159 sats \ 4 replies \ @siggy47 21 Nov 2022 \ on: Ethereum Plunges 7% As FTX Accounts Drainer Dumps ETH for Bitcoin - Decrypt bitcoin
Interesting that this guy swapped his wrapped bitcoin for real bitcoin. I wonder what his next move will be. An atomic swap into monero?
I'd imagine coinjoin the hell out of it...
reply
Does monero have the liquidity to absorb all that price action and still keep him anon? If privacy is about hiding in a crowd, monero seems like a small crowd. Maybe he'd be better off with a coinjoin (of multiple coinjoin pools) into a submarine swap on lightning. Taking into consideration denominations and all that of course. Then probably sell for cash or gold on the p2p market.
That all being said, with a big enough amount of money, no technique will keep you safe. If the IRS sees lots of new fancy toys, they're gonna swarm every aspect of your life with investigators.
reply
Yep. The hacker alledgedly made off with something to the tune of $500m, while Monero's marketcap is only about x5 this lol
If I were the hacker, I'd just leave the stolen funds sitting in Bitcoin for now. It will be safer to move the funds in future when the network has grown more: P2P circular economies, larger CJ pools, better Lightning liquidity and privacy, etc.
reply
Being out of ethereum gives him a whole world of options, ethereum is a privacy hell
reply