CipherTrace has announced an app coined Scout that tracks and documents illicit crypto transactions. The app traces addresses through the blockchain to identify which coins may have been used dark market and ransomware.
Do you think people are likely to use this app? Also, who would get the most use of it?
https://www.coindesk.com/ciphertrace-scout-app-takes-crypto-investigations
Do you think people are likely to use this app? Also, who would get the most use of it?
https://www.coindesk.com/ciphertrace-scout-app-takes-crypto-investigations
For an typical trader, I don't think we need this kind of tools so I'm not going to download and use this one, and I don't trust Ciphertrace though, yes they are doing something for the crypto ecosystem, but I still have my doubts. So I'm still in the middle here, it could be abused as well and that is my main concern here. I think this should be for investigators and authorities used alone, as ordinary traders like me will just be paranoid of every coins you will got and will always do check if it is tainted or not, LOL.
Anyone can taint or flagged out addresses as they want and in result it would give out false reputation of such address and into its owner.As trader, i dont even have the time either my coins are dirty or not.Same as yours ive been hearing out about Ciphertrace existence but i dont take it too seriously on what they are trying to do or contribute into this crypto community.They are solely focused about tracing up everything but come to think or in depth understanding that there are still lots of holes for their investigation to be useless since there are lots of ways on how to redirect it.
