Re: Spain – busted - Crypto ATMs used to launder narco money on a large scale
Well thats a blown investment opportunity...
The owner of that ATM, my god! 100k daily volume?
I've looked into the Bitcoin ATM's and if Spain is similar to the States, then I'm sure those Fees aren't super cheap like a traditional atm.
Some ATM's charge 10-15% the transaction. On a low end, that owner was pulling in north of $10k daily just from fees!
Man, I need to get into that bitcoin ATM buisness and set a few up on the Mexico boarder
I bet my money on the operator knowing about the money laundering.
Let's be serious, who is laundering money at a 7% fee, tx fee, again BTC > fiat fee.
At this cost, it's better to set actually pay taxes
(yeah, probably its drug money but still...)
Na, watch some movies. Depending on how much your looking to Wash - these guys will pay upwards of 20-30%.
You have to figure that 100% of the money is Dirty and is basically worthless unless washed.
Getting in at 7% sounds like a killer deal for these Narco guys. No-wonder they were putting in millions
The owner of that ATM, my god! 100k daily volume?
I've looked into the Bitcoin ATM's and if Spain is similar to the States, then I'm sure those Fees aren't super cheap like a traditional atm.
Some ATM's charge 10-15% the transaction. On a low end, that owner was pulling in north of $10k daily just from fees!
Man, I need to get into that bitcoin ATM buisness and set a few up on the Mexico boarder
I bet my money on the operator knowing about the money laundering.
Let's be serious, who is laundering money at a 7% fee, tx fee, again BTC > fiat fee.
At this cost, it's better to set actually pay taxes
(yeah, probably its drug money but still...)Na, watch some movies. Depending on how much your looking to Wash - these guys will pay upwards of 20-30%.
You have to figure that 100% of the money is Dirty and is basically worthless unless washed.
Getting in at 7% sounds like a killer deal for these Narco guys. No-wonder they were putting in millions