Encryption is not very practical – Using cryptocurrencies for illegal purposes It is a classic problem facing the industry. Criminals mistakenly believe that cross-chain transactions will allow them to evade authorities.
Cryptography: Blockchain to fly under the radar
Digital currencies do not allow to enter into Stealth mode. During an interview Granted to Kitco’s new media Future Blockchain Summit To Dubai, Michael GromekExplain the reasons for this The criminals are wrong. They think they can use the blockchain to make illegal transactions with peace of mind.
As a reminder, Michael Gromek is the co-chair of the committee Digital Asset Task Force Global Alliance Against Financial Crime. He remembers that Most of the suspects Those who execute transactions on the chain can “He can be easily chased away.”.
Know Your Customer data from cryptocurrency exchanges and enforcement of anti-money laundering regulations can be enough to identify criminals.
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The deal is completely anonymous, legend?
Michael Gromek also broke a myth from one Completely anonymous crypto transaction. It uses private cryptocurrencies that the authorities will still be able to trace.
Just over two years ago, Chainalysis also successfully implemented a method. The latter has it He challenged his anonymity of cryptocurrencies zcash And the dash It is meant to be provided to its users.
However, some private cryptocurrencies, such as Monero (XMR)improve their system. And therefore they have Enhanced confidentiality of transactionsdespite increasing pressure from regulators to be able to easily read the details of individual transfers on the blockchain.
using private cryptocurrencies or Blenders such as Tornado CashTo erase their tracks, hackers unfortunately enhance it Idea arrived According to On-chain transactions is the best way to transfer millions of dollars from illegal activities, without getting caught.
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