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> anonymous and hard to trace Didn't read beyond. Maybe the talk about another Bitcoin, than the one we know? Media seems to try to create a narrative about B
by kerng 5y ago
> anonymous and hard to trace
Didn't read beyond.
Maybe the talk about another Bitcoin, than the one we know? Media seems to try to create a narrative about Bitcoin that is false.
Bitcoin is an open and public ledger - there is no easier and better way to trace flow of money and its obviously not anonymous and has never been.
In fact, ransomware groups usually add another 10+% on ransom payments if victims wants to use Bitcoin. Because there are more privacy focused (less risk for attacker) solutions.
- phire 5y agoTracing the on-chain transactions is easy. But when you add in the existence of off-chain services like mixers and bitcoin exchanges, it can quickly become impossible to trace the flow of money if the attacker is putting any effort into trying to hide their traces. Tracing the coins used in the ransom is easy, but chances are the attacker doesn't own them anymore. Tracing the attacker's actual funds is hard.
- ohhhhhh 5y agoEven worse with fiat
- miohtama 5y agoIt is not actually hard and the ransomware gangs are well known. It is privateering: state enabled mafia, like French and English sponsored pirates did back in a day. China and Russia celebrate their ransomware industry. The gangs do not need to bother hide any traces. Here is a better article on ransomware and Bitcoin: http://jpkoning.blogspot.com/2021/06/why-do-ransomware-gangs-like-bitcoin.html?m=1 http://jpkoning.blogspot.com/2021/06/why-do-ransomware-gangs...