Is Bitcoin more traceable than cash?

The New York Times claims that something happened this week that changed Bitcoin's reputation as “, decentralized and anonymous” cryptocurrency.

We all know that Bitcoin was originally used by criminals to make illegal transactions without revealing their names or locations. The digital currency quickly became very popular with drug dealers and all those who wanted to hide from the tax authorities.

Bitcoin, bitcoin news, bitcoin wallet

"This week, federal officials were able to recover most of the ransom (in Bitcoin) paid in the recent Colonial Pipeline ransomware attack. This means that a fundamental misconception about cryptocurrencies has been dispelled:

"They are not as difficult to detect as those who use them for illegal transactions."

The fact that the federal παρακολούθησαν πως κινούνται τα λύτρα μέσω τουλάχιστον 23 διαφορετικών ηλεκτρονικών λογαριασμών που ανήκαν στην (hacking team), before gaining access to one of the accounts, indicated that the Authorities know.

"These are digital footprints," said Kathryn Haun, a former federal prosecutor and investor in venture capital firm Andreessen Horowitz.

"There is a trail and the authorities seem to be able to follow it very well."

Haun added that the speed at which the Justice managed to obtain most of the ransoms were "pioneering."
On the contrary, he stated that obtaining records from banks often requires months or years of bureaucracy, especially when these banks are abroad.

Detecting a user's transaction history is easy and is done with the public key it has, authorities said.

The confiscation of the ransom, however, requires the acquisition of the private key, which is somewhat more difficult. Of course no one knows how the federal agents managed to get DarkSide's private key.

Justice Department spokesman Marc Raimondi declined to comment further on how the FBI acquired DarkSide's private key. According to court documents, the investigators had access to the password for one of the hackers' Bitcoin wallets, but did not specify how they obtained it.

Το F.B.I. δεν φαίνεται να χρησιμοποιεί κάποια υποκείμενη ευπάθεια στην τεχνολογία blockchain, ανέφεραν ειδικοί σε κρυπτονομίσματα. Οι Ομοσπονδιακοί πράκτορες θα μπορούσαν να έχουν πάρει τα ιδιωτικά κλειδιά του DarkSide φυτεύοντας έναν κατάσκοπο μέσα στο δίκτυο του DarkSide, χακάροντας τους υπολογιστές που αποθήκευαν τα ιδιωτικά κλειδιά και τους of their access or forcing the service that has the private them to deliver it through some search warrant.

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Bitcoin, bitcoin news, bitcoin wallet

Written by giorgos

George still wonders what he's doing here ...

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