Komal Joshi · Oct 24, 2020 . 6min read
Darknet Operator and Pharmacist Laundered Money using Bitcoin
Wilson and his Darknet co-conspirator laundered their proceeds using Bitcoin cryptocurrency payments.
By Victor Ugochukwu · Jul 15, 2020 . 5min read
The Department of Justice charges a Darknet operator and pharmacist for firebomb attack who laundered money using bitcoin and other wire transfers. They both pleaded guilty to the charge and will be facing a maximum penalty of 20 years in prison.
United States Department of Justice published that Wilson, a pharmacist worked together with Burgamy, a Darknet operator. They plotted a firebomb attack targeted at Wilson’s competitor in Nebraska but were promptly discovered and stopped by law enforcement.
Speaking on the issue, G. Zachary Terwilliger, U.S. Attorney for the Eastern District of Virginia said
“Burgamy and Wilson carefully plotted a violent attack operation involving explosives, firearms, the Darknet, prescription opioid trafficking, cryptocurrency, and sophisticated money laundering,”G. Zachary Terwilliger
Burgamy who confessed to illegally selling prescription drugs through his Darknet vendor account did so to customers across the United States. He claimed he made nearly as much as $1 million in his transactions.
Further on his confessions, Wilson and Burgamy, his Darknet co-conspirator laundered their proceeds using Bitcoin cryptocurrency payments. They also used wire transfers as well as bundles of cash sent through mail.
We will get you if you launder money using bitcoin or other forms
James A. Dawson, Special Agent in Charge of the FBI Washington Field Office’s Criminal Division speaking for the DOJ also said:
“Burgamy and Wilson put thousands of illegal opioids in the hands of people across the country and their brazen and violent plot could have had deadly consequences. The selling of illicit drugs on the Darknet will not be tolerated. No matter where these criminals try to hide, the FBI will work to bring them to justice and protect our communities.”James Dawson
Reading James’ statement, Darknet operators are puts on notice. As a Darknet operator, if you think of Bitcoin as a safe haven for money laundering, think otherwise. This is clearly what James is saying. The FBI and other relevant agencies work with crypto tracers. They also work with other investigative firms as well. They do this to help analyse and uncover illicit funds which seeks to escape their radar from the Darknet. Chainalysis which recently secured $13 million in a Series B funding round is one of such firms.
Billion-dollar blockchains including Bitcoin forks, Tezos and Ripple only reported less than $1,500 transaction fees combined
Atleast 7 among other blockchains it reports in terms of fees worth a combined $25 billion only generated less than $1,500 in transaction fees.
Victor Ugochukwu · Oct 22, 2020 . 6min read