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Seizure of Bitfinex funds is a reminder that crypto is no good for money launderers -Breaking


As public understanding of how digital assets work becomes more nuanced along with the mainstreaming of crypto, the language of Bitcoin’s (BTC) “anonymity” gradually becomes a thing of the past. Recent high-profile law enforcement actions such as that which led to the U.S. GovernmentTaking $3.6 billion in crypto are particularly instrumental in driving home the idea that assets whose transaction history is recorded on an open, distributed ledger are better described as “pseudonymous,” and that such a design is not particularly favorable for those wishing to get away with stolen funds.

It doesn’t matter how much criminals attempt to hide the movements of the ill-gotten money digitally, they will at one point invoke addresses to which personal information has been linked. The Bitfinex case was a classic example of this, as shown in documents published by the U.S. government.

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