Bitcoin untraceable?

Discussion in 'Bitcoin and Cryptocurrency' started by Dax, Sep 18, 2018.

  1. Dax

    Dax Member

    Is bitcoin truly untraceable I was told if you do it correctly it Is? Did he mean if you don't send it to your home address? If so where do you send it to your neighbor? Just don't want Jeffy knocking on my door. Any insight would be greatly appreciated feel free to private me
  2. master.on

    master.on Member

    Nope it IS traceable

    Not for nothing they haven't been able to cash the multimillion dollar ransom from the last computer virus (I don't remember the virus name now).
  3. What? Send it to your home address?

    Bitcoin is virtual currency, not something tangible that you can hold in your hand. Despite the name, there are no actual coins.

    There are plenty of threads on BTC here. Hell, there's a whole sub forum for crypto. Maybe you should begin there.
  4. SuperSwede

    SuperSwede Member

    Send the coins from wallet to wallet, send it around multiple times makes it harder to trace. But i guess it’s not imposible to trace.
  5. fodsod

    fodsod Member

    If your concern is LE tracing it to use in your criminal case I've got news for you, once it's gotten that far you're already screwed.

    People are tried and convicted of murder with no body found some times. Tracing your actual crypto currency trail for PED purchases is a drop in the bucket for a criminal case.
  6. Millard Baker

    Millard Baker Member

    master.on likes this.
  7. Dax

    Dax Member

    Fodsod, Not even close to that scenario was just wondering for deniability if items get seized at border but what I've been reading that doesn't really matter
    fodsod likes this.
  8. proken

    proken Member

    Bitcoin and most crypto currencies are the opposite of what you'd think. They are based on the (or a) blockchain. Once there, always there. That's why it's "trustless" in effect. I've been into bitcoin for 7+ years, started as a miner, then electricity was more than it was worth in USD to mine so just traded and watched the underlying fascinating algorithm. It's a really simple concept, but very scary to the IMF and central banks. Any transaction you make with another person/company will live and be recorded forever. I started a wallet at coinbase a few years ago, can see every transaction since day one. No deleting any transactions, not good for being anonymous, not anonymous by any means. The reason I think the Silky road warriors take it is that it's so much easier than WU/MG and way less than a hassle to collect on their end, plus can convert into their countries currency instantly. Fees are lower too. I don't think you can 'tumble' via wallets enough times to make it truly anonymous. I think in the end it's more of a convenience factor than a stealth wealth transfer.
    fodsod likes this.
  9. master.on

    master.on Member

    As an interesting fact

    Plane hijacker D.B. Cooper bills (traced by their serial numbers) have never shown up at any bank
    pretty much like computer virus ransom has never been cashed out

    Search for ransom money
    A month after the hijacking, the FBI distributed lists of the ransom serial numbers to financial institutions, casinos, race tracks, and other businesses that routinely conducted significant cash transactions, and to law enforcement agencies around the world. Northwest Orient offered a reward of 15% of the recovered money, to a maximum of $25,000. In early 1972, U.S. Attorney General John N. Mitchell released the serial numbers to the general public.[70] In 1972, two men used counterfeit 20-dollar bills printed with Cooper serial numbers to swindle $30,000 from a Newsweek reporter named Karl Fleming in exchange for an interview with a man they falsely claimed was the hijacker.[71][non-primary source needed]

    In early 1973, with the ransom money still missing, The Oregon Journal republished the serial numbers and offered $1,000 to the first person to turn in a ransom bill to the newspaper or any FBI field office. In Seattle, the Post-Intelligencer made a similar offer with a $5,000 reward. The offers remained in effect until Thanksgiving 1974, and though there were several near-matches, no genuine bills were found.[72] In 1975 Northwest Orient's insurer, Global Indemnity Co., complied with an order from the Minnesota Supreme Court and paid the airline's $180,000 claim on the ransom money.[73]

