Topic: Expect ransomware arrests soon, says bitcoin tracking firm Chainalysis - page 3. (Read 2453 times)
September 16, 2016, 07:47:32 AM
Good luck chasing the thousands of addresses out there. I'm pretty sure the state has better things to do with their time
September 16, 2016, 07:44:28 AM
Bullshit.
You are posting this as you bump your other topic touting Monero as the new silk road coin.
Zip it up.. your agenda is showing honey LOL
You are posting this as you bump your other topic touting Monero as the new silk road coin.
Zip it up.. your agenda is showing honey LOL
September 16, 2016, 07:11:47 AM
Innocent until proven guilty. Even if you can prove the funds came from a particular address, you would have to prove intent, and ownership of the addresses in question.
September 16, 2016, 06:55:15 AM
Or depositing BTC to an exchange, trading that BTC to another coin, withdrawing that coin and turning that into cash or back to BTC on another exchange.
the exchange knows your addresses and might have your real details too. and most of them are gonna be very keen to please law enforcement. I use them myself for that but i'm not doing anything wrong and don't care about that.
They not necessarily know your address. I don't do anything illegal but I have never given my info to any exchange and I still can use plenty of them. All the big ones included.
A centralized exchange knowing your identity I think defeats the purpose of crypto. And exchanges are always a target of hack attempts so generally it's just a matter of time before they get hacked at which point there's a good chance user info leaks as well.
To be on topic, on paper it's nice but I suspect people behind ransomwares are smart enough to not get caught (hope I'm wrong though).
And what if they sell their BTC outside of exchanges, the unsuspecting new owner of the coins gets his door kicked in?
September 16, 2016, 12:11:13 AM
Edit: I see Chainanalysis as nothing more than a parasite of Bitcoin.
Feynman said once: if it can happen, it will happen. Chainanalysis is just the normal implementation of the transparency of the bitcoin block chain. If you implement transparency, then it is somehow normal that people start looking at it.
I consider the block chain transparency as the biggest problem with bitcoin. It is understandable, because it was the first crypto. Satoshi got an amazing lot of stuff right for a first go. But this is one of the points where he got it wrong, thinking that the pseudonymity would have been sufficient, and forgetting that the joins of several inputs in a transaction, and several outputs of a transaction, make a network that can propagate partial knowledge of identities.
September 15, 2016, 11:12:32 PM
@ArcticMine. Or ransomware creators will start asking XMR payments making Chainanlysis obsolete and useless. As a test I am partly hoping that they start using XMR not that I want honest people to become victims of ransomware. I would only like to see how the authorities figure out tracing Monero transactions.
it is not just the ransomware creators, the real market for XMR is those that do not want to be falsely accused of a criminal offense.
Edit: I see Chainanalysis as nothing more than a parasite of Bitcoin.
September 15, 2016, 11:06:07 PM
@ArcticMine. Or ransomware creators will start asking XMR payments making Chainanlysis obsolete and useless. As a test I am partly hoping that they start using XMR not that I want honest people to become victims of ransomware. I would only like to see how the authorities figure out tracing Monero transactions.
September 15, 2016, 10:58:26 PM
http://www.computerweekly.com/news/450302807/Expect-ransomware-arrests-soon-says-bitcoin-tracking-firm-Chainalysis
What are your thoughts on this? When you trade Bitcoin with someone you might be getting tainted coins that put you in danger.
What are your thoughts on this? When you trade Bitcoin with someone you might be getting tainted coins that put you in danger.
You are putting too much thought in the issue. "Tainted coins" and "fungibility" are an overused concept and some people think it that it will affect the "value" of their bitcoins. If it really does ok please sell me darknet coins for $300 per bitcoin. I will happily take them away from your hands.
You may be right, the market may make "Tainted Coins" irrelevant or courts may make "Tainted Coins" irrelevant in crypto currency using the Crawfurd v. The Royal Bank precedent.
I see one of three options here:
1) Chainanlysis and similar companies become irrelevant and likely end up in bankruptcy court.
2) Chainanlysis and similar companies make a business out of selling compliance snake oil
3) Chainanlysis and similar companies destroy Bitcoin, and then also become irrelevant and likely end up in bankruptcy court as in (1).
