/tech/ - Technology

Brought to you by archive.org

Posting mode: Reply

Check to confirm you're not a robot
Drawing x size canvas

Remember to follow the rules

Max file size: 350.00 MB

Max files: 5

Max message length: 4096

Manage Board | Moderate Thread

Return | Catalog | Bottom

Expand All Images

(109.91 KB 950x534 Bitcoin.jpg)
Anonymous 11/08/2016 (Tue) 12:11:09 [Preview] No. 7323
In what situation would I need to tumble my bitcoin? I mean if law enforcement did not know what my bitcoin public keys where but I also had a large sum of money going into a bank account under my name how could they find out if I got that bitcoin legal or not?

Anonymous 11/08/2016 (Tue) 16:10:02 [Preview] No. 7326 del
(113.66 KB 612x612 1448238693978.jpg)

>how could they find out if I got that bitcoin legal or not?

Depends on which end of the money flow you're being investigated from.

Example scenario #1: LEAs compromise a darknet market and trace payments for illegal goods/services to one of your public keys. They see subsequent transactions involving those public keys and a company that exchanges BTC->USD (or GBP or EUR or whatever). They get a warrant for information about the exchange from the exchange company. They then have information about your bank and deposits. They get a warrant for information from the bank. They now have a chain of transactions tied to you from sale of illegal goods/services through to your deposit in your name at the bank. If you tumble your bitcoins, theoretically, it's more difficult to make the connection from the public key that received BTC for illegal goods/services and the eventual conversion from BTC to fiat currency in your name.

Example scenario #2: You deposit at your bank an amount of money or in a pattern that raises red flags. LEA gets warrants from the bank and the depositing company (the BTC -> fiat exchange) and gets information about the BTC address involved in the transaction. They then try to tie the BTC address to receipt of BTC for the sale of illegal goods/services. If you're using a DNM that has its payment system set up properly, this should be really difficult. That's a form of tumbling in itself.

LEA ability to associate illegally acquired Bitcoins with you depends on 1) associating an illegal transaction with a given Bitcoin address, and 2) associating that Bitcoin address with you. Tumbling your Bitcoins attempts to make that difficult by obscuring the relationship between the Bitcoin address involved in an illegal transaction that the one that eventually is used to transfer Bitcoins to fiat currency in your name.

Anonymous 11/09/2016 (Wed) 12:30:34 [Preview] No. 7334 del
I never used bitcoin so i'm not an expert, but i remember reading that there is this site which will excange your coins for someone elses and then if LEAs are after you their trail ends at that site.

Anonymous 06/06/2017 (Tue) 23:06:10 [Preview] No. 8542 del
>In what situation would I need to tumble my bitcoin?
here's a scenario: you want to assert your right to privacy

>how could they find out if I got that bitcoin legal or not?
>guys with guns at your door
>you have 5 seconds to prove how you got this money or we fuck up your life

Top | Return | Catalog | Post a reply