Caution! Dirty bitcoin and what to do with it

bitcoin-dirtCryptocurrency based on blockchain technology, including Bitcoin, has many advantages. It is an independent method of transferring value with low commissions and fast transactions independent of any government, while cryptocurrency is easy to share to millionths without losing its value. All these statements were true until the cryptocurrency did not become so popular that in some countries it became recognized as legal tender or electronic asset. From this point on, due to the blockchain's openness of some cryptocurrencies (Bitcoin, Ethereum, Ripple and others), black lists of crypto wallet began to appear on which stolen cryptocarrency stored. Any cryptocurrency that passes through such wallets is automatically blacklisted, and then all its movements are tracked as they blacklip more and more crypto wallets. Cryptocurrency stored on such wallets automatically becomes outlawed and at this moment the cost of such a “dirty” cryptocarrency starts to fall sharply, because buying and cashing a dirty bitcoin or ethereum in your own name of  will automatically make you at least a witness of a theft or worse yet an accomplice in a crime.

Discount on the purchase of "illuminated" Bitcoin in black markets can reach several tens of percent, depending on the volume of purchase. And buyers for such a product is also not small, especially from countries where cryptocurrencies do not have legal force. These countries include Russia and most of the CIS countries, i.e. buyers of cryptocurrency in the CIS countries have a great chance to buy just such a dirty bitcoin, but at the market price.

As long as this bitcoin is circulating inside the country or countries that do not recognize the cryptocurrency at the moment, you will not face any responsibility for the use of stolen cryptocurrency. Here we mean the use of unregistered exchanges, exchangers or private exchanges.

But everything changes dramatically if you try to make a deposit on a registered exchange, which works in accordance with the law of the country where a criminal case has been opened into the theft of a cryptocurrency, which you will actually "wash" under your name on the stock exchange, exchanger or in the store. At best, your account will be blocked with the requirement to provide information about the origin of this cryptocurrency. In this case, to prove his innocence will be extremely problematic. In fact, with 100% probability you can lose all of the cryptocurrency on your stock exchange account when you try to deposit from a black list crypto wallet. And this situation is not so rare, because on thematic forums almost always appear similar topics. Most of these restrictions are faced by users of crypto exchange registration in the United States and Japan.

The amount of dirty cryptocurrency is large enough to ignore this possibility. For example, more than 780,000 bitcoins were stolen from only one MTGOX exchange, with a current turnover of 17 million, this is 4.5% of all bitcoins.

At the same time, it is not possible to track all prohibited crypto wallet on your own, especially since when you buy a cryptocurrency through the exchanger you are not given the choice from which wallet you will be transferred.

The only reliable way to somehow protect yourself from getting all your “clean” cryptocurrency in the black list from transferring to it stolen cryptocurrency is to have two different wallets. One wallet for proven cryptocurrency (registered exchanges, exchangers, mining), because they can provide any documents if a similar situation happens. The second wallet for storing cryptocurrencies from unreliable sources, which include all exchangers from the popular site bestchange.com, little-known exchanges and buying from private individuals.

In this case, if your second wallet gets blacklisted, you will still be able to use your first wallet with a clean history for operations on major exchanges and buying goods in online services and stores.


As we have said, the purchase of stolen cryptocurrency will not lead you automatically to the dock, but in any case you should avoid such situations, knowing that cryptocurrency can be with a criminal past.