So as some of you can tell its a serious question how viable an option is steemit for money laundering.
Possible ways steemit can be used to money launder or be used for malicious means.
Scenario one:
- Hacker hacks exchange send coins to a coin mixers then send coins to steemit.
- Hacker buys power and set up a bunch of farming mules.
- Hacker then post legit looking post or pays users on other end to post.
- Hacker gets paid out while he is slowly powering down and receiving from other accounts.
- Hacker cashes out his/her steem to another exchange for btc and send to coin mixer again.
- Hacker gets his funds and got away with it.
As you can tell its a lot of trouble to go through but this network can be used for bad.
Scenario two:
- Terrorist Wants to plan an attack gets money together not worried about short term.
- Terrorist Has already clean btc wants to hide transfers to people on the other side.
- Terrorist Buys steempower and has people make accounts to farm funds and trend.
- Terrorist Now has started getting funds from other users because the post is trending.
- Terrorist Starts his end game cashing out as he farms it in small amounts and holds funds.
- Terrorist Now has the means an was hidden transferring funds for what ever they needed.
There is plenty of other methods that we have found that can be abused on this network that can have users unknowingly fund terrorist activities or helping hacker get away with what their end goal is. Yes there is the argument that they can do it better ways then this. The issue here is that it's an option that should be discussed.
In your opinion should account tracking be added to the site to say if an account is someone alt account to prevent such things happening on this wonderful network. Last thing anyone want's is to wake up and find out they helped fund a terrorist origination or anything bad in general.