18 Y/O's question regarding the closet untraceable crypto currency ava

[Mr.D.Dobermann]

Ok ok... I know that "Crypto is never truly untraceable", but something I've been watching shit like the Malone Lam's case, and I was thinking "What if he used Manero, or a currency that is extremely hard to trace".

This is purely for educational purposes, and I am not going to be using this information for myself.

So my question is:

What are the list of different types of cryptocurrency that people use for top secret stuff? I am interested in researching these. BTC

[hugeblack]

Using Monero is merely one aspect of enhancing privacy (an ongoing process) where a single mistake could lead to your identity being exposed. For instance, despite the difficulty of tracing the Monero blockchain, Monero can still be tracked or linked to you when using third-party or closed-source wallets.

[noorman0]

-snip-

So my question is:

What are the list of different types of cryptocurrency that people use for top secret stuff? I am interested in researching these. BTC

Some crypto/service protocols offer enhanced privacy. This can stem from built-in technologies such as Monero’s Ring Signatures and Zcash’s ZKPs, or external protocols like mixers or CoinJoin, which are compatible with almost all types of cryptocurrency, including Bitcoin. I also recently came across a new privacy-enhancing protocol specifically for Bitcoin called "The Shielded Bitcoin".

Researchers at [[alloc] init] have published a specification for Shielded Bitcoin, a protocol for private transfers on the Bitcoin base layer.

If you are looking for a list, you can find one here.

[Agbamoni]

Ok ok... I know that "Crypto is never truly untraceable", but something I've been watching shit like the Malone Lam's case, and I was thinking "What if he used Manero, or a currency that is extremely hard to trace".

You mean to say Monero, not Manero.

Monero on-chain transactions can neither be traced nor tampered. But an exemption is found if the transaction was done through a KYC exchange or due to a mistake in the transaction. In summary, the user's interaction with a centralized platform can compromise their privacy.

[eternalgloom]

Ok ok... I know that "Crypto is never truly untraceable", but something I've been watching shit like the Malone Lam's case, and I was thinking "What if he used Manero, or a currency that is extremely hard to trace".

Criminals rarely get busted by blockchain. They get caught due to liquidity crises.

Converting $10 million worth of XMR into cash or real estate is nearly impossible.

Cashing out XMR often leads to IP leak, exposure to social engineering attack or triggering KYC flag.

They also frequently get caught when they are unable to demonstrate their source of funds for their lavish lifestyle. So if Malone had used Monero, poor OpSec would likely have been the reason for his capture.

[HeatBit]

Ok ok... I know that "Crypto is never truly untraceable", but something I've been watching shit like the Malone Lam's case, and I was thinking "What if he used Manero, or a currency that is extremely hard to trace".

You mean to say Monero, not Manero.

Monero on-chain transactions can neither be traced nor tampered. But an exemption is found if the transaction was done through a KYC exchange or due to a mistake in the transaction. In summary, the user's interaction with a centralized platform can compromise their privacy.

Bitcoin as a decentralised coin isn't far from this too.
Bitcoin transactions is public but can't be traced nor tampered.

It can only be traced back to an exchange where KYC was verified, this is why centralised exchanges are not helping anyone, they are creating more problems for people and such idiots are calling it easier way out.

Monero is a privacy coin and Bitcoin is a decentralised coin.

Both needs to used in such way, decentralised or privacy manner, but if you are idiot like some, it can be used in centralised way too, e.g KYC verified links, what's privacy about Monero when it's linked to a KYC account?

[Btcdeybodi]

If you perform a crypto transaction and you don't want your identity to be traced to it, then you should never convert it to any other cryptocurrency. It should remain in that coin till eternity because as soon as you try to exchange it with other cryptocurrency or to fiat, some secret information about you or the device you used in performing the transaction can be tracked.

As far as i know, monero is the only cryptocurrency with high level of privacy since it is designed with special cryptography that hides the details of a transaction. It operates as a private coin unlike bitcoin that works with a public ledger where all transactions are visible.