• Alt coins

    Privacy in Crypto

    What makes projects like Monero and Zcash different from other networks?

    The controversy around these tokens Not everyone loves the idea of totally private transactions. Private crypto networks can be tools for criminals, money launderers, or darknet users to transfer funds anonymously. This Slate article from November about Monero is titled “The Bitcoin Competitor Beloved by the Alt-Right and Criminals”. Using networks like Monero is giving these types of groups complete anonymity. Naturally, governments are going to be mad at people making large anonymous transactions, it allows them to avoid taxes and commit crimes. In September of 2020, the IRS offered up to $625k for anyone who was able to crack the Monero network. The issue is, even if they find…

  • CipherTrace crack Monero privacy
    Cryptocurrencies,  Regulation

    CipherTrace: We’re closer to cracking Monero’s privacy

    The blockchain analytics firm claims two new patents will allow it to detect and track criminals using the leading privacy coin

    The Nov. 20 announcement covers a number of tools and methods that bring CipherTrace closer to being able to track Monero transactions—although not break the privacy of individual users, the firm stressed. CipherTrace said it has been working on those tools since early 2019, as part of a Department of Homeland Security project. The firm claims that the new developments have laid the groundwork for future tools “like entity transaction clustering, wallet identification, exchange attribution, and other functionality that will provide law enforcement with even more tools for investigating Monero transactions and addresses related to criminal activity.”

  • IRS Chainalysis Monero contract
    Alt coins,  Bitcoin,  Regulation,  United States

    IRS bets $1M Monero transactions are traceable

    The IRS decision to spend big bucks with Chainalysis and Integra FEC indicates that its criminal investigations division is eager to follow up its successes in tracking Bitcoin

    Crypto intelligence firm Chainalysis and the data analytics company Integra FEC will each receive an upfront payment of $500,000 so they can begin developing their proposed tool. America’s taxman said it was seeking “innovative solutions” for tracing XMR, as well as off-chain transactions conducted using Layer 2 scaling networks.

  • Zcash traceable
    Alt coins,  Technology

    Without a trace? Not Zcash, researchers warn

    It has been billed as a privacy coin boasting advanced cryptographic technology, but new research suggests these features are going unused

    A new study by Carnegie Mellon University has uncovered a huge problem with one of the biggest privacy coins… just 0.09% of Zcash transactions in a 30-day period were untraceable.