building a crypto criminal database

[desticy]

That's why I love blockchain. You can't hide anything, no matter how hard you try, no matter how much you want, the blockchain allows you to see everything. Even if you use a bitcoin mixer, everything is exactly possible to understand the original wallet.
I am not a supporter of de-anonization, however, given the youth of the crypto market, and how much it suffers from all kinds of scam, we probably have nothing but to create such a base to isolate dirty bitcoins. Although I doubt that there are no loopholes to launder them.

[pixie85]

That's why I love blockchain. You can't hide anything, no matter how hard you try, no matter how much you want, the blockchain allows you to see everything. Even if you use a bitcoin mixer, everything is exactly possible to understand the original wallet.
I am not a supporter of de-anonization, however, given the youth of the crypto market, and how much it suffers from all kinds of scam, we probably have nothing but to create such a base to isolate dirty bitcoins. Although I doubt that there are no loopholes to launder them.

And some people still think that it's an anonymous currency for online drug dealers and hackers. The ignorance and stupidity have no boundaries.

Of course you can launder money through cryptocurrencies but with Bitcoin it's quite difficult especially with the KYC procedures on almost every single exchange. You can make up credentials, get fake IDs but all of it leaves a trace that can be later used to get you. You're only safe if you find a way to exchange coins anonymously. No amount of mixing can save you if they really want to get you.

[target]

I'd be very interested to know how they could track criminals using the blockchain though. We are already a regulated market and so they could get access if Uppsala Security will be considered by authorities. The number of criminals increases as we get more users on board in crypto.

That's why I love blockchain. You can't hide anything, no matter how hard you try, no matter how much you want, the blockchain allows you to see everything. Even if you use a bitcoin mixer, everything is exactly possible to understand the original wallet.
I am not a supporter of de-anonization, however, given the youth of the crypto market, and how much it suffers from all kinds of scam, we probably have nothing but to create such a base to isolate dirty bitcoins. Although I doubt that there are no loopholes to launder them.

And some people still think that it's an anonymous currency for online drug dealers and hackers. The ignorance and stupidity have no boundaries.

Of course you can launder money through cryptocurrencies but with Bitcoin it's quite difficult especially with the KYC procedures on almost every single exchange. You can make up credentials, get fake IDs but all of it leaves a trace that can be later used to get you. You're only safe if you find a way to exchange coins anonymously. No amount of mixing can save you if they really want to get you.

And so the dex are perfect to used which I guess Hyungwoo Kim will have a hard time.

[fiulpro]

To build a criminal database one would need the information of everyone who is involved in this therefore this would genuinely hurt the Privacy part of the cryptocurrencies like Bitcoins.
This would create problems for the Investors and for the network itself. It would more or so make the cryptocurrencies a Centralized body , there have been events that makes me think that this would happen in the future soon:
-KYC is being demanded by most of the wallet companies
-Due to KYC the bank accounts are being connected and information is being sent to the government body
-.-
I do think it should be done only when an investigation is being done therefore it would actually be justifiable.

This step may cause 2 things :
-Completely eradicate the privacy
-eradicate the chance that could have been given to those people who made a mistake , I think everyone needs that chance no matter what.

[rexxarofmoknathal]

Building a criminal database using the blockchain technology is a good idea but it would have to compromise on privacy. This is the greatest challenge, going against what BTC was built for.

However, the benefit of it is that once a persons's details are entered in the database, well this is made public, but the great advantage is that power and money won't have much effect in erasing the data. So in a way it levels the playing field of criminality for both the power and the reach, bringing that inequality gap slight closer.

[o_e_l_e_o]

-KYC is being demanded by most of the wallet companies

Any "wallet" which demands KYC is not a wallet at all. It is a third party custodial service, and should be avoided. You should hold your own keys in your own wallet, not trust someone else to do it for you.

However, the benefit of it is that once a persons's details are entered in the database, well this is made public, but the great advantage is that power and money won't have much effect in erasing the data.

Why not? This database is going to have to be centralized, so what is to stop someone paying or bribing the owners to have their name removed from it? Similarly, how does adding someone's name prevent them from scamming in the future? They can create a new wallet completely unlinked to their previously identified wallets and addresses in 10 seconds.

[verita1]

Kim who leads the project has a good argument and he is completely right.

We are seeing that cyber attacks around cryptocurrencies are proliferating, it is time to be forceful to prevent hackers from getting away with it.

He suggests identifying the hackers' wallets and flag them so that they cannot be used.

[NurAzizahhh]

You can really see this in their terms and conditions, cyber crime groups can enter the scene to find something shady in connection with any crime that can be committed online. What's more, tracking is easy, in fact anyone can do this because the blockchain is kept public, but searching for who uses that address is almost impossible, I've never heard of anyone being traced because they found their IP

[uray]

Building a criminal database using the blockchain technology is a good idea but it would have to compromise on privacy. This is the greatest challenge, going against what BTC was built for.

Why are you worried about the criminal database and why do you think about privacy for these criminals. There is a clear misunderstanding from what you understand about bitcoin, when you have a public blockchain where you can monitor the money trail from the moment the coin is mined and how come you came to a conclusion that privacy is the main aim of bitcoin.

[MainIbem]

I have a bad feeling whenever I see the words "Bitcoin" and "tracking" in the same sentence.

All lovers of Bitcoin will fill same way as has been expressed. Yet there is much to do to relieve Bitcoin from the shackles of criminals who are using it for illegal activities.

