Can someone explain how is it than once you pull something like this you effectively get real money?
What are the countermeasures, is something frozen blocked marked as invalid?
I'm completely ignorant on anything related to cryptocurrencies.
What are the countermeasures, is something frozen blocked marked as invalid?
I'm completely ignorant on anything related to cryptocurrencies.
These batches are then either slowly swapped into Monero or funneled into zero-knowledge privacy pools like Tornado Cash or Litecoin MWEB. (Unless it’s a state-sponsored entity like North Korea, that usually don't even bother hiding their on-chain traces).
After settling these converted batches, they often wait an indefinite amount of time; sometimes months, sometimes years... For example, the 2017 Parity Wallet hacker waited until around 2023 to start cashing out slowly. When they finally reach those late clean-up phases, lists like kycnot[.]me become absolutely invaluable.
Though, if they ever get bored and happen to have some sense of humor, they might skip the quiet route entirely and demand that Binance transfer corporate leadership to them, just like the legendary KyberSwap hacker did in 2023 when he literally demanded to become the new CEO.¹ ²
[1] https://nitter.meowing.monster/nic__carter/status/1730237890... [2] https://etherscan.io/tx/0x0479da9d6a3a29b294d6337630ea0a482e...
Imagine someone offered you to buy $1,000,000 of that dirty money for $100,000? $10,000? $1,000?
At some point there will be people who would buy it and deal with money laundering.