So the hacker who hacked Aeternity for $30M ETH can't possibly cash out to FIAT right?

learn about vpn and other overlay networks

>trade to btc
>trade to monero
>trade to xrp
>cash out
oh shit that was hard

Monero

what allows you to cash out from xrp?

this hacker is Vitalik
he well never cash it, he have aloot clean ETH for cashing

Lol, what you said dont even make any actual sense

this is different, its money online

You still will not be able to explain the $30M dollars. Lol. and in america all trades are taxed. Plus, like I said FBI or police will just look at your ISP history

Are you saying that ISPs cant track crypto transactions?

bump

go ahead and buy bitcoin then, if you're so sure about that, user

I don't think what the hacker did was illegal, you don't "own" crypto, so it's not theft.

The incident has already been reported to the interpol. It's a crime.

What is the crime? As far as I know it's the program who is at fault for allowing this, they did not tamper with it.

The crime is theft. They stole ETH that does not belong to them. Cryptocurrency is property.

He doesn't care about cashing out.

The hacker shorted ETH before the hack and has already made off with his profits.

Did the hack actually cause a decrease in the price of ETH though? I seem to remember that there was not much change after the hack.

Anyway, he was laundering it.

Do you think he's going to give his ID to Poloniex and try to cash out $30M all at once? He has all the time in the world to launder the money and evade the feds. It will be even easier if he waits until zkSNARKs are implemented.

Also, it is very easy to hide activities from your ISP. Otherwise every illegal site on the dark web would get taken down.

I just realized you were talking about DAO hack.

If you were the hacker would you not be worried of the price of ETH going down?

I agree with the OP, there's nothing he can do.

All he needs to do is lowly sell on places like Ebay and Localbitcoins, send 100ETH at a time to exchanges and trade it for other currencies, use changelly to transfer to new currencies.

I could personally clean the whole lot in a week and get it out to FIAT in a month, no problem.

For a start you just open a bank account somewhere like the Cayman Islands, then work at losing the trace-ability as above and with bitcoin mixing.

It's really not that hard.

how can he cash out if everybody can look at the transaction history? If the police is involved they will find him sooner or later

cryptocurrency is not 100% anonymous

If the hacker's intention is to cash out any part of the stolen Eth at all, it would never be done by trading the Eth straight into dollars or into any other cryptocurrency that will leave a paper trail. He's not stupid.

First thing that comes to mind is launder it through Monero and multiple burner wallets just in case. Even then, he couldn't cash out larger amounts of it at once. Theoretically, if you pique the interest of the powers that be, they could request your internet activity history and your trade history from every exchange you've dealt with. They could then observe what kinds of sums you've been moving around. If you have a few thousand worth of cryptos that suddenly becomes ten thousand worth without your trade history showing any corresponding trade activity, that's subject to questioning. If you have millions worth of Monero suddenly, that is subject to questioning, EVEN THOUGH it can't be proven where it came from if you received it in many little transactions. That's the best you can do, I believe. In any case, the hacker won't be trying to cash it out anytime soon. He's going to let the post-hack hysteria cool down before he starts shifting any of that money, if he ever planned to do that at all and didn't just short Eth for gains instead.

Virtual currency (even MMO gold believe it or not) is considered actual currency in many countries. S. Korea were the first to jump on that ball even before BTC

Won't the exchange seize his money when he tries exchanging ETH to another coin?

...? are you retarded? any exchange that allows fiat transfers should have xrp-fiat now.

I use Coinbase and Gemini. Both do not..

hello im a leaf and what is quadrigacx

>use ETH to buy a more anonymous coin with mixed pools
>cash out via that

>buy bitcoin then
Done

in my country if you bring over that amount of USD and put in gov bank they wont ask you the source. crazy right?

You got the laundering part right, but most likely he will open up a bank account(s) under a company name(s) in a financially private country, do the crypto to fiat conversions to that bank account(s), and then move the money from there. This would stop most would-be non-government investigators if they managed to track him through the blockchain to the exchange. Another thing that comes to mind is the possibility of an under the table deal for crypto-fiat conversion. Either way, when it comes to explaining his large sums of money, all he has to do is say he's been in cryptocurrency since 2010, and then say nothing at all. At the most he will have to pay taxes. In most countries, they don't arrest you for having $30m. I know some people here don't want to admit it, but crime pays, and Mr. hacker just got his ticket to lamboland

they will convert it through exchanges to BTC, flow the BTC through launderer services, then cash out
probably even gonna convert to monero or zcash prior to BTC

practically nobody will be able to check where their money comes from the moment they transfer the ETH into some crypto with better inherent privacy

cashing out monero will make you subject to questioning pretty much no matter what
they'll cash out BTC