Dirty 5,870,000 USDT: an Interview with a Man Who Earns More from Crypto Than He Launders through Shady Schemes and Scams

Meeting place: Cyprus, Limassol. A cafe where they serve “a good Irish Frappe” – for an interesting conversation.

He enters silently, a little late, wearing a classic T-shirt, sneakers, and a regular gray jacket. He sits down and orders a double Irish Frappe on the rocks – his English is impeccable, with a slight London accent. At first glance, he is one of the thousands of IT specialists who moved to Cyprus in search of sun and low taxes. But after 5 minutes, it becomes clear that this smile hides incredible schemes Hollywood would write a movie script for.

– Call me Peter, – he says calmly. – It’s not my name. But I like it.

– So, Peter. What do you do?

He looks out the window and takes a sip.

– Cryptocurrency laundering. Since 2021.

– Just like that? Are you serious?

– Absolutely. Didn’t you invite me to this interview to hear the truth? Here in Cyprus, it’s not a crime yet. And in the US, they might already be waiting for me. (He smiles.)

From a Designer to a “Launderer”

Peter is a former graphic designer based in London. The man also used to work remotely for various advertising agencies around Europe. He never dreamed of millions but wanted stability and a Porsche 911 Turbo S.

– I was, you know, one of those “freelancers forever.” I slept for 6 hours, made landing pages and logos, and struggled with deadlines, exchange rates, time zones, and various payment systems when I couldn’t get money for my work from other countries. I was looking for solutions. And in 2020, they ordered me to “package” a crypto project. That was my first memecoin. That was how I learned how much the emotion of joy, happiness, euphoria, and thousands of regrets was worth.

– So, that was when you created your first coin?

– Yes, but not right away. First, I completed the order. Then, those guys contacted me a second and a third time. On the 4th order, I started to analyze what they were doing. Well, if someone ordered that, there were people who would pay for that. I studied the memecoin market and various crypto coins. I first heard about crypto in 2014 but never delved into it. However, the time has come when the whole world knows what it is.

On the 6th or 7th order, my client offered to make designs for their regular new projects. I immediately thought about how they could launch those numerous projects, how they created those coins, and who bought them. I started watching YouTube.

And he who seeks always finds. The main thing is desire. All the information is freely available.

2 weeks later, I launched my memecoin together with my two friends. We spent $1700. We made a website, hired micro-influencers to push a couple of reviews on YouTube, created a memecoin on pump.fun in 5 minutes – and that’s it. In 4 hours, our coin grew 11 times. It was very exciting.

The following day, our token jumped x44. Our euphoria and adrenaline were at the limit. In less than 24 hours! It was fantastic! The easiest money in my life! Oh, I felt like God. I could use my energy to cause an earthquake in the whole world. It was even a little scary because my emotions got out of control. I laughed, cried, choked with high heart rate, and punched the wall with my fists. My body seemed to become uncontrollable, with chaotic movements. It all lasted for 3 days until I passed out.

When we woke up, we saw that our coin dropped by 40%. It was a lot, and not all coins survive such a drop. They often cascade down to almost zero and never recover.

The team decided to immediately buy ads from bloggers, pump up the memecoin, and sell it to greedy newcomers. We hired about 40-45 crypto bloggers on YouTube and X. We paid everyone what they said without bargaining.

In a week, we earned a hard-to-imaginable sum: $5,870,000.

At that time, Peter didn’t yet know how to withdraw crypto in such large volumes. One of his friends, who has been in crypto since 2017, found a very sophisticated way.

The Beginning of the Scheme: Money and Problems

– Those funds were “dirty” and clean like the tears of those to whom we sold our coins. Anyone who looked at the blockchain could see where the money came from and where it flowed, which was a big problem.

The team began to study how professional schemes evade tracking. They came across terms that became the solution for “quick” millionaires:

“Splitting,”

“Layering,”

“Investing in arbitrage.”

– At first, I was following Reddit and forums like Bitcointalk. Then, I found a Discord channel where some guys were discussing quantumdusk.com – how they monitor and catch the difference in rates. They not simply laundered money but got +3-6% on top. And I thought it was genius!

We solved one problem. But there was still another, more serious one: exchange limits and KYC verification. The guys couldn’t just deposit almost 6 million USDT on the exchange and withdraw it to bank cards or use P2P transactions on the black market. They didn’t want to lose money in case the banks would block the funds to clarify the circumstances. It was impossible to provide information about the origin of those funds. And they didn’t want to pay taxes.

How It All Works

– What solution did you find? Did you use many different exchanges and crypto wallets?

– Of course, we did. But first, we put our coins into crypto mixers and checked the purity of the wallet in Telegram bots for 1 USDT after withdrawing the money from the mixer. I had a Near Wallet on 1 of my phones – it allowed me to create at least 500-1000 wallets on one device. To register one wallet, I only needed a virtual SIM card. I linked it to a new Telegram account, created a new Near Wallet, and saved keys for wallet recovery. We set a cloud password, permanently logged out of the Telegram account, logged into a multi-wallet, and managed 600 wallets on one device.

We created an infrastructure. We split the money into $5-10K random amounts and sent them to different addresses. When we had clean USDT, we started running 20-70K USDT through exchanges without verification. It was like an additional mixer before withdrawing the money to cold Ledger wallets. But the main thing was crypto arbitrage.

Peter shows hiddenvertex.com opened on his phone. It’s an online monitoring of prices across multiple exchanges. This crypto scanner shows the discrepancy between prices using the exchange API and structures the data in a table: exchange fees, deviations, trading volume, network load, etc.

