3 ms·
> easy for the kidnappers to receive ransom in a way that's very hard to trace back to them after the fact This is actually less true than you assume (barring
by xethos 2y ago
> easy for the kidnappers to receive ransom in a way that's very hard to trace back to them after the fact
This is actually less true than you assume (barring Monero). Crypto, and Bitcoin especially, is less (less, though not yet completely) of a Wild West due to Western nations enforcing KYC laws. Through this, addresses can be traced back to real people. Further chain analysis (Chainalysis is the name I'm most familiar with) allows investigators to follow the money through an immutible chain stretching back to 2008.
In short, Bitcoin is not private. It is arguably one of the least private ways to transact, considering the Blockchain will show the history of every wallet, and where every Sat started and ended. Unless you take enormous precautions, it can be traced back to you.
Whether the feds can get to you is another story, but one as old as time.