shield132 (OP)
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November 23, 2020, 07:05:34 PM |
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If you guys remember, one of the major bitcoin mixer - bitmixer was closed in 2017 and the owner stated that after deep investigation, he could confirm that the most anonymous coin for transactions was - Monero. We all also know that this altcoins is known for it's anonimity. But right now, as it seems, crypto analytics firm - CipherTrace announced that they are capable of tracing monero transactions (stolen money, illegal transactions, etc) and they already have filed two patents. They made this tool as a part of the project with the U.S. Department of Homeland Security and they have been working on this since 2019. What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype?
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Thesaintplague
Jr. Member
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Activity: 238
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https://www.jacs.tech/
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November 23, 2020, 07:26:02 PM |
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What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype?
I think this is an overstatement. Some structures could not create a tool to track transactions for Monero network (obviously, they would not have written about it if they had such a tool), so they decided to pretend to have achieved some success. Typical cheap move.
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JACS ♦♦♦ Internet 3.0 Decentralized Infrastructure ▬▬▬▬▬▬ https://www.jacs.tech/ ▬▬▬▬▬▬
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MusaMohamed
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November 24, 2020, 01:55:57 AM |
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The IRS offers a $625,000 bounty to anyone who can break Monero and Lightning. The project announced to give offers and big awards in September 2019 by the United States Internal Revenue Service. Details can be downloaded from https://beta.sam.gov/opp/3b7875d5236b47f6a77f64c19251af60/view?index=oppRequest for Proposal 2032H8-20-R-00500
2) Provide technology which, given information about specific parties and/or transactions in the Monero and/or Lightning networks, allows Special Agents to predict statistical likelihoods of other transaction inputs, outputs, metadata, and public identifiers with minimal involvement of external vendors
Last year, CipherTrace develops Monero tracing tool to aid US DHS investigations and 4 days ago (20 Nov 2020) CipherTrace Files Two Monero Cryptocurrency Tracing Patents. From their report, I see other currencies are on their radar and might be delisted from ShapeShift exchange (ZCash, DASH). CoinBase does not accept Monero.
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cabron
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November 24, 2020, 01:58:22 AM |
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Its just a fud they say. You need to check this thread for more details about this fud https://bitcointalk.org/index.php?topic=5286887.20Remember that IRS was about to pay 600,000USD for anyone who can break Monero (XMR), Ciphertrace claim seems only a fud base on the discussion, and in fact after the fud XMR price only rise up.
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iTradeChips
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November 24, 2020, 02:09:01 AM |
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Monero has developers and of course people that run the show. They know exactly the threats they face and they have contingencies on how to combat such threats. I don't think they will just stare at it and wait for them to fall. They will fight and there might be signs that Monero is trying to strengthen itself. We just have to wait for further developments as time passes. I bought this coin and I am interested in what the developers will do to protect them from being manipulated by big finance.
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Squezzi55
Member
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Activity: 266
Merit: 11
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November 24, 2020, 06:38:58 AM |
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If you guys remember, one of the major bitcoin mixer - bitmixer was closed in 2017 and the owner stated that after deep investigation, he could confirm that the most anonymous coin for transactions was - Monero. We all also know that this altcoins is known for it's anonimity. But right now, as it seems, crypto analytics firm - CipherTrace announced that they are capable of tracing monero transactions (stolen money, illegal transactions, etc) and they already have filed two patents. They made this tool as a part of the project with the U.S. Department of Homeland Security and they have been working on this since 2019. What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype? In the past I've know Monero (XMR) to be a strict privacy coin thanks to the team, even when miners are using asic to mine this coin the team started changing algorithm from the old cryptonight to cryptonight-xmr and many more, if there is a way to trace Monero then there is a breach, it means that Monero isn't capable of been a privacy coin anymore, it's purpose should be 100% privacy, now it's on the team to add more breach proof to the system
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Festac
Member
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Activity: 210
Merit: 10
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November 25, 2020, 08:16:14 AM |
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Monero can be tracked and is likely a government honeypot. I use 0xMR instead.