– Look! XRP on one exchange is $2.54, and on another – $2.59. It seems like pennies. But if you invest $20,000 – that’s + $393.7 in just 3-5 minutes.

– And the fee?

– Of course, there is a fee, and we used to consider every detail: deposit, withdrawal, and sale fees. But then, we realized there was no point in bothering with it because of our volumes and entered into deals where the difference between exchanges reached at least 2.2%. When the volatility is high, you can catch a valuable fork of about 6-9%. 10-13% happen less often when altcoins jump or fall by 10-30%. Look! Here’s another scanner (silentvaults.com) where I was lucky to catch an SUI signal of 5.9% this morning. These gifts of fate appear every day. You only need to be in the know 24\7\365.

Peter calls the waiter to repeat his double Irish on the rocks.

– Has this scheme always been so smooth and easy to use?

Fears and Mistakes

– Of course, it wasn’t always smooth. With so many wallets through which we transferred money, there were incidents when we lost $5K-10K. We lost them forever. We sent about 80,000 USDT to non-existent addresses. There were always human factors when copying addresses. But we were glad we sent small amounts instead of hundreds of thousands at once. The losses could have been much heavier.

One day, their team made a dangerous mistake. The guys exposed one of their multi-wallets due to an error in the money flow plan. They regularly changed the order of transactions for extra security. According to Peter, his partner mixed up the address – and as a result, the transaction went through an old account associated with buying ads from bloggers for pumping up coins. They had to run the amount through mixers, withdraw it in parts, and delete accounts on several exchanges whose wallets were exposed. They also lost about a hundred Near Wallets.

– It was scary. I spent almost 40 hours in the hotel without sleep. I monitored every transfer, deleted some accounts, and laundered crypto through mixers to hide our tracks. Although I treated it as a game, any mistake – and we could lose everything. And even more so in scams, where the price of a mistake is life.

– But you continue?

– What else should I do? I’m not a trader. I’m an architect of flows. And when you see that one step can bring you $10,000-20,000 a day, you realize that’s not just greed – it is freedom. I like this game. In one month, I can earn as much as most people will never earn in their entire lives. In this world, the impudent wins… a man with no moral principles, which, by the way, you can always compensate with some amount of money. We all have our price to cross over to the dark side.

Future Plans and Life in the Shadow

– You made me think about why people go to the dark side. I know that everyone has different reasons. But still, what’s next, Peter? Will you continue to be a gray cardinal? Or do you want fame, recognition, and power? It is the natural path of development and psychology of all of us.

– In this life, I am motivated only by money and 4 passports that give me freedom. And as you know, publicity is far from freedom and opportunity.

The wealthiest people who rule the world aren’t public. They rule everything from the shadow. Well, no. I like the dark side better.

We are currently preparing three new tokens. One of them concerns the topic of the US elections and is related to Trump’s impeachment. Another one deals with a fake AI in the entertainment industry. The third one is part of a rapidly changing website template affected by TikTok that spreads news at cosmic speed.

We create “stories” that people want to believe. The world doesn’t want the truth – it wants the context of a luxurious, fast, effortless life. And we give it to them.

But what makes me happy is that the “system” is not ready yet to find or at least classify us, technically and regulatory-wise.

– We’re working slower now. We’re not chasing millions. We’ve already made much more out of $5,870,000 since the arbitrage keeps working. Some people think crypto is a casino. For others, it’s trading. For me, it’s an endless flow of money from which you can take as much as you need if you have a bucket and brains.

No instrument can bring you more profit than crypto arbitrage, which has no risk at all, or hedging – simultaneously holding long and short positions on different exchanges. But to make money on funding and take your % from gambling addicts with leverage, you need cosmic turnover and verified accounts. So, it’s not for me or mere mortals with a couple of thousand on the balance.

Conclusion: Advice to the Naive

– What would you tell ordinary people who read this article?

Peter chuckles.

– Never invest in a coin advertised by a blogger, especially if the phrase begins with “I’ve already checked this project.” He has only checked the amount paid. (He smiles.)

If you see a token without logic, a command, or a whitepaper, immediately run away. Do you want to make money? Don’t chase the hype. Study conservative trading methods. Any schoolchild, if he studies the topic of crypto arbitrage and regularly monitors profitable deals on silentvaults.com, quantumdusk.com, hiddenvertex.com, etc., will buy his first BMW M5 by 18. All you need is available to you. The whole world is at your fingertips. Just because of their laziness, most people do not dig deep enough. Everyone wants to become a millionaire tomorrow without even using their brains. The responsibility partially lies on social networks, where people see a distorted world. It’s like a theatrical performance… a concert. But behind the scenes, it’s always different.

– But still. Aren’t you afraid of the consequences when the authorities find a way to regulate the cryptocurrency market and track wallets, transactions, and all identities?

He takes the last sip of his drink.

– Of course, I am. But I am careful. I don’t forcibly take someone else’s or promise you will get a fortune. I create demand through bloggers who are selling the dream. But while the SEC is chasing us, we are building the next infrastructure level and a pool to influence the memecoin market.

Peter gets up, leaves a 20 euro tip, and heads for the exit. He is calm and confident. He’s a man who has only a phone in his shorts pocket… a phone with hundreds of wallets, thousands of routes, and millions of dollars that the world has not yet learned to see.

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Editor’s note:

This article is for informational and entertaining purposes only. It is not an investment recommendation for buying or creating memecoins. It doesn’t advise or give instructions on illegal ways of earning money. All characters and events in the story are fictitious. Any resemblance to actual persons is purely coincidental.