[PSA] Tips For Laundering Your Bitcoins; Part 1 - Small Vendors

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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Comments


[27 Points] PKHydro:

good post, quantik.


[20 Points] Pelican_Vendor:

You really did not tell us anything lol? All you said is tumble.

Or just go to a btc-e trade coins and lose/profit 1-2% then.... (i am not saying)


[14 Points] None:

No offense, but this is not really telling us anything new. Tumble your shit, then sell it at LBC or various marketplaces. Use smurfs if possible. I'd have thought this is common knowledge.


[8 Points] tokensue:

Nothing I couldn't find on the internet here . In fact googling money laundering gives better ideas than yours. Not knocking you (ok I am a bit) But any accountant that can really act as magician would not be giving his methods away on here.

Its like a carder tell everyone how to card. Why the fuck would you if you have a method that works.

As my old accountant once said.... "You don't find clients, they find you".

He is dead now got shot by the Mafia. I guess he was right.. they did find him.


[6 Points] jaug1337:

Well written. People can complain all they want, but the masses and new comers need this to get started.

Great stuff bro.


[4 Points] YeOldeShoppe2:

What about what you do is immoral or unethical? The government is immoral by nature and is the one forcing us at gunpoint to give them a significant portion of what we earn and/or trying to imprison us for the voluntary exchanges that we earn a profit from (or murdering us for trying to prevent them from doing so). What we do to survive under such conditions I don't believe could be considered immoral or unethical.


[3 Points] None:

I give you 40 million dollars & all you give me is this little book!!!!!


[3 Points] None:

Where I live there are loads of Chinese shops that are never open, have nothing inside and have a few handwritten signs on the window in Chinese trying to sell flights and holidays - except they are never open. Can only guess they're laundering money through them.


[2 Points] None:

Great food for thought, thanks! I mean, its vague enough so you don't spoil out the fun for the pigs nor vendors, but for the average shitposter like me, its pretty intriguing. Gives more oversight on all the stuff that has to be worked on so people like me can order acid to his home.


[2 Points] None:

Great post mate.. Many people here are top level professional launderers hating on a greatly summarized post.

Its easy to throw crap at those providing stuff without adding anything beyond " you suck op"

Its not the what that is needed but the how.


[2 Points] BahWhatever666:

Plot twist: Everyone that says you're LE are LE


[1 Points] jbdfjbasjdasf999:

Posts like this SCREAM LE or informant.

I've watched many markets get infiltrated over the last decade or so. Prior to TOR, back when we used western union and egold before there was Bitcoin.

Every long, seemingly 'well thought out' post was just turned out to be disinformation/bait from law enforcement trolling for information.

I'd wager to say there are more COPS here than there are actual DNM buyers.


[1 Points] billy5x5:

This is why I refrain from giving any laundering advice, most of the classic shit you see in movies are not useful in the real world anymore.

It's more having an overall legitimate source for your money than "not raising suspicion to banks", most non-smalltime people have some laundering scheme for their money and trust me, they have no interest sharing it on this subreddit. I'm sorry mate, but your education won't make you a Saul Goodman, actual experience will.

Sorry to be a downer, but the ones successful at laundering are not going to give out meaningful info.


[1 Points] Purpledominoes:

Hello FBI.


[1 Points] GNAR-TheBarGoblin:

What's with the PGP key lol?


[1 Points] TripAddict:

[deleted]


[1 Points] None:

what is small vendor 10k or less in a month?


[1 Points] crystaldust:

what is a small vendor ? what size transaction would cause problems ? what is this about oba ( off shore bank accounts ) you didn't say anything about them. i understand the need to be vague, but your so vague your not giving out any information. your advice is to tumble and have someone else cash out for you with small transactions ? lets say i am vendor that wants to do off shore banking. do i have to file (fbar) if i have a off shore bank account with more than 10k dollars in it ? transactions over 10k made out side of my country are exempt from filing form (8300) and if my foreign account holdings are in and IRA they are exempt from filing (fbar).

so if i keep the transactions foreign and within the maximum limits of an IRA, would i have tax free money for my retirement that is exempt from investigation ? then if i wanted to use it, couldn't i just roll over the IRA to a domestic self employment 401k and borrow 50% off the 401k for business.personal expenses, or take a 10% hit, early withdraw and pay some income taxes ?

i'm not a banker, accountant, attorney, or vendor but i do know a bank or person has to file a (8300) for a transaction over 10k or a multiple of related transactions totally over 10k. having more than 10k in a bank account isn't suspicious but a file still gets made. would you suggest a small vendor to keep his account size under 10k and to not withdraw cash immediately after each coin transaction ? maybe spread the coin transactions to multiple bank accounts and withdraw cash when the accounts get close to 10k then buy gold and bury it ? sorry you are really vague, and I'm asking these simple questions for other people not myself.


[1 Points] Cents_of_Common:

I do not have anything important to add, but I would like to voice my appreciation for OP's work. It is a good read and I look forward to your future posts.


[1 Points] None:

Layering to multiple wallets after tumbling huh, ok i will try that - thanks for the info.


[1 Points] Fiach_Dubh:

thoughts on monero?


[1 Points] Shill_Bill:

All the heaters can fuck off this is the mans busy season! Cpa in training ;)


[1 Points] lordredvampire:

Interesting. For buyers, just use TOR or VPN over TOR - you will be fine. Small time vendors, or big time vendors should use TOR/VPN or TOR in conjunction with tumbler like JoinCoin (aka JoinMarket).

All good?


[1 Points] syadasti:

Dunno if this is welcome here, but...

My bitlaundry.com is the oldest tumbler/mixer around, and I recently slashed the base fee to 0.49%.


[1 Points] Nabukadnezar:

Why do you need to use "Tails, Electrum on Tails" when receiving? It's like your IP gets leaked in the process.


[1 Points] octomarvel:

No car wash?!?!!

=,(


[1 Points] hilltopbandaids:

Lol smurfs for bitcoin...That is the purpose of tumbling. Sending bitcoin to your friends to get them to send them to you is pretty damn dumb. Sounds like a great way to lose friends and bitcoin.


[0 Points] laughatthsispriclk:

we laundered 200 million and didnt need or to post a guide