0xMR over XMR? Are you kidding me? Monero is way better than any privacy coins in crypto space, I'm sure that is a tool is available to track Monero it will be hidden from the public, I don't believe there is such tool, not until there is proof that Monero blockchain is penetrable, right now it's like FUD, XMR is currently mooning though, fill up your bags
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bittick
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November 25, 2020, 09:11:52 AM |
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Don't know for sure. We don't even know whether that tool really exist or not and whether it could track down monero transaction so our opinion here gonna be a wild hunch. But, expect monero to get attacked by the government due to its increasing popularity and if the government really know how to trace monero transaction then probably we gonna see some people busted anytime soon. After all privacy coin always has that shady image in the eyes of the government and it's all really to be expected.
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irixo10
Full Member
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Activity: 1078
Merit: 104
GoMeat - Digitalizing Meat Stores - ICO
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November 25, 2020, 09:27:22 AM |
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It is actually easy for anyone to say anything they want just to get attention but when it gets to the real deal, they lag behind. As it stands now, they can claim to achieve that, but until we start seeing results then we will know the truth. However, I find this as a fud, Monero is an old privacy coin and the best at that, and for it to remain in such way means the team are always trying their possible best to maintain their features. Also, owing to the fact that Monero is all about privacy and anonymity, it means that for it to survive till now even when most people are against it shows the team are on top of their game, hence it I think I can say that, the team will keep trying their best to maintain their platform's goals and with such news, they will even work harder. Therefore, I see it as a fud and not the end of Monero but possible platform advancement.
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NeuroticFish
Legendary
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Looking for campaign manager? Contact icopress!
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November 25, 2020, 09:34:48 AM |
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Interesting timing for the more and more "persuasive" news about Monero's death. You know that in a couple of days Monero's emission will drop under Bitcoin's? And since crypto winter has ended, I'd say that somebody wants to grab cheap coins while they stay cheap.
I think that Monero tracking may be done only in very few specific situations (laboratory specific tests), and those situations don't happen much (or at all) "in the wild", but a company needs advertising, isn't it?
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MandatoryOption
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Activity: 546
Merit: 12
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November 25, 2020, 09:38:23 AM |
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What would Monero stopp to implement changes that revert or prevent everything that CipherTrace has worked out to trace the transactions? I mean that should be possible, right? And I still don't really believe these news either. Only when they really manage to trace transaction. Now it's just rumors.
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Bergluft
Member
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Activity: 161
Merit: 20
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November 25, 2020, 09:54:56 AM |
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Interesting timing for the more and more "persuasive" news about Monero's death. You know that in a couple of days Monero's emission will drop under Bitcoin's? And since crypto winter has ended, I'd say that somebody wants to grab cheap coins while they stay cheap.
I think that Monero tracking may be done only in very few specific situations (laboratory specific tests), and those situations don't happen much (or at all) "in the wild", but a company needs advertising, isn't it?
The volume of Monero still keeps staying strong. I think someone is trying to accumulate more before it explodes. The sudden spike in volume on September 10 (40x) is also really suspicious, how is this explainable?
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Ah yeah.
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XCANA
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November 25, 2020, 10:10:55 AM |
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What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype?
I think this is an overstatement. Some structures could not create a tool to track transactions for Monero network (obviously, they would not have written about it if they had such a tool), so they decided to pretend to have achieved some success. Typical cheap move. What? Monero still remains the very best privacy coin in this industry and it is not overstatement, Bitcoin privacy has been compromised but not that of Monero. Although there might be some sort of tools that might been able to trace it transaction but that will be later time when the technology advances beyond this stage we are right now.
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Doranile432
Member
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Activity: 476
Merit: 22
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November 25, 2020, 11:21:28 AM |
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If you guys remember, one of the major bitcoin mixer - bitmixer was closed in 2017 and the owner stated that after deep investigation, he could confirm that the most anonymous coin for transactions was - Monero. We all also know that this altcoins is known for it's anonimity. But right now, as it seems, crypto analytics firm - CipherTrace announced that they are capable of tracing monero transactions (stolen money, illegal transactions, etc) and they already have filed two patents. They made this tool as a part of the project with the U.S. Department of Homeland Security and they have been working on this since 2019. What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype? As you can see Monero team aren't even saying anything about this because it's not real, homeland security my foot, if they have this so called tool they won't dare utter a word about it, lol this is so laughable, good move U.S department of homeland security, welcome to crypto world
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Doranile432
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Activity: 476
Merit: 22
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November 25, 2020, 11:24:31 AM |
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Interesting timing for the more and more "persuasive" news about Monero's death. You know that in a couple of days Monero's emission will drop under Bitcoin's? And since crypto winter has ended, I'd say that somebody wants to grab cheap coins while they stay cheap.
