'Stablecoins' Enabled $40B in Crypto Crime Since 2022

https://www.wired.com/story/stablecoin-sanctions-violations-crypto-crime/

by Brajeshwar • 3 years ago

26 10 3 years ago

wired.com

samstave• 3 years ago

We need "The wallet papers"

Lets take a singular target, the W brothers of FB fame.

It was touted that they bout up a % of bitcoin... and profited handsomly.

Is it anyone's business where they directed these funds? What have they done with it?

So - it was that bitcoin was opaque to imperial entanglements, to make more personal freedom from over-arching systems - yet we have seen how clever finance is to protect finance (which you dont understand)

We have illustrated this time and time again;

ART was the original bitcoin money laundering system.

An NFT - that can be valued only because there was a singular producer capable of making that piece, thus - if I value our interaction of a binary transaction of 1 (i have thing) and 0 (you dont have thing) - then I transfer my thing, to you who can physically hold it, then you have 1 and I have 0.

Super simple.

So the W twins, basically did this, correct?

BobaFloutist• 3 years ago

Sounds like they're working as intended.

birracerveza• 3 years ago

This but unironically

g42gregory• 3 years ago

Everything is better analyzed in comparison. How much illegal activity has US Dollar enabled? How about Euro, Japanese Yen? I would like to see the comparative analysis first.

velcrovan2• 3 years ago

The point is that cryptocurrency enables an entire category of crime that was for all practical purposes infeasible otherwise. There is no way for ransomware actors to demand payment through traditional financial institutions without getting caught very quickly.

We can easily compare the amount of ransomware activity enabled by crypto (all of it) with the amount of the same activity enabled by the US dollar (none of it).

sumeruchat• 3 years ago

Lmao you know that cash still exists rite?

spacemanspiff01• 3 years ago

This is a interesting article that goes into tether.

https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/

sahila• 3 years ago

https://archive.is/8P0rb

'Stablecoins' Enabled $40B in Crypto Crime Since 2022

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