Bitcoin Forum

A way to launder stolen BTC ?
some thoughts... what do you think?


1. A thief creates a account on bitcointalk (and reddit) to announce a giveaway with a huge amount. (1000 BTC) This gains a lot attention.

2. He asks someone (or is making it himself) to start a lottery game, where a lot of player participate with relative tiny amounts.

3. Now he(they) use the giveaway account to announce this lottey game. Faking a hack of the givaway account is good for this purpose, because there is already attention that helps to start a lottery game.

4. Then the thief participates on the lottey on each round, with a part of the stolen funds. And a unsuspecting player will win finally.

5. On each x round the thief don't participates on the lottery with stolen funds and he will win those rounds. This way he gets back laundered BTC from the participants of the game.

6. And the guy who runs the lottery is supposed to win the early announced giveaway. For his efforts...



sources:
https://www.reddit.com/r/Bitcoin/comments/4vykkr/1000_btc_giveaway_from_your_friend_rekcahxfb/
https://bitcointalk.org/index.php?topic=1574127.0

https://www.reddit.com/r/Bitcoin/comments/4w786e/alert_bitcointalkorg_account_compromised_do_not/

https://bitcointalk.org/index.php?topic=1577756.0

Did not explain how he picked the random.

This one won:

https://www.reddit.com/user/TheTwistedTwo
https://blockchain.info/address/1NYT1f6Mbty6iZiHPQtM5fDSmSKk6e2HKN
Edit; not yet confirmed though.

There really is no such thing as a currency safe from scam.

Whatever innovation you roll out, you can bet someone will find a way to scam others with it.