What is the meaning of Bitcoin money laundering (Bitcoin money laundering scam process)
What does Bitcoin money laundering mean? What is the definition of Bitcoin money laundering In the world of blockchain, people are considered to be able to trade. Because digital currency itself is a very important technological foundation, it not only provides payment methods, but also has a new mode of production: decentralization and peer-to-peer networks. Therefore, we often hear about how Bitcoin operates So what is Bitcoin money laundering? What are the main functions of Bitcoin? 1、 Anonymous Bitcoin is an anonymous Cryptocurrency. Through its special technical features, hackers can control their funds. For example, Stablecoin project parties such as Tether also use this method to illegally obtain users’ private keys (usually Tether). Due to its high privacy and immutability, Bitcoin’s security attributes are protected. And anonymity means that anyone can easily use this technology to disclose their identity information to themselves and allow other users to access it. However, due to their inability to access financial services, there is no effective way to prevent the intrusion of attackers or criminals. 2、 Why is Bitcoin valuable due to its opacity? Bitcoin is actually a fully auditable, unlicensed network system that can be used to monitor various transaction activities. According to the International Anti Fraud Center Coinatmradar, approximately 70% of people worldwide were affected by scammers in 2017
Bitcoin money laundering transaction scam process
Editor’s note: This article is from Caiyun Blockchain (ID: cybtc_com) and is authorized to be reprinted by Daily Planet
It is reported that Bithumb, a Bitcoin exchange in South Korea, laundered money through a fraud, defrauded customers of Cryptocurrency assets worth tens of millions of dollars and transferred them abroad, and then converted these funds into cash or dollars. The company claims to be a Russian citizen and a British citizen. According to the press release, the company also sent an email to the exchange: “Please rest assured that we have established a partnership with our bank.”
They stated, “In the past few years, we have discovered many fraud cases in Japan, including money laundering fraud, theft, and other illegal transactions.”
The executive told CoinDesk, He obtained a “large amount” of Cryptocurrency from friends all over the United States – but it did not meet their expectations in the end. (Note: The Bitcoin. com website shows two new cases involving Bitcoin transactions, caused by a fake account created by former Google employees David Miller and Ben Thompson.) Miller pointed out that criminals use this method to conceal their identity. He said, “If someone doesn’t do this, you may be arrested,” adding that his company has not provided any evidence to prove its authenticity. However, I think this may be a shocking situation. However, “even so, this idea has been verified.”
In order to make people believe this, the company tries to obtain personal information in an anonymous way: “If you know your name or ID number number, you can’t track it.” In addition to forging addresses, the company can also use other methods to obtain personal data and some internal documents, such as Bitcoin addresses In fact, since last year, many well-known figures have begun to study how to exchange these digital assets back into the domestic market. Recently, Australian police accused the CEO of an unnamed company running an unregistered service company on suspicion of misappropriating investors’ encrypted assets.
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