Learn a skill instead, you will be set for life.

[Outhue]

Hi everyone, here is another example why you can't and shouldn't launder money using cryptocurrency.

https://crypto.news/heir-to-cartier-empire-arrested-for-attempted-money-laundering-using-usdt/

Many newbies and beginners believe that crypto is a way they can move funds without the government knowing, you are wrong, in fact crypto is a very bad way of laundering money, everything you do can be traced.

This guy is charged with drug trafficking and laundering of funds using USDT, I can't stop laughing when I read this news, USDT that's even wired to clap on illegal funds, it is centralized in and out.

If your source of money is not clean, crypto is not your home, where you should feel safe.

Some people might say why USDT, but let me tell you, even with Bitcoin and others you can still be traced, you will leave some footprint behind, it could take longer but one day, you will make a mistake.

Abstain yourself from illegal ways of making money, learn a skill and you will be set for life.

[Upgrade00]

From the article, USDT was not the means of laundering the money it was just the payment option they chose, perhaps because they thought it will make the job easier. They tried to use shell companies to clean the money from drugs and then transfer that using crypto, surprising considering the individual involved, but not surprising for some reasons.

Your advice holds good. Crypto doesn't offer a traceless route to hide illegal funds.

[Davidvictorson]

Cryptocurrency is the worst way to Launder money. No one can alter a transaction already recorded on the blockchain. It's just like say you can't run and you can't hide. And if you use the services of an exchange, where KYC is required and is highly regulated, you see.
Which is why I burst out laughing when people in government say that cryptocurrencies such as bitcoin has increased the crime rate or is used for illegal means. Fiat such as the dollar,pound, sterling, euro, naira are still the most common way of laundry money.

[Lida93]

Abstain yourself from illegal ways of making money, learn a skill and you will be set for life.

The culprit in the story is one that is already made for life going by his  background in the story it said, and I quote  "he is an heir to cartier empire, a direct descendent of Louis Cartier; the founder of the luxury watch, necklace, and bracelet maker", end of quote. If he was never caught I guess no one would have believed he was into such shit and illegal business his financial success would have been rather attributed to the influence of his lineage, but thanks to cryptocurrency, he was flagged out for what he really does.

A lot of these rich folks if their sources of finance is been track/traced end to end I bet you that most of them will be going to jail straight ahead as a result of how they make these monies through some illegalities. Only then can some of us who are striving with our knowledge, skills and up-skilling will be able to well appreciate the little efforts we have made so far in life to getting up to where we are at the moment.

[Alpha Marine]

It's easier tolaunderr money through fiat than crypto, that's why I wonder why the government always crypto is used for money laundering. As far as an address and coins are being traced and watched, there will most likely be aslip-upp and the person will be caught if he's doing anything illicit.

Going back to your topic, learning a skill doesn't necessarily mean you're set for life, but I agree that learning a skill is good. Most people believe ones you learn a skill all is set but reality is not usually so. There are things you need to do first. One of them is marketing yourself. You have to know how to market yourself to your target audience.
Also, you need to know that you will constantly learn. Never stop learning and trying to improve yourself. You must know that you're not the only one with that particular skill, there are tons of people with that skill so something has got to set you apart from the rest and that's only by getting better.

[AVE5]

Since cryptocurrencies being a non custodian digital technology, some scammers has really thinks that crypto system is the captive access where they could launder and do their criminal activities without being caught.
I think this is the same thought why my country is fighting against cryptocurrencies, not. Basically that  it was the cause for the devaluedbof the fiat but also on the fact that Individuals and corrupted politicians are being engaged using the crypto system to do their criminal activities of money laundering.
Meanwhile in a technical impact, crypto currency as a transparent financial transaction services can be visual and traceable if taking a proper means of hunting the perpetrators.

I think this victimized launderers update should be another promotional exercise for cryptocurrencies where the world and specifically the authorities who thinks it's an easy means to launder money to also understand that crypto industry is not a safe system for criminal activities.

[tabas]

As for that guy, he doesn't need to learn a skill because he's set already for life because he's an heir of that luxury brand. But for plebs like me, we sure need to keep learning new skills in order for us to become marketable and able to survive these tough times where everything is becoming costly and more. Well, this is like a normal problem for the rich folks that can't do anything with their money. They're looking for explorations and journey and coming to this point of their lives that they are getting involved with illegal matters because money is greater and quickly coming on them. He's not probably aware that Tether Can Freeze and Destroy Your USDT

[Spaceman1000$]

Hi everyone, here is another example why you can't and shouldn't launder money using cryptocurrency.

https://crypto.news/heir-to-cartier-empire-arrested-for-attempted-money-laundering-using-usdt/

Many newbies and beginners believe that crypto is a way they can move funds without the government knowing, you are wrong, in fact crypto is a very bad way of laundering money, everything you do can be traced.

This guy is charged with drug trafficking and laundering of funds using USDT, I can't stop laughing when I read this news, USDT that's even wired to clap on illegal funds, it is centralized in and out.

