Planet Money How to launder $600 million on the internet
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Sep 16, 2023 Join Erin Plante, a private detective and cryptocurrency recovery expert at Chainalysis, as she unravels the thrilling tale of the $600 million Axie Infinity heist. Erin dives into the challenges of chasing down digital criminals and shares the innovative investigative techniques used to track stolen funds. Discover how North Korean hackers were involved and the cultural clashes faced by the FBI in tackling these crimes. Through humor and cutting-edge methods, Erin sheds light on the complex world of crypto laundering and the stakes at play.
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From Bribery to Bitcoin
- Erin Plante specializes in tracing stolen cryptocurrency, working alongside law enforcement.
- Her background involves traditional financial crime investigations, even requiring undercover work.
Crypto's Double-Edged Sword
- Cryptocurrency's transparency makes every transaction visible on the blockchain.
- Criminals exploit this by using mixers to scramble funds and obscure transaction trails.
Tracing the Heist
- Erin Plante used a blockchain visualization tool, similar to a murder board, to track the stolen funds.
- The hackers' methodical movements and use of mixers like Tornado Cash raised red flags.