[Iceblast]

And what did we expect? To have broader and broader use of Bitcoin and services and that everything will remain the same? Including the illegal use of Bitcoin?
Of course not, Bitcoin should also fit into legal framework and that means that we need to sacrifice a part of of our privacy and anonimity and there is no sense in fighting it.

yes, bitcoin must have a legal environment because in any case today bitcoin cannot be owned by crypto criminals, it needs a special agency that handles bitcoin and also exchanges if there is a criminal track in the database, so it is easy to trace if there are suspicious bitcoin transactions or reports lost bitcoin due to theft and hack

[dimastegar]

Its easy to track they say.  Its their project so if they can track criminals and put it in a database then tis their call. Blockchain tracks can be used to build cases and proof just how as we find it useful in finance.

We know that all transactions are well recorded on the Blockchain. Both the sender's BTC address, the amount of BTC, and the date the transaction was made are all on the Blockchain. But what happens if the hacker makes a transaction via Mixer? Isn't a mixer used to maintain user privacy? Sometimes I think KYC is important .

[Zionatin]

They can flag and track wallet until the cows come home. You still can't prove someone owns said wallet. You can say their pc was used or remotely used to access said wallet but you cannot prove it was them or their wallet.
It is like having someones IP address. government has tracked that for years and years. If they track bitcoin addresses that's fine. Good luck to them if they feel that is what will protect the county from crime then so be it.
I don't think we have anything to worry about.

[Ozero]

This company in South Korea is figuring out that once a cyber criminal, always a cyber criminal. They found that two separate big crypto crimes shared the same exchange account for onramping or offramping. Of course most of it was done with Bitcoin. Don't know how it will get better before getting worse.

https://thenews.asia/hyungoo-kim-tracking-cryptocurrency-cyber-crimes/

The creation of such databases on cybercriminals and the wallets and other resources they use should be dealt with by law enforcement agencies. They are still practically inactive. Well, let various commercial structures collect data on this for now. Perhaps this information will be useful in the future.

[Lorence.xD]

They can flag and track wallet until the cows come home. You still can't prove someone owns said wallet. You can say their pc was used or remotely used to access said wallet but you cannot prove it was them or their wallet.
It is like having someones IP address. government has tracked that for years and years. If they track bitcoin addresses that's fine. Good luck to them if they feel that is what will protect the county from crime then so be it.
I don't think we have anything to worry about.

I can vouch for the flagging and tracking of the wallet but when you said that it can't prove that it was the culprit then you might be underestimating the investigations of the cyber police and law enforcement at that. I think the part where the computer was used by a third party is very unlikely because if you are responsible then you will not be acquainted to this sticky situation, plus why would the culprit go to the lengths of accessing other computer when they can just get softwares that help them hide their online footprints.

[seramania]

actually crypto crimes will be easy to detect because they always make very large suspicious transactions. but we can only watch and cannot do anything because there is no authority or legal entity that can supervise it. crime in crypto will always exist and for sure we have to be careful not to be targeted by cyber criminals

[harryCain]

Fortunately for law enforcement, cryptocurrency cyber crimes are easy to track. Every single transaction on the Bitcoin and Ethereum blockchains are recorded and immutable, meaning they are permanent and cannot be altered. Therefore, the transaction history of every wallet, including those on exchanges, can be tracked from the instant they are created.

[kotajikikox]

actually crypto crimes will be easy to detect because they always make very large suspicious transactions. but we can only watch and cannot do anything because there is no authority or legal entity that can supervise it. crime in crypto will always exist and for sure we have to be careful not to be targeted by cyber criminals

Crime in crypto will continue to exist as scammers and hackers are all residing inside the same market with us.

We can track them but chasing them without any implemented rules inside this
sphere, it will be hard to convict  them inside decentralized market like crypto.

Unless there's certain policy that governs, it's still possible to chase them and let
them pay for what they've done.

[desticy]

That's why I love blockchain. You can't hide anything, no matter how hard you try, no matter how much you want, the blockchain allows you to see everything. Even if you use a bitcoin mixer, everything is exactly possible to understand the original wallet.
I am not a supporter of de-anonization, however, given the youth of the crypto market, and how much it suffers from all kinds of scam, we probably have nothing but to create such a base to isolate dirty bitcoins. Although I doubt that there are no loopholes to launder them.

And some people still think that it's an anonymous currency for online drug dealers and hackers. The ignorance and stupidity have no boundaries.

Of course you can launder money through cryptocurrencies but with Bitcoin it's quite difficult especially with the KYC procedures on almost every single exchange. You can make up credentials, get fake IDs but all of it leaves a trace that can be later used to get you. You're only safe if you find a way to exchange coins anonymously. No amount of mixing can save you if they really want to get you.

Alas, mixing is a great way. Of course you can find these bitcoins after mixing with a lot of effort, but does it give you something?
Bitcoin is not regulated, leaves a trace only in the blockchain, all we can try to block the exit of "dubious" bitcoins anywhere, but this is solved through the use of mixers.

[cryptoperkele]

...
Their "anti-criminal strategy" falls off a huge cliff the moment you start wondering how these hackers will cash out.. because they are most likely not that stupid to ever move their coins to a centralized exchange anyway. They'll probably use Bisq or other p2p methods in combination with mixers to get through unseen, so how useful is this blockchain identification thing then if the ways they'll cash out are KYC-less anyway?

You lost me there, what were the ways to cash out kyc-less again? Most fiat ramps i know need at least a bank account, and getting big sums of cash to your bank account raises questions. We got kyc now even in BTC 2 cash ATMs.

These days even in person to person trades are worrying me, because my accounts might get connected to something illegal the other person is doing. Also dealing with large cash sums raises questions of the origin too.