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It's becoming increasingly difficult. Data leaks, address and name leaks and chain analysis have made it easier to track who owns what. If crime agencies are ab
by flarex 2y ago
It's becoming increasingly difficult. Data leaks, address and name leaks and chain analysis have made it easier to track who owns what. If crime agencies are able to track wallets down then criminals are too.
- throwawayffffas 2y agoMaybe if your money is not on a public blockchain you don't have to worry about chain analysis.
- CaptainOfCoit 2y agoOnly the your onramp/offramp would need to know who you are (because of KYC/AML), otherwise you can be as anonymous as you want and it really isn't hard, assuming you don't want to hide from your onramp/offramp.
- valicord 2y agoUnless of course you want to use your hard earned crypto to buy tangible things over the Internet.
- CaptainOfCoit 2y agoWhy unless? Say you have 1 ETH in Wallet A, if you transfer it to your on/offramp (the exchange) and then do Wallet B, the only link between Wallet A and B is only known by the exchange, so you'll remain private (publicly, again assuming you don't want to hide from the exchange).
- throwawayffffas 2y agoYou can't trust the exchange to not inadvertently leak the information. A substantial leak could include personally identifying information along with account balances and or deposit and withdrawal totals.
- CaptainOfCoit 2y agoSomewhere along to lines, if you want USD, you need to trust someone, it's inescapable. So once you know this, you can act accordingly. But still, the original argument was that you have to worry about chain analysis because everything is public, but obviously that isn't true, no matter if an exchange may or maybe not inadvertently leak something.
- Banou 2y agoOnramps/offramps generally generate individual wallets per user to send/receive from, so it still goes back to you at the end of the day.
- CaptainOfCoit 2y agoThey either generate wallet address dynamically, and in those cases allow you to regenerate one at will. Or, they have wallets that acts as combined input/output for all/groups of users. I don't know a single big exchange that generates exactly one wallet per user and uses that one always for the same user. When you think about it, it makes a lot of sense they do it like that.
- Banou 2y agoFirst one maybe but definitely not the second one. Have you actually thought of it? How would the platform know who sent what. They can't. So it's definitely not shared on the deposit side. And I doubt they'd move the money around because of fees so I doubt it's shared on the withdrawal side too. From my experience, of course it depends on the blockchain used, but they all have static addresses per user
- smeej 2y agoAddresses, sure, but not wallets.