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#chainalysis

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Kevin Karhan :verified:<p><span class="h-card" translate="no"><a href="https://toot.community/@heartshadows" class="u-url mention" rel="nofollow noopener" target="_blank">@<span>heartshadows</span></a></span> <span class="h-card" translate="no"><a href="https://social.openrightsgroup.org/@JamesBaker" class="u-url mention" rel="nofollow noopener" target="_blank">@<span>JamesBaker</span></a></span> Lets just say that <a href="https://infosec.space/tags/Monero" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Monero</span></a> not only never supported all the <a href="https://infosec.space/tags/NFT" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>NFT</span></a> bullshit but actually worked against it given the abuse of <em>"<a href="https://infosec.space/tags/Ordinals" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Ordinals</span></a>"</em> aka. attempts to do that on the <code>tx_extra</code> field.</p><p>As for Money Laundering, existing provisions cover that well enough, cuz even <a href="https://infosec.space/tags/NowPayments" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>NowPayments</span></a> and <a href="https://infosec.space/tags/ChangeNow" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ChangeNow</span></a> do <a href="https://infosec.space/tags/KYC" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>KYC</span></a> &amp; <a href="https://infosec.space/tags/KYB" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>KYB</span></a> their clients, and any bona-fide business does maintain records of billings and has absolute basics of accounting in place, so that makes them unattractive, espechally for any ML operations as they do cooperate on duely issued warrants and have been known for that.</p><ul><li>In fact, the clamp-down on Monero did create a huge industry of middlemen that facilitate exchange of it into clean <a href="https://infosec.space/tags/shitcoins" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>shitcoins</span></a> to the point that a whole industry of <a href="https://infosec.space/tags/crypto" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>crypto</span></a> <a href="https://infosec.space/tags/trackers" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>trackers</span></a> emerge that try to trace shit - like <a href="https://infosec.space/tags/Chainalysis" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Chainalysis</span></a> &amp; <a href="https://infosec.space/tags/IntegraFEC" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>IntegraFEC</span></a>. </li></ul><p>So even if DNDLs sit on millions if not billions in Monero, they can't cash that out because even the shadiest of <a href="https://infosec.space/tags/Banksters" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Banksters</span></a> in the most shady of Bank will ask <em>"Where da money come from?"</em> and will likely seize any funds that have no explaination.</p><ul><li>This is why even if someone had my IBAN &amp; BIC and were to send me illicit funds, that would never show up on my account balance nor would I even get questioned about this <em>TradFinance "dusting" attack</em> because it would instantly get frozen by my bank, reported to FIU and unless I were to ask about it, everyone would rightfully know that I don't know cuz I'm not into <a href="https://www.youtube.com/watch?v=UfgbZ5wJszs" rel="nofollow noopener" target="_blank">that shit.</a></li></ul><p>I stay on the legal side out of principle!</p>
Replied to ⚯ Michel de Cryptadamus ⚯
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Kevin Karhan :verified:

@cryptadamist @panigrc @finalstaticfox @dansup

Obviously that's another evidence of why #KYC IS THE ILLICIT ACTIVITY!...

  • That problem doesn't exist with #Monero as one cannot determine #transactions, #balances or link wallets by observing the #blockchain. Unlike with all those Shitcoins like #Bitcoin or #Ethereum!

  • So even if I had a Monero Wallet and even if you knew the wallet address, you cannot see what's on it or what transactions go in and out.

  • It's even more secure than #SEPA because thanks to #SWIFT & #FATCA the #IRS and #TreasuryDept. have bulk access to these systems and can basically see account balances in real time (when it comes to #US citizens! The rest they can approximate with bulk access to payment providers and intelligence).

So yeah, blame lack of #privacy, #secrecy, and #custody as well as #doxxing in the form of KYC under the false pretense of #AML for the rampant rise of #kidnappings and armed robberies of #shitcoin HODL'ers.

  • Obviously I do condemn such acts of violence as a matter of principle.

The fact that there are automated, idiot-proof tools like #chainalysis that enable statistical tracking and linking of transactions for everything except Monero is the problem.

  • Don't believe that such "AML compliance" tools are unique to the clients of said providers, because it's just connecting dots from public records. No warrant nor insiders nor MLAT needed.

IOW: OFC I'd have to expect getting robbed by organized crime if I were to post evidence of me sleeping on genuine gold bars.

Universeodon Social Media⚯ Michel de Cryptadamus ⚯ (@cryptadamist@universeodon.com)@kkarhan@infosec.space @panigrc@mastodon.social @finalstaticfox@pounced-on.me @dansup@mastodon.social the people i know who got home invasioned for their bitcoins got home invasioned way before there were any regulations involved
#opsec#infosec#comsec
PrivacyDigest

#RossUlbricht Got a $31 Million Donation From a #DarkWeb Dealer, #Crypto Tracers Suspect

Crypto-tracing firm #Chainalysis says the mysterious 300-bitcoin donation to the pardoned #SilkRoad creator appears to have come from someone associated with a different defunct black market: #AlphaBay.
#privacy #bitcoin #blackmarket

wired.com/story/ross-ulbricht-

WIRED · Ross Ulbricht Got a $31 Million Donation From a Dark Web Dealer, Crypto Tracers SuspectBy Andy Greenberg
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⚯ Michel de Cryptadamus ⚯

"#Stablecoins remained the primary choice for #terrorist financing organizations" according to #TRMLabs (who have a questionable history as far as downplaying things like crypto's terrorist financing use cases but are at least more reliable than #Chainalysis)

and when they say "stablecoins" they really mean "#Tether on the blockchain (#Tron) owned by #Trump's new business partner #JustinSun".

(h/t @cybeardjm)

#crypto#uspolitics#uspol
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⚯ Michel de Cryptadamus ⚯

lawsuit filed by #CelsiusNetwork creditors against scamalytics firm - sorry i mean "blockchain analytics company" - #Chainalysis for aiding and abetting the Celsius Network fraud.

Chainalysis is the company that the government hires to track down crypto fraud but they are hopelessly compromised / in cahoots with firms like #Tether.

* complaint: cases.stretto.com/public/x191/
* long thread by me about Chainalysis's dodