Read this fascinating
story of a young bitcoin fellow named Jimmy who stole from silk road. The site happened to have a glitch and Jimmy withdrew 50,000 btc. The owner of silk road contacted him when it appeared to him, that 50k btc disappeared from his wallet due to the glitch, but Jimmy afforded him no help. Later, Jimmy transferred $800 to a KYC enabled exchange, and the cops were able to link it back to the stolen 50,000btc from silk road. How possible is this?
Blockchain network is actually a technology that attaches great importance to privacy and contributes to transfers with user privacy but unfortunately since it is regulated in some way today it has become very difficult to make completely anonymous transfers. In this case, Jimmy submitted his identity and therefore his personal information to a centralized exchange service and after tracking the cryptocurrency wallet address to which he made the transfer, the person disclosed his identity. Although blockchain technology is privacy-oriented, unfortunately, when a centralized institution learns who owns the wallet address it is very easy to disclose that person.
The main mistake here arises from the fact that Jimmy carries out transfers and transactions through a centralized exchange where he provides his credentials. At this point, the person has disclosed his own identity and personality due to the involvement of a centralized financial institution.