    Physical evidence
    ... In February 1980, eight-year-old Brian Ingram was vacationing with his family on the Columbia River at a beachfront known as Tina (or Tena) Bar, about 9 miles (14 km) downstream from Vancouver, Washington and 20 miles (32 km) southwest of Ariel. The child uncovered three packets of the ransom cash as he raked the sandy riverbank to build a campfire. The bills were significantly disintegrated, but still bundled in rubber bands.[80] FBI technicians confirmed that the money was indeed a portion of the ransom—two packets of 100 twenty-dollar bills each, and a third packet of 90, all arranged in the same order as when given to Cooper.[81][82] In 1986, after protracted negotiations, the recovered bills were divided equally between Ingram and Northwest Orient's insurer; the FBI retained fourteen examples as evidence.[70][83] Ingram sold fifteen of his bills at auction in 2008 for about $37,000.[84] To date, none of the 9,710 remaining bills have turned up anywhere in the world. Their serial numbers remain available online for public search.[29] The Columbia River ransom money and the airstair instruction placard remain the only confirmed physical evidence from the hijacking ever found outside the aircraft.[85]

    D. B. Cooper - Wikipedia
  10. master.on

    master.on Member

    Lindbergh kidnapping

    Ransom payment[edit]

    The ransom was packaged in a wooden box that was custom-made in the hope that it could later be identified. The ransom money included a number of gold certificates – gold certificates which were about to be withdrawn from circulation,[1] and it was hoped this would draw attention to anyone who was spending them.[5][20] The bills were not marked but their serial numbers were recorded.

    Tracking the ransom money[edit]
    An example of a 1928 series $10 Gold Certificate
    The investigators who were working on the case were soon at a standstill. There were no developments and little evidence of any sort, so police turned their attention to tracking the ransom payments. A pamphlet was prepared with the serial numbers on the ransom bills, and 250,000 copies were distributed to businesses, mainly in New York City.[1][20] A few of the ransom bills appeared in scattered locations, some as far away as Chicago and Minneapolis, but those spending the bills were never found.

    Per a presidential order, all gold certificates were to be exchanged for other bills by May 1, 1933.[34] A few days before the deadline, a man brought $2,980 to Manhattan bank for exchange; it was later realized the bills were from the ransom.

    Arrest of Hauptmann[edit]
    Main article: Richard Hauptmann
    During a thirty-month period, a number of the ransom bills were spent throughout New York City. Detectives realized that many of the bills were being spent along the route of the Lexington Avenue subway, which connected the East Bronx with the east side of Manhattan, including the German-Austrian neighborhood of Yorkville.[5]

    On September 18, 1934 a Manhattan bank teller noticed a gold certificate from the ransom;[1] a New York license plate number (4U-13-41-N.Y) penciled in the bill's margin allowed it to be traced to a nearby gas station. The station manager had written down the license number because his customer was acting "suspicious" and was "possibly a counterfeiter."[1][5][20][35]The license plate belonged to a sedan owned by Richard Hauptmann of 1279 East 222nd Street in the Bronx,[5] an immigrant with a criminal record in Germany. When Hauptmann was arrested, he was carrying a single 20-dollar gold certificate[1][5] and over $14,000 of the ransom money was found in his garage.[36]

    Lindbergh kidnapping - Wikipedia
    sinewave3 likes this.
  11. master.on

    master.on Member

    WannaCry ransomware attack

    The WannaCry ransomware attack was a May 2017 worldwide cyberattack by the WannaCry ransomware cryptoworm, which targeted computers running the Microsoft Windows operating system by encrypting data and demanding ransom payments in the Bitcoin cryptocurrency

    As with other modern ransomware, the payload displays a message informing the user that files have been encrypted, and demands a payment of around $300 USD in bitcoin within three days, or $600 USD within seven days.[22][26] Three hardcoded bitcoin addresses, or "wallets", are used to receive the payments of victims. As with all such wallets, their transactions and balances are publicly accessible even though the cryptocurrency wallet owners remain unknown.[27]
    WannaCry ransomware attack - Wikipedia

    Watch as these bitcoin wallets receive ransomware payments from the global cyberattack

    I wonder if when the virus attackers realized they couldn't cash the money without being caught,
    they spent some of it in streaming gay porn ... starring bodybuilders :D:eek:
  12. master.on

    master.on Member

    That's the theory
    What if it doesn't work in the real world?

    1 They could be running the tumblers themselves.

    2 They can hack all tumbler incoming data, even if encrypted.

    3 They can trace all transfers, especially for large amounts.

    Not for nothing mobsters haven't been able to cash Wannacry virus ransom proceeds.