Sorry for the uneducated question here, but I've wondered how those who steal crypto-currency "launder?" their ill-gotten coin. More specifically, how do they not get caught since the blockchain records everything? Take it out really quickly? Move little bits around to obscure ownership in some kind of shell game? Am I just totally off-base with my understanding?
That works, but you can also just deposit to an exchange/service, withdraw on another chain (i.e. btc -> eth) and repeat this a few times. Unless there's a large target on your back, even doing this once will effectively destroy any paper trail - especially if it's an offshore exchange that uses subpoenas for toilet paper (most of them?).
