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Title : Feds Ran A Bitcoin-Laundering Sting Operation
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Feds Ran A Bitcoin-Laundering Sting Operation

Mark Addleman emails:

About a twelvemonth ago, I retrieve yous theorizing that the Feds would produce something similar this.  Looks similar your prediction was on the mark!

He thence points to this The Verge story:

Feds ran a bitcoin-laundering sting for over a year

More than twoscore alleged dark-web drug dealers bring been arrested every bit business office of a sweeping federal assay described past times the Department of Justice every bit “the showtime nationwide subway scheme functioning targeting nighttime internet vendors.” The marrow of the functioning was an online money-laundering draw organization seized past times agents from Homeland Security Investigations in addition to operated every bit a sting for over a year. By offering cash for bitcoin, HSI agents were able to set specific drug dealers, ultimately tracing to a greater extent than than $20 1000000 inwards drug-linked cryptocurrency transactions.

“For the past times year, subway scheme agents bring been providing money-laundering services to these nighttime internet vendors, specifically those involved inwards narcotics trafficking,” said HSI Special Agent inwards Charge Angel Melendez, inwards a press conference before today... 

Melendez declined to laissez passer on specifics on how the subdivision had linked customer wallets to drug transactions, proverb simply, “there are tools in addition to technologies that police pull enforcement uses to bear blockchain analysis.”...

Melendez emphasized that the opened upward nature of the blockchain made it hard to enshroud drug money. “The biggest selling indicate for the blockchain is that it’s transparent. Everybody tin run into it. And nosotros tin run into it, too.

More than iii years agone inwards a post titled,  A Warning to Libertarians: Please Do Not End Up Like Ross Ulbricht, I wrote:

There are claims that  at that spot are novel bitcoin mixing technologies that brand bitcoins completely anonymous inwards use. But how tin nosotros know that it is non the authorities that has develop these mixing exchanges, or infiltrated them afterward they bring been laid up? And decease along inwards mind, the buying in addition to selling of drugs on the nighttime internet even thence requires physical delivery. How produce nosotros know the authorities isn't capturing the physical addresses where the drugs are delivered? How tin nosotros know that the authorities isn't running a major sting to grab sellers?

-RW  

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