Brazilian Police Seize $33M in Crypto Money Laundering Probe

64K · Jul 24, 2021

A couple of things I have been hearing over the years is that crypto isn't used by criminals but almost everyday I read about a new criminal activity being brought down by authorities and crypto is involved.

The other is that crypto can't be traced by authorities. That doesn't seem to be true either.

Brazilian Police Seize $33M in Crypto Money Laundering Probe

The Brazilian judiciary authorized freezing accounts and taking assets from two individuals and 17 companies.

www.coindesk.com

Zach_01 · Jul 27, 2021

Banish crypto now!
And also banish USD and Euro because money launderers use those too for decades now…

Chomiq · Jul 27, 2021

64K said:
A couple of things I have been hearing over the years is that crypto isn't used by criminals but almost everyday I read about a new criminal activity being brought down by authorities and crypto is involved.

The other is that crypto can't be traced by authorities. That doesn't seem to be true either.

Brazilian Police Seize $33M in Crypto Money Laundering Probe

The Brazilian judiciary authorized freezing accounts and taking assets from two individuals and 17 companies.

www.coindesk.com

But narcos bought real estate in Miami with USD.

windwhirl · Jul 27, 2021

Can't be traced? Yes and no. Some coins like Monero are truly nearly impossible to trace. Bitcoin and other popular coins are somewhat traceable by nature though , as the transaction logs are public. Besides, if you use an exchange, at some point the transaction will get tagged with your name as part of the reports sent to anti-laundering or tax offices.

Want anonimity? Use cash and operate without documentation.

thesmokingman · Jul 27, 2021

It's like, nah the Feds/DoJ and other world authorities have not been raiding criminal wallets... nah that never happens.

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Brazilian Police Seize $33M in Crypto Money Laundering Probe

64K

Brazilian Police Seize $33M in Crypto Money Laundering Probe

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Zach_01

Chomiq

Brazilian Police Seize $33M in Crypto Money Laundering Probe

​

windwhirl

thesmokingman