tldr; A report by the Crypto Information Sharing and Analysis Center (CryptoISAC) reveals that criminals prefer cash over cryptocurrency for illicit activities. Despite crypto’s reputation for facilitating illegal transactions, the report highlights that traditional financial systems are more prone to money laundering. Only 0.34% of crypto transactions were flagged as illicit in 2023. The report calls for international collaboration and tailored regulations to address crypto’s unique challenges, emphasizing that cash remains more anonymous and harder to trace.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Successful_Bad1015 on
Here we go…the next move to get rid of cash…
VendettaKarma on
XMR for life
lorem_epsom_dollar on
Report opinion rejected. Crypto is king
LetsSeeWhatsGoinOn on
Who would have thought?!
FlatulateHealthilyOK on
DUH, only fools think that anything other than Monero is untraceable. Sure, go ahead and reroute those criminal earnings to as many addresses as you’d like.. use multiple different coins and swaps as well… Etherscan sees all. If there is a will and enough institutional backing, there’s a way they will absolutely find the money trail as well as the identity of the owner(s) of the wallet address(es).
It worked for a while but then federal law enforcement started to get hip and wise to this crypto gismo computer junk.
Beyond getting wise and learning the blockchain… White hat hacking for federal institutions has become a factor that opens the door for other potential operational security measures for using Crypto to launder ill-gotten gains. There is no such thing as total privacy no matter how many steps you take to prevent your metadata from being openly transparent. Regardless if you use a VPN. VPNs are the equivalent to a small cable bicycle lock, it’ll deter anyone without a simple handheld cable cutter… But think about how easy it is to access a simple cable cutter. That same principle applies to VPNs, it stops most “wannabe” hackers from easily accessing your IP. But with the metaphorical cable cutter, 15 secs and they have it.
9 Comments
tldr; A report by the Crypto Information Sharing and Analysis Center (CryptoISAC) reveals that criminals prefer cash over cryptocurrency for illicit activities. Despite crypto’s reputation for facilitating illegal transactions, the report highlights that traditional financial systems are more prone to money laundering. Only 0.34% of crypto transactions were flagged as illicit in 2023. The report calls for international collaboration and tailored regulations to address crypto’s unique challenges, emphasizing that cash remains more anonymous and harder to trace.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Here we go…the next move to get rid of cash…
XMR for life
Report opinion rejected. Crypto is king
Who would have thought?!
DUH, only fools think that anything other than Monero is untraceable. Sure, go ahead and reroute those criminal earnings to as many addresses as you’d like.. use multiple different coins and swaps as well… Etherscan sees all. If there is a will and enough institutional backing, there’s a way they will absolutely find the money trail as well as the identity of the owner(s) of the wallet address(es).
It worked for a while but then federal law enforcement started to get hip and wise to this crypto gismo computer junk.
Beyond getting wise and learning the blockchain… White hat hacking for federal institutions has become a factor that opens the door for other potential operational security measures for using Crypto to launder ill-gotten gains. There is no such thing as total privacy no matter how many steps you take to prevent your metadata from being openly transparent. Regardless if you use a VPN. VPNs are the equivalent to a small cable bicycle lock, it’ll deter anyone without a simple handheld cable cutter… But think about how easy it is to access a simple cable cutter. That same principle applies to VPNs, it stops most “wannabe” hackers from easily accessing your IP. But with the metaphorical cable cutter, 15 secs and they have it.
Nowadays, having access to a phone number is all that’s needed for remotely accessing your phone in its entirety https://youtu.be/wVyu7NB7W6Y?si=s_WcMlO-uBxgkLSa
Thats because its harder to trace/track cash than crypto. This isn’t the win cryptobros think it is.
I always use cash for my criminal activities too.