this post was submitted on 22 Aug 2024
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Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse (arstechnica.com)
submitted 3 months ago by Xatolos@reddthat.com to c/technology@lemmy.world
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[โ€“] orrk@lemmy.world 10 points 3 months ago (1 children)

to be fair, buying drugs or untraceable money transfers are totally a use case of crypto (basically everything that is illegal)

[โ€“] dan@upvote.au 2 points 3 months ago* (last edited 3 months ago)

untraceable money transfers

Crypto is very traceable though - every transaction that has ever happened is in a public ledger!

There's usually a transfer to or from fiat currency at some point, and there's been several cases where Bitcoin transfers have been traced to a real person using that.