crypto laundering
Blockchain money cleaning
Crypto laundering is the use of cryptocurrency to disguise the origins of illegally obtained money.
The process typically involves converting dirty funds into Bitcoin or other digital currencies, moving them through multiple wallets or mixing services to obscure the trail, then converting back to conventional currency.
The decentralized and pseudonymous nature of blockchain transactions makes this attractive to criminals, though increasingly sophisticated tracking tools have made it less anonymous than early adopters assumed: Federal investigators traced the crypto laundering scheme through dozens of wallets.
- walletSmall case for currency
- mixerCombines ingredients or people
- tumblerFlat-bottomed drinking vessel
- blockchainCryptographic linked transaction record
- offshoreAway from land
offshore account · shell · shell company · dirty · clean · money mule · transaction · anonymous · exchange · paper trail · dark web · untraceable · dirty money · wire · funds · illicit · scheme · trail
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