Who am I?
Hello everybody on the darknet. I refer to myself as the DNM-Accountant. I have an education in accounting and numerous years of work experience in the field, which is still ongoing. A little over a year ago I started getting a big interest in cryptocurrency and by this also found an interest in the darknet and the darknetmarkets.
In my years of working as an accountant I have seen and participated in a series of money laundering, tax evasion, "tax optimization", as we would call it, and generally the whole range of getting around the systems. I do not have any problems with being immoral or unethical. We live in a world where you cannot become anything if you do. I also do not judge drug users or dealers as I myself have used drugs to some extent and continue to do so.
Researching about cryptocurrency and the darknetmarkets made me realize the problems that would arise for vendors, market admins and the like when they would like to convert their hard earned bitcoins into fiat to spend on their daily needs. The principles for laundering bitcoins into clean fiat are not entirely different from what a big real life drug dealer or another person interested in laundering money would do, but there are extra measures to account and look out for to help you stay anonymous and not getting caught in the act.
This leads me to the part where about a year of researching, getting the whole laundering operation set up as well as countless trial and error has finally come to an end where I can say that it is working like I want it to.
So What Do I Do?
I am starting out with the basics. This first post of mine, titled part 1, will hold my thoughts for the laundering issue for smaller vendors or people with a smaller amount of bitcoins. If this is appeciated I will continue writing more parts for other sizes of vendors. There should be something for everyone. I can tell you that I have about a dozen of customers using my own service that I have created or paid me to help them with setting up their own so they would handle it themselves and improve their own OPSEC thus removing any middleman and need for trust.
These methods/options/operations are not completely and thoroughly explained. If I did I would not have any business and to be frank these methods would get abused by sloppy people who would ruin it for the rest. These are merely to give you a grasp of laundering and what it takes as well as giving you some hints and understanding on the subject.
Before going into more detail of the methods and options I would like to just give you a general understanding of some of the term that I will be using. All these terms might not be used in this part, but remember them, learn them and use them.
The Terms Used | Meaning of the Terms |
---|---|
Smurfs | Low-level guy used for some of the dirty work - No questions asked as long as they get paid |
OBA | Offshore Bank Account - Bank account set up in countries with bank secrecy laws and possibly numbered account for anonymity |
Layering | Basically moving and obscuring the money as much as possible. You can compare it to tumbling pretty much |
Integration | The part where the layered money now enters into a regular flow to seem clean and ready to be spend |
Laundering for a small vendor
So now that we covered the ground work let us get into this.
As this is for smaller vendors and lower amounts this method also has the least layering and therefore it is more likely to get caught. It is though then also a lot easier and probably what most of you would think of doing first. I am also very sure many vendors do this on their own.
So you have made your first sales on a market and the bitcoins are starting to come in. You are ready to make your first withdrawal to get some of your hard earned money out.
First off, make your withdrawal to a wallet where you own the key and that is not linked to your real identity. If you are using Tails, Electrum on Tails is perfect for this. Preferably use a wallet which connection is over the Tor network.
Now that the bitcoins are in your possesion it is time to get to the layering. I strongly suggest that you now tumble these bitcoins. You do not want any taint what so ever between the withdrawal from the market and the future steps where you real name might get involved. People discuss if it is necessary for buyers to tumble before a purchase, but I would say it is an absolute necessity for vendors to tumble their bitcoins before moving on from here. I will not suggest a tumbling service as this might seem as advertisement. I have tried many of the oftentimes talked about tumblers and have myself had no problems so far.
When you have tumbled your bitcoins be sure to not only spread the withdrawals from the tumbler to different addresses but also different wallets on different devices. Using smurfs here that are trustable is also a very good idea. You want to add in as much layering as you can.
Now after you have done your preferred amount of layering we are moving closing to the integration. Now, some of you might just need clean bitcoins for your future purposes but most smaller vendors will need fiat to pay for their daily life. I suggest you now start integration the bitcoins into the normal bitcoin economy. You may start selling amounts on a variety of localbitcoin-accounts for cash-in-person, bank deposits and so. Using smurfs here is also a very good idea as it reduces the amounts you will transact and therefore keeping your risk lower and yourself more under the radar. The thing to really watch out for here is especially exceeding transaction amounts that will trigger financial institutions in your country to question you. If you deal with too big of an amount you will be held accountable for the financial laws that you will have to comply with. You need to avoid this at any cost. There's also the possibility of your bank reporting you if you receive too big or too many cash deposits directly into your bank account. So keep it smart and use smurfs, different methods and such to stay ahead and stay clear.
Now with the cash in hand or money in your account you have layered your bitcoins into the ecosystem and integrated your fiat into the regular money flow. You are now free to spend your hard earned money on providing for yourself and your loved ones.
Is there more?
This is my part 1 for smaller vendors. If this is appreciated by the community and people see a use I will continue further with a part 2 and so on. Or if anyone have special requests let me know. I do not have much spare time to do this in as I am both very busy in my real life job as well as my job on the darknet, I only do this to try to give my share back to a community that has been helpful to me.
I will answer questions here in this post but due to the sensitivity on some parts of this subject I will be available to talk in private as well. You can PM me here on Reddit with questions or inquiries. I have provided my PGP for special sensitive matters where you will also find my email; should you wish to use it. I will also use this PGP to sign any future messages/announcements should I see it necessary.
Thank you for your time and be safe out there everyone. Your freedom is not worth jeopardizing.
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good post, quantik.