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

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Seizure of Bitfinex funds is a reminder that crypto is no good for money launderers
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Here's how the Bitfinex suspects' case can help defeat a major anti-crypto narrative.

The document describes a large-scale operation to conceal the traces of stolen Bitcoin that involved thousands of transactions passing through multiple transit hubs such as darknet marketplaces, self-hosted wallets and centralized cryptocurrency exchanges.

Speaking of the investigation, Marina Khaustova, chief executive officer at Crystal Blockchain Analytics, noted that the Bitfinex case is an especially hard one to crack due to the sheer amount of stolen funds and the perpetrators’ extensive efforts to conceal their operations. She commented to Cointelegraph:

One possible explanation of why Lichtenstein and Morgan ultimately got busted is the seeming nonchalance with which they abandoned caution and began spending the allegedly laundered funds in their own name. Were they simply not smart enough, or is it because law enforcement has gone unprecedentedly deep into the transaction chain, deeper than the suspects could reasonably expect?

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