Thoughts on this dark setup ?

[buxhzk]

This is inspired from @blueweb 's excellent post in this forum.

I am currently in India.
Setup I have in mind is.

1. Find Indians who are not that literate (as in.. many dont even know to read English much)
2. Pay them $50
3. Make them signup for UK LLP
4. Get TW & Stripe with the new UK LLP using their real passport and documents.
5. Setup Crypto wallets in their name.
6. Do video verification with their real face.
7. IP block and protect accounts.

Number of jobless adults are skyrocketing due to Covid, people will do all this for $50.

Question :
1. Is there any issues you see with this dark setup ?

2. Instead of UK LLP , Would it be good to go for a US LLC. ?
USA won't share information back to India as India tax systems are not secure. Since the LLC is alien owned and has 0 employees or offices in US , it won't be taxed in US.

3. Instead of UK LLP , is there any other alternate LLCs/IBCs you can recommend for this setup.?

Last edited: Sep 25, 2020

 

[JustAnotherNomad]

How will you get the money out of the company? You're planning to pay yourself in crypto? I'm not sure how anonymous that really is, but I also don't know much about it.

 

[buxhzk]

I plan to keep it in the guys transferwise / mercury
and I will invoice this company from my end only when I have need for money.
I make approx $200k a year. Not more than that.

 

[JustAnotherNomad]

That's a big risk. If for whatever reason they get suspicious or AML regulation becomes more strict, they might ask for additional verification. And if you can't give that, they will freeze your money. People even experience such issues with completely legitimate businesses without darks. EMIs aren't a good place for storing money, even less so with darks.
And when you invoice it, you are creating a connection and thus a risk of being caught.
But that's me, maybe others feel different about this.

 

[buxhzk]

JustAnotherNomad said:
That's a big risk. If for whatever reason they get suspicious or AML regulation becomes more strict, they might ask for additional verification. And if you can't give that, they will freeze your money. People even experience such issues with completely legitimate businesses without darks. EMIs aren't a good place for storing money, even less so with darks.
And when you invoice it, you are creating a connection and thus a risk of being caught.
But that's me, maybe others feel different about this.
Click to expand...

Thanks
This makes sense.
I am researching ways to take money out.
If I take it to my banks then I am tax liable.
I don't want tax liability

 

[bronze]

Set up the llc as you suggest, set up transfer wise etc
But take the cash out regularly via crypto to a samurai wallet

Run it thru the mixer

Send it to your own kraken and sell to a advcash in your name or put it into wirex and use card

 

[buxhzk]

Thanks for the excellent suggestion.

bronze said:
Run it thru the mixer
Click to expand...

I am not very knowledgeable on crypto space.
What is "mixer" ?
From my google search , I think you are refering to whirlpool system which breaks the trial coins leave behind .
Can you correct me if I am wrong.

Thanks

 

[bronze]

buxhzk said:
Thanks for the excellent suggestion.


I am not very knowledgeable on crypto space.
What is "mixer" ?
From my google search , I think you are refering to whirlpool system which breaks the trial coins leave behind .
Can you correct me if I am wrong.

Thanks
Click to expand...

Yep you are correct, samurai wallet, then it goes into its whirlpool, then get a hardware wallet and connect it via mycelium wallet

 

[otcable]

All the crypto laundering makes no sense, no offense.

Mixers are popular for people getting paid from dark web markets because those are the ones marked. If you are buying on p2p or exchanges crypto is not traced/marked.


IF you still feel like you want to take that extra step, deposit on your favorite exchange, and withdraw from it.

 

[sergiog]

attetion, btc mixers are useless!!! If you really want to mix coins do it like that BTC -> XMR -> ETH -> DASH -> BTC -> XMR - BTC - > fiat , only paranoia can keep you safe.

 

[otcable]

sergiog said:
attetion, btc mixers are useless!!! If you really want to mix coins do it like that BTC -> XMR -> ETH -> DASH -> BTC -> XMR - BTC - > fiat , only paranoia can keep you safe.
Click to expand...

By not understanding how they work you are giving bad advice.
Your intention is correct, but your method is not. Paranoia is not your friend, never.

 

[sergiog]

if you want to avoid crypto analysis is the only way. when is about crypto mixing is better to use paranoia.
edit: bad advices are BTC mixers, analysis can trace your BTC within minutes.

 

[JohnLocke]

sergiog said:
edit: bad advices are BTC mixers, analysis can trace your BTC within minutes.
Click to expand...

Do you know if any of such tools which may be available for normal people for a reasonable fee?

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[sergiog]

one of them is CoinTracking · Bitcoin & Digital Currency Portfolio/Tax Reporting

 

[sergiog]

The Blockchain Analysis Company - Chainalysis works only with Companies, Law Enforcement and similar but at this time they are the best coin-tracker around.

 

[Sols]

https://beta.sam.gov/opp/3b7875d5236b47f6a77f64c19251af60/view?index=opp
The IRS is stepping up efforts trace cryptocurrencies specifically going after for example Monero. Others are doing the same and once tax authorities know how to do it, (other) law enforcement will follow.

Toggle signature
This is the probably the answer to your question.

 

[sergiog]

Sols said:
https://beta.sam.gov/opp/3b7875d5236b47f6a77f64c19251af60/view?index=opp
The IRS is stepping up efforts trace cryptocurrencies specifically going after for example Monero. Others are doing the same and once tax authorities know how to do it, (other) law enforcement will follow.
Click to expand...

thats the reason why I used XMR and DASH , XMR was used twice for better privacy as DASH is not 100% private

 

[otcable]

Look @sergiog, I will explain for you to understand that what you say makes no sense. So please, stop and think, so you can understand what you need.

Trading on an Exchange does not mix your coins. You could keep going from A > Z as much as you want. Exchanges are software that matches orders on a database. Coins don't go from your hand into someone else's hand. They wait on a wallet until they are withdrawn.

If you really want to avoid an exchange then you could do what is called an "atomic swap", but that is beyond this post.

 

[happyjohn]

buxhzk said:
1. Is there any issues you see with this dark setup ?
Click to expand...

If you can find someone that is willing to to the KYC, here I thinking of homeless people, then this is safe.

There is really nothing that will stop you unless the bank, EMI or other instance will request additional documents and the homeless guys is vanished.

I have several of such setups running, doing business across all entities and finally get the money out in countries where it's easy.

 

[loccu]

happyjohn said:
If you can find someone that is willing to to the KYC, here I thinking of homeless people, then this is safe.

There is really nothing that will stop you unless the bank, EMI or other instance will request additional documents and the homeless guys is vanished.

I have several of such setups running, doing business across all entities and finally get the money out in countries where it's easy.
Click to expand...

How do you manage to get the money out in the countries untracked? (Which country?) Would appreceate your toughts!