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LAGC

(5,330 posts)

5. Hackers steal traditional money and convert it to crypto to launder it.

Reply to skypilot (Reply #4)

Thu Oct 11, 2018, 01:29 PM

Oct 2018

Once dollars are converted to Bitcoin and "tumbled" it becomes nearly impossible to trace.

The crypto can then be converted back to dollars at some later point, with no way to know whether it was stolen in the first place.

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Highlight:

Nearly $13 billion wiped off of cryptocurrency market as major coins plunge [View all] Recursion Oct 2018 OP

Suckers............ Historic NY Oct 2018 #1

+1 Blue_Tires Oct 2018 #8

Really. And I hope it goes to zero. W/ no accountability and apparently the favorates of ... SWBTATTReg Oct 2018 #2

My checking account was hacked $5k over the summer by a crypto currency. Thekaspervote Oct 2018 #3

??? skypilot Oct 2018 #4

Hackers steal traditional money and convert it to crypto to launder it. LAGC Oct 2018 #5

Thanks. skypilot Oct 2018 #6

You've just explained why it's all a scam FakeNoose Oct 2018 #7