Topic: Hackers and their use of mixing services - page 3. (Read 683 times)
Is this one of the reason why a long running and trusted bitcoin mixing service bitmixer stopped their operation without any prior notice. An anoymous betting platform like directbet also closed their door. Looks like low kyc or anything around bitcoin without kyc is getting threatend by authorities for possible involvement in money laundering.
Its true mixing services are great opportunities for hacker to hide themselves. But it doesn't mean mixing services are encouraging hackers to hack others fund. Even when there were no mixing services hacking wasn't stopped. They chosen some other sources for hide themselves and it's pretty clear on your chart. Mixing is for save your privacy, and this is for all even for hackers & scammers. If hackers could hack huge amount of fund then I believe they know very well how they have to save themselves. So concern is about security, most of hack happened on exchange. Prevention is better than cure, so exchange should always use latest security and closed all back doors.
You can replace the 'mixing' part with anything privacy-related, such as VPN, DNS encryption, etc. You can also put 'bank' in there and it will still feel okay. After all, banks have been doing a very good job of laundering money for the past decades.
If you can solve the hacking or careless security practice from those exchanges, there's no money to launder btw.
If you can solve the hacking or careless security practice from those exchanges, there's no money to launder btw.
^ I haven't thought of that but that's definitely a possibility.
When you come to think of it, nothing also stops them from creating their own mixing methods. They have the resources and I would not doubt if they have the skills. Maybe there's already one under development, who knows?
When you come to think of it, nothing also stops them from creating their own mixing methods. They have the resources and I would not doubt if they have the skills. Maybe there's already one under development, who knows?
Mixers are also businesses, like the exchanges.
Nothing stops them from an arrangement to not mix stolen coins.
Of course I don't know if this exists, nobody will confirm that.
Nothing stops them from an arrangement to not mix stolen coins.
Of course I don't know if this exists, nobody will confirm that.
Chainalysis released an article a few days ago entitled As Exchanges Beef Up Security Measures, Hackers Get More Sophisticated. It's pretty obvious for me that hackers will adapt to whatever security upgrades these exchanges will have but what really got me interested is how the hacked coins are being spent/sold/liquidated.
Chainalysis claims that a group of hackers are now using coin mixing/coinjoin services in 2019 compared to the previous years. We can also notice that they've stopped using centralized crypto exchanges and that is probably due to way these exchanges are coordinating faster now to block/freeze funds from hackers' wallets. (refer to image below)
We know that it's the exchange fault for getting hacked but it still kinda sucks to think that the services that are meant to increase our privacy & anonymity are also aiding these hackers (and also money launderers). The fact that developers are trying to improve mixing methods and that more and more mixing services are coming out also gives hackers more options.
For those who wants to read about mixers, here's a good thread to start What is Bitcoin Mixer?
Chainalysis claims that a group of hackers are now using coin mixing/coinjoin services in 2019 compared to the previous years. We can also notice that they've stopped using centralized crypto exchanges and that is probably due to way these exchanges are coordinating faster now to block/freeze funds from hackers' wallets. (refer to image below)
We know that it's the exchange fault for getting hacked but it still kinda sucks to think that the services that are meant to increase our privacy & anonymity are also aiding these hackers (and also money launderers). The fact that developers are trying to improve mixing methods and that more and more mixing services are coming out also gives hackers more options.
For those who wants to read about mixers, here's a good thread to start What is Bitcoin Mixer?
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