Privacy Coin, Monero, “Cracked” (But Not Really)
TL;DR
Full Story
There was a declare earlier this week that the Finnish Bureau of Investigation (KRP) had been in a position to crack the privateness of 1 cryptocurrency particularly.
At first, this sounds fairly attention-grabbing.
However in digging a little bit additional we discovered this assertion to be kinda click-batey, and we’re gonna peel again some layers to grasp what’s actually occurring right here.
The declare from the KRP was pointed at Monero (a privateness coin).
Privateness cash are the crypto equal of paying in money – simply pretty much as good as a bank card, however untraceable. Within the crypto area should you pay with a privateness coin like Monero — your pockets tackle and transaction will all be withheld from the general public eye.
Which is cool, however these cash get a whole lot of shade as a result of (very like money), criminals love to make use of them to transact.
The following layer:
The KRP was trying into these transactions as a result of mentioned criminals (☝️) had an inclination to take bribery funds by Monero.
(So determining the way to hint these funds can be a enormous unlock of their investigation).
Final Layer:
It’s a click-batey headline as a result of the KRP didn’t truly crack the privateness of Monero.
As an alternative, they watched when/the place Monero was being exchanged for Bitcoin (a really publicly traceable coin), and related the dots between identified Bitcoin pockets addresses.
Et Voila, privateness coin “cracked.”
