Clearly the funds weren't "washed", because they traced them...
KYC isn't meant to prevent money from moving at all, it's meant to enable tracing of the money.
KYC isn't meant to prevent money from moving at all, it's meant to enable tracing of the money.
Just the fact that he was in tokyo (japan), instead of a non US aligned country, such as Russia or China, that he had his private keys easy accesible and that he stayed in BTC instead of going for another crypto more anon friendly, says a lot of the stupid nature of this "criminal"
But once again, my whole point is, coinbase allowed a random person to deposit 154 millions USD and withdraw 3.8k btc with absolutely no problems? and in a quickly way, according to the original article
I think its safe to assume that the banks said, okay the money went to coinbase, and coinbase just said yeah about that, he used the money to buy BTC and withdrew it to this wallet and thats about it
the guy was located cause he didnt even try to hide himself, the rest is history.
my point remains, if this, that was a such dumb crime, managed to convert the stolen funds into BTC using coinbase with absolutely no problems, then its easy to assume that real and strong money going to biggest offshores exchanges is from illicit sources.
I don't get why that was not an option.
Coinbase does not serve PRC citizens or Russians (see https://www.coinbase.com/places). Exactly so that any money laundering can be caught by US government.
Don’t put words in a mouth that never said it.
And as a person (citizen), yes. As a business, one doesn’t care if bread or guns they make help potential criminals to live or murder. If you don’t ask your customers if they are “bad guys who have all the paperwork but still stolen this money” at the doorstep, don’t blame others. Regulations are there for you to not trouble your head about it, just follow them.
Why are you stating this as if it an unquestionable fact? It sure as hell isn't.