If your source of money is not clean, crypto is not your home, where you should feel safe.

Some people might say why USDT, but let me tell you, even with Bitcoin and others you can still be traced, you will leave some footprint behind, it could take longer but one day, you will make a mistake.

Abstain yourself from illegal ways of making money, learn a skill and you will be set for life.

From the storyline, is not sounding as if Cartier was using USDT because he doesn't want to be traced, but it was more like him using a method that will be easy for him to launder his loot, because obviously the world will see him as rich guy who earns legitimate money from his business. The shell companies linked Cartier where using Centralized exchange, which will certainty need your KYC for you to even make transactions in USDT, so it was a deliberate method for him to use to launder money.

For me, the story line should be, Why would you want to still go into illicit business, when you where born into a wealthy family with so much left for you to inherit. From the evidence obtained, it is certain that the rich dude will do his term.

[Hatchy]

Cryptocurrency is the worst way to Launder money. No one can alter a transaction already recorded on the blockchain. It's just like say you can't run and you can't hide. And if you use the services of an exchange, where KYC is required and is highly regulated, you see.
Which is why I burst out laughing when people in government say that cryptocurrencies such as bitcoin has increased the crime rate or is used for illegal means. Fiat such as the dollar,pound, sterling, euro, naira are still the most common way of laundry money.

One of the easiest ways to launder money is through cryptocurrency if you understand how it works well. However, it's also one of the easiest ways to get caught. Many governments oppose cryptocurrency not mainly due to crime rates or illegal activities, but because they can't control it. Governments want full control over everything within their jurisdiction, but they struggle with cryptocurrencies like Bitcoin. People are often caught laundering money using crypto when they transfer it to centralized bodies. A skilled criminal would avoid anything involving KYC. This is also why governments oppose mixing platforms. One could clean their coins using mixers and then divide them into different wallets, making them hard to trace. Though mixers were created to increase privacy, but criminals have seen it as a way to perform illegal activities.

[Crypt0Gore]

From the article, USDT was not the means of laundering the money it was just the payment option they chose, perhaps because they thought it will make the job easier. They tried to use shell companies to clean the money from drugs and then transfer that using crypto, surprising considering the individual involved, but not surprising for some reasons.

Your advice holds good. Crypto doesn't offer a traceless route to hide illegal funds.

They choose the wrong one, it is an example of using what you don't understand, many people still thinks wrongly about how crypto works, it is very complex, if you are not ready to learn you won't know what you ate getting into.

This reminds me of a stranger you wanted to sell USDt to me on telegram at a lesser amount, he said I could buy one USDT for $0.90 each, any greedy bastard would have fallen for this, he does show me some proof of past transactions he did with people.

He is legit in terms of selling those USDT but where the USDT came from is what I was curious about, so I decided to scare him, I said I knew this USDT was stolen, it is stolen fund and what you don't know is that there is a tracker in on every USDt addresses, you are been watched right now.

If I was wrong he wouldn't even care, but instead, he started asking me questions about how he could be tracked, this was how I knew that the Usdt was not clean.

The lesson of the day

Stop being greedy, when something is too good to be true then something is wrong, always be curious about everything, especially good offers online.

[Jawhead999]

But, someone who have learn skills to laundry money will not get caught right?

Learn to not use bad privacy OS, use privacy oriented browsers, use most anonymous coins, use anonymous way to convert your coins... the final step is to find a way to cash out and way to brought the money.

This case is the meaning of lack skills and experience, they didn't able to stay as anonymous as Satoshi Nakamoto, where no one able to find his credentials.

It's not I support money laundering or illegal ways, but that's just the example of "learn a skill".

[sokani]

I do not support money laundry or any illegal activity but c'mon, USDT is the worst crypto to use to launder money, tether is centralized and they're in bed with the authorities. Once a transaction is reported to have come from an illicit origin, it will be frozen.

Some people might say why USDT, but let me tell you, even with Bitcoin and others you can still be traced, you will leave some footprint behind, it could take longer but one day, you will make a mistake.

Why do you think the government is clamping down on privacy enhancing tools? Cuz they make it difficult for funds to be traced. Using Bitcoin or other privacy coins doesn't mean your transactions are untraceable but if you know what you're doing it's difficult to be tracked.

[SatoPrincess]

OP, your topic title and the thread content do not match. The story you linked is one of a wealthy man (old money I presume) who is involved in illegal activities, it’s not a matter of having a skill or not. This person is obviously not lacking in their finances.

Using Bitcoin or other privacy coins doesn't mean your transactions are untraceable but if you know what you're doing it's difficult to be tracked.

Bitcoin is not a privacy coin, all bitcoin transactions are public information. Trying to use it as such will take extreme effort from your end. Privacy coins like monero are more suitable for those purposes.

[Outhue]

OP, your topic title and the thread content do not match. The story you linked is one of a wealthy man (old money I presume) who is involved in illegal activities, it’s not a matter of having a skill or not. This person is obviously not lacking in their finances.

