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What happens when crypto tumblers run away with the money
by cheez 6y ago
What happens when crypto tumblers run away with the money
- dlubarov 6y agoThere are projects like Miximus, which is an Eth tumbler with no operator. Participants deposit funds into a smart contract, then when they want to withdraw later, they use zero-knowledge proofs to show that they know one of the private keys without revealing which one. There's also Zcash, which applies similar logic to all shielded transactions.
- cheez 6y agoOh that's nice.
- marmshallow 6y agoWell, of course another will come along!
- jdxcode 6y agoit seems logical to me a sophisticated syndicate would run their own tumbler. I'd assume there is some kind of OSS wordpress for mixing out there. And I don't think it'd be that hard to get other people to use it to get liquidity (just offer it as a free service).
- walrus01 6y agoPresumably the people who use tumblers never transfer such a huge amount of BTC into any one single tumbler, at a time, that would cause the tumbler operator to seriously contemplate pulling an exit scam.
- Polylactic_acid 6y agoTumble it in small amounts at a time. Maybe the tumbler runs away with a few hundred thousand but you are still left with millions.
- ric2b 6y agoYou'll have potentially thousands of criminals trying to get their money back? I don't like those odds but if someone wants to try that go ahead.