washing crypto USD Nigeria Poland Shawshank Redemption stablecoins

as reply to The Bald Man

Denver had been the one to introduce them. Denver was old school. Didn't know slick about 
crypto
. He hadn't even used a bank account in twenty years. But Denver knew a guy. Didn't know a guy who knew another guy. Actually knew The Guy.

When Marc Love had to disappear from the world of the Blue Man, he thought he wouldn't be able to take his money with him. It wasn't like the old days where you could forge your identity like in 
Shawshank Redemption
. The entire world was connected. The banks and governments could track you by photo Id. They didn't even need human eyes to do the tracking. Algorithms could match you.

But with crypto Love could take some of his money with him. Not all the money The Guy reminded him. He'd take a cut himself.

This was the method. Love had to transfer the money as a business transaction. The account that the business transaction was sent to was owned by a dead man who the government still believed was alive. One day the government would realize what the account was used for and seize it. But by then no money would be in it. Any money transferred into it was used to purchase 
stablecoins
. Different clients transferred their money into this account, so by the time it began sending out the stablecoins into disparate accounts through tens of thousands of transactions, the original source and amounts of the clients would be obfuscated.

The Guy then sent you all of Love's funds (minus the guy's fee) into five accounts. This way if Love lost access to one or even two of his accounts, he wouldn't be shit out of luck. After that Love had access to nearly all of his money minus the fee in the form of stablecoins belonging to accounts that had nothing but blockchain addresses associated with them.

Eventually someone could trace the transactions from those five accounts back through the tornado of transactions that The Guy had orchestrated. Then they could eventually trace everything back to the point of purchase where the dead guy's bank account had made the purchase of the stablecoins. But by then The Guy would be elsewhere. And be using a new bank account held by another dead guy.

To get actual cash that he could spend he sent the stablecoins to an address. He would also need to broadcast an encrypted message that was only decipherable by the address owner. It would contain the physical address to which the physical cash would be sent.

So far it had worked every time. Five thousand dollars in 
USD
cash would arrive at whatever postal address he had broadcasted. It never arrived before five days. Never took longer than two weeks. The postage stamp revealed that it came from overseas. Sometimes from 
Nigeria
other times from 
Poland
.
Replies to washing

Westcity