I think that Monero tracking may be done only in very few specific situations (laboratory specific tests), and those situations don't happen much (or at all) "in the wild", but a company needs advertising, isn't it?
The volume of Monero still keeps staying strong. I think someone is trying to accumulate more before it explodes. The sudden spike in volume on September 10 (40x) is also really suspicious, how is this explainable? Monero is a top altcoin so it should be driven by the current bitcoin Bullrun just like XRP, ETH and BCH, they all revaluates once bullrun starts, I'm not surprised that Monero is over 100$ already, this is just the beginning, if Bitcoin goes over 20k this time all top altcoins, privacy or not will pump big time, let homeland security keeps their toy called tool for tracking Monero, it's a big white lie
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Mighty_crypt
Member
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Activity: 784
Merit: 21
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November 25, 2020, 11:38:57 AM |
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Never underestimate Monero team, if this is true they would have adjust their security already, maybe homeland security is trying to pull some strings in the shadows? Maybe expecting Monero to make some mistakes? Well such tools should be hidden if truly it exists like U.S homeland security claimed
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viananda2525
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November 25, 2020, 11:54:11 AM |
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as long as its not proven yet, monero still be best privacy coin in crypto market. every one could claim they found tools to track monero transaction , but to make crypto community believe on it they must provide document that record tracing monero. and i think monero dev team will not remain silent and do improvement in their coins.
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perla
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November 25, 2020, 12:23:43 PM |
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If you guys remember, one of the major bitcoin mixer - bitmixer was closed in 2017 and the owner stated that after deep investigation, he could confirm that the most anonymous coin for transactions was - Monero. We all also know that this altcoins is known for it's anonimity.
But right now, as it seems, crypto analytics firm - CipherTrace announced that they are capable of tracing monero transactions (stolen money, illegal transactions, etc) and they already have filed two patents. They made this tool as a part of the project with the U.S. Department of Homeland Security and they have been working on this since 2019.
What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype?
This is an interesting subject, is there any confirmation on about how they do it? Is there any ways they give information about how they trace it? If they can't give any information about the vulnerability of the Monero I don't think they are telling the truth.
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BChydro
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November 25, 2020, 12:31:24 PM |
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What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype?
The claims they are making are not simple but then i am not sure how they are able to trace these transactions as there are many levels to their encryption and what method they exploited is yet to be known. For us to know whether these claims are legit we need to wait for a much longer time until someone is arrested by the authorities for the crimes they done with Monero .
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shield132 (OP)
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November 26, 2020, 05:34:21 PM |
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If you guys remember, one of the major bitcoin mixer - bitmixer was closed in 2017 and the owner stated that after deep investigation, he could confirm that the most anonymous coin for transactions was - Monero. We all also know that this altcoins is known for it's anonimity.
But right now, as it seems, crypto analytics firm - CipherTrace announced that they are capable of tracing monero transactions (stolen money, illegal transactions, etc) and they already have filed two patents. They made this tool as a part of the project with the U.S. Department of Homeland Security and they have been working on this since 2019.
What do you guys think about it? According to the structure of monero transactions (rings...) will they really be able to trace it? Or just another hype?
As you can see Monero team aren't even saying anything about this because it's not real, homeland security my foot, if they have this so called tool they won't dare utter a word about it, lol this is so laughable, good move U.S department of homeland security, welcome to crypto world Well, it's not like that at all, according to the article published on cointelegraph, one of the Monero outreach representative said that such claims are highly suspicious. It means that they deny the fact that CipherTrace will be able to trace transactions as they claim. Interesting timing for the more and more "persuasive" news about Monero's death. You know that in a couple of days Monero's emission will drop under Bitcoin's? And since crypto winter has ended, I'd say that somebody wants to grab cheap coins while they stay cheap.
I think that Monero tracking may be done only in very few specific situations (laboratory specific tests), and those situations don't happen much (or at all) "in the wild", but a company needs advertising, isn't it?
Why do you say that crypto winter has ended? Btw I agree with you, this is kind of marketing strategy when you claim something that looks like unclaimable. Monero has the reputation to be the most anonymous one, by targeting it, company gains attention of people: If they are able to find weak dots in such a currency, then there is nothing they can't do...
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