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Tracing 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 imp
by phire 5y ago
Tracing 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...