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If hackers convert stolen money into bitcoin and then deposit the money into a regular commercial bank assuming that they stole like 100 million dollars or more, would it be possible for them little by little to wire the clean money into a regular commercial bank in the United States or for that matter into some other rich developed first world nation like Canada, Australia or New Zealand??? Thank you.
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What you're describing is called structuring, and it's illegal in the United States. It is probably illegal in other countries, too.
but can hackers do it or not if its 100 million dollars or more? hackers will convert stolen money into bitcoin and then purchase items to later resell them. after reselling them thats where clean money comes into the picture. if a hacker steals 100 million dollars or more and theyre not converting the stolen money into bitcoin then how are they doing it then? what about the clean money just being deposited into a regular commercial bank in their own country and not wiring internationally? would it be less complicated then? what can hackers do and not do if were not underestimating them? – Donald Bathe – 2017-01-21T20:47:08.637
1@DonaldBathe It depends. You're asking for absolutes in a world full of maybes. What you're describing is not really a technical question - it is a social engineering/money laundering question. For example, when the money arrives into its new location, and the FBI asks the bank account owner what all of the money is from, what does this hacker say? – Nick ODell – 2017-01-21T22:53:44.350
BTC is traceable by serial number just like $100 bills. Mixing good money with bad doesn't seem to be a great idea. – SDsolar – 2017-01-31T01:16:31.113
then how can they pull it off in third world countries then if they just couldnt do it in first world nations like japan, australia, new zealand, western europe, the united states, and canada then? why is this more prevalent in third world countries than it is in first world nations? rsvp. – Donald Bathe – 2017-02-04T17:31:53.820