Submitted by [deleted] t3_z5xwqv in explainlikeimfive
Idiot_Esq t1_ixyggc1 wrote
Legal word of the day: Fungible - Commercially interchangeable with other property of the same kind. In other words, you put dirty money with clean money, do a few transactions (wash it) and then take out the now clean money. Usually in small amounts. Perhaps the most recent example of this was the Ilya Lichtenstein and Heather Morgan theft of billions of dollars worth of bitcoins back in the 20teens. Might also apply to the current fiasco with FTX.
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