Using Bitcoin or other privacy coins doesn't mean your transactions are untraceable but if you know what you're doing it's difficult to be tracked.

Bitcoin is not a privacy coin, all bitcoin transactions are public information. Trying to use it as such will take extreme effort from your end. Privacy coins like monero are more suitable for those purposes.

I heard you, it is like what someone also said that this person is from a rich home anyways, if he isn't lacking why is he into illegal activities?

If you are very rich and you have children, you don't need to teach them the right from wrong, just let them do what they like because they have a rich father or rich family.

How is my topic not matching? That I am telling people either from rich home or not to abstain from illegal activities and instead they should learn a skill atleast to start making money, how is this not matching?  

For someone who is into drug trafficking and other illegal things, how is telling them to learn a skill instead not making sense? When you have your kids teach them how to pass drugs around and see what happens.

Maybe you should read the whole content again.

[DarkState]

Abstain yourself from illegal ways of making money, learn a skill and you will be set for life.

I agree with you. We should all strive to acquire skills. For a bright and stable future, we should be proficient in any one or more subjects. We all should learn programming, digital marketing, or any demanding skill. So that in the future we can use these skills to earn honestly. Having skills increases self-reliance. There is also a lot of satisfaction in earning legitimately.

[348Judah]

Many newbies and beginners believe that crypto is a way they can move funds without the government knowing, you are wrong, in fact crypto is a very bad way of laundering money, everything you do can be traced.

If some are to use crypto for money laundry, they can do that and there is nothing others can do about it as long as they know the means and ways to channel their actions towards that, this is not because making laundering is good, but we have to know this that cryptocurrency networks or the blockchain technology were not aimed for that, why we need to use crypto is for us to have financial privacy and control our finances, which is a more preferred means we can handle our asset away from the governments and their regulations.

[Ludmilla_rose1995]

Hi everyone, here is another example why you can't and shouldn't launder money using cryptocurrency.

https://crypto.news/heir-to-cartier-empire-arrested-for-attempted-money-laundering-using-usdt/

Many newbies and beginners believe that crypto is a way they can move funds without the government knowing, you are wrong, in fact crypto is a very bad way of laundering money, everything you do can be traced.

This guy is charged with drug trafficking and laundering of funds using USDT, I can't stop laughing when I read this news, USDT that's even wired to clap on illegal funds, it is centralized in and out.

If your source of money is not clean, crypto is not your home, where you should feel safe.

Some people might say why USDT, but let me tell you, even with Bitcoin and others you can still be traced, you will leave some footprint behind, it could take longer but one day, you will make a mistake.

Abstain yourself from illegal ways of making money, learn a skill and you will be set for life.

Beginners think that with crypto currency transactions they will not be detected, that is all a mistake, in fact crypto currency will record all transactions made via the blockchain technology it has, even if you transact with monero, you can still be tracked cmiiw

if you want to be untraceable then use fiat money, this will really make your funds untraceable

[Saint-loup]

The title has nothing to do with the topic, do you really think those guys could learn skills allowing them to earn several millions of USD like they did with drug traffic and money laundering? Don't joke dude. In addition, nothing says in the article they get caught because of USDT, they may have been arrested by the police for other reasons not linked to cryptocurrencies and blockchain, who knows? Crytocurrencies are still widely used on the darknet without main concerns as far as I know.

[Asiska02]

Those that launder money through cryptocurrency are just not informed and are likely to get caught easily than using any other means. Since cryptocurrency is not government owned and can be transact without the knowledge of the government, many will think is a gateway to launder money and involve in illegal deals through it. If they’d known they wouldn’t be using it because it’s the most easiest way to trace money and that’s what fiat currency cannot do in most occasions that cash is been used to transact or launder money.

[Zlantann]

Hi everyone, here is another example why you can't and shouldn't launder money using cryptocurrency.

https://crypto.news/heir-to-cartier-empire-arrested-for-attempted-money-laundering-using-usdt/

Many newbies and beginners believe that crypto is a way they can move funds without the government knowing, you are wrong, in fact crypto is a very bad way of laundering money, everything you do can be traced.

One can make crypto transactions private by using privacy tools like m*xers, conjoin, and other privacy tools. This is why the government is attacking m*xers and other decentralized platforms. However this is not an avenue to use these tools for illegal activities.

How is my topic not matching? That I am telling people either from rich home or not to abstain from illegal activities and instead they should learn a skill atleast to start making money, how is this not matching?  

For someone who is into drug trafficking and other illegal things, how is telling them to learn a skill instead not making sense? When you have your kids teach them how to pass drugs around and see what happens.

Maybe you should read the whole content again.

The example you gave doesn't match the message you were trying to pass across. You don't expect an heir to a multi-billion-dollar company to be learning a skill. Many of them are trained to take over businesses or engage in non-profit organizations. He was not involved in crime because he lacked money but because he wanted more money. The advice to learn a skill should be for low or middle-income earners who need alternative sources of income.