September 15, 2016, 10:46:16 PM
http://www.computerweekly.com/news/450302807/Expect-ransomware-arrests-soon-says-bitcoin-tracking-firm-Chainalysis
What are your thoughts on this? When you trade Bitcoin with someone you might be getting tainted coins that put you in danger.
What are your thoughts on this? When you trade Bitcoin with someone you might be getting tainted coins that put you in danger.
You are putting too much thought in the issue. "Tainted coins" and "fungibility" are an overused concept and some people think it that it will affect the "value" of their bitcoins. If it really does ok please sell me darknet coins for $300 per bitcoin. I will happily take them away from your hands.
September 15, 2016, 10:42:20 PM
This kind of thing fails the concept of innocent until proven guilty, and actually has to potential to bring down Bitcoin. So a law abiding citizen buys Bitcoin from an exchange with her hard earned money and users her Bitcoin for a perfectly legal payment. She then gets accused of a criminal offense by some proprietary analytics program, because those Bitcoins were used for a criminal act x number of transactions back. This issue was actually settled by the courts in Scotland in the mid 1700's https://www.reddit.com/r/Bitcoin/comments/1qomqt/what_a_landmark_legal_case_from_mid1700s_scotland/ in Crawfurd v. The Royal Bank
Putting an end to this Chainalysis nonsense and respecting the legal precedent of the fungibility of money is one of the major features of Monero over Bitcoin.
As for the "problem" it can be easily solved by replacing Microsoft Windows with its DRM motivated registry with GNU / Linux. There is no need to drag innocent people through the courts in order to protect a software operating system design motivated by DRM.
Putting an end to this Chainalysis nonsense and respecting the legal precedent of the fungibility of money is one of the major features of Monero over Bitcoin.
As for the "problem" it can be easily solved by replacing Microsoft Windows with its DRM motivated registry with GNU / Linux. There is no need to drag innocent people through the courts in order to protect a software operating system design motivated by DRM.
September 15, 2016, 09:45:48 PM
Ransomware is fantastically irritating and a great blight on efforts to mainstream bitcoin by providing a positive image to people. The only downside here to the possibility that law enforcement will soon lay hands on some of the criminals involved is that it means vigilante mobs won't be getting to them first and hanging them from the nearest lamppost.
September 15, 2016, 07:16:27 PM
Or depositing BTC to an exchange, trading that BTC to another coin, withdrawing that coin and turning that into cash or back to BTC on another exchange.
the exchange knows your addresses and might have your real details too. and most of them are gonna be very keen to please law enforcement. I use them myself for that but i'm not doing anything wrong and don't care about that.
September 15, 2016, 06:41:43 PM
There's always tumbling. Or depositing BTC to an exchange, trading that BTC to another coin, withdrawing that coin and turning that into cash or back to BTC on another exchange.
September 15, 2016, 05:35:36 PM
Quote
“Bitcoin transactions used to be anonymous, but our software is capable of linking the source and recipient, so, in effect, bitcoin has become less anonymous than cash,” he said.
This presumes that the people doing this are using the same locations more than once and not moving around. The point that sticks out when I read articles that talk about bitcoin being less anon,is the leaps in talking points as if every one approaches bitcoin in the same manner.
The other aspect is with every hole that is closed off,new holes are created.
Quote
There have already been some arrests as a result of law enforcement using the Chainalysis technology, said Gronager, relating to the cyber extortion gang known as DD4BC (DDoS for bitcoin).
The article points to high profile cases and mentions involvement but nothing about solving a case and then they mention in this quote "some arrests",so I doubt it is as air tight as they want you to think. Its a good promotion job more than anything in my eyes.
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Edit:
I posted before the links where added and think the first one just points to the whole vibe or Europe wanting to encircle the internet,which will not be easy with America wanting to own it as well. To many chiefs at the party will cause it go at a very slow pace to achieve this goal if anything. Their was a similar article about the U.K wanting to control another aspect of the internet recently but it eludes my memory.
September 15, 2016, 05:16:45 PM
http://www.computerweekly.com/news/450302807/Expect-ransomware-arrests-soon-says-bitcoin-tracking-firm-Chainalysis
What are your thoughts on this? When you trade Bitcoin with someone you might be getting tainted coins that put you in danger.
What are your thoughts on this? When you trade Bitcoin with someone you might be getting tainted coins that put you in danger.
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