 10:14 AM

They deposit the coins into organisations that mix coins from various customers. Its just like a bank. You deposit a fake/stollen 100$ bill one day and, if they accept it, you can withdraw a totally different 100$ bill from an ATM the next day.

➕ show 2 replies