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Going to mention this as a top level comment because a lot of people here seem to believe that Monero is an anonymous cryptocurrency. Unfortunately, techniques
by Taek 3y ago
Going to mention this as a top level comment because a lot of people here seem to believe that Monero is an anonymous cryptocurrency.
Unfortunately, techniques to break Monero's anonymity have been known since 2018, and these techniques are effective at breaking essentially any partial-mixing based cryptocurrency. (Monero, Lelantus, CoinJoin, Wasabi, etc).
Initial attacks (famously The Flashlight Attack) were capable of breaking the anonymity of targeted individuals, but this attack was later generalized (by me) to break everyone.
These attacks never got a lot of coverage but they are highly effective. The only way to get strong on-chain privacy is to use a full-anonymity cryptocurrency like Zcash.
https://slideslive.com/38911785/satoshi-has-no-clothes-failures-in-onchain-privacy https://slideslive.com/38911785/satoshi-has-no-clothes-failu...
https://gist.github.com/DavidVorick/0dbd4906bfa50b7d8dba23f7665598a2 https://gist.github.com/DavidVorick/0dbd4906bfa50b7d8dba23f7...
The general idea behind each of these is that you can identify people by doing math that essentially asks "what is the likelihood that these N outputs are this close together in the transaction history graph" - and the answer ends up being "cryptographically unlikely" after just a handful of transactions from the same party. The privacy decays unexpectedly quickly. I never formalized the math but iirc you can get enough evidence to be convinced that two different transactions were by the same person after they spend something like 3 outputs total. The math is really nasty.
The only fix we know of is to switch to full anonymity systems. The privacy break is exponential in strength, and therefore even systems like Lelantus that use mixin sizes of >50,000 outputs fail to provide meaningful anonymity.
- deleted 3y ago[deleted]
- fastball 3y ago> I never formalized the math Formalizing the math seems very important to underpin a bold claim such as this one.
- lordofgibbons 3y agoIf that's the case, why does the IRS still have a $625k bounty for anyone who can defeat monero's anonymity features? And why have you not collected your money? https://www.forbes.com/sites/kellyphillipserb/2020/09/14/irs-will-pay-up-to-625000-if-you-can-crack-monero-other-privacy-coins/?sh=1e3213285cc8 https://www.forbes.com/sites/kellyphillipserb/2020/09/14/irs...
- __alexs 3y agoPoC||GTFO
- dachri 3y agoThis problems have already been solved. Zcash is far away from being full privat its just opt-in privacy and not privat by default. And the structure that Zcash is a company is not good
- vitehozonage 3y agoI solved the P versus NP problem too but I didn't bother to formalise the math. Do you believe me? That's what you sound like. If what you write is true then please write the paper; it would be tremendously important. Until then it's impossible to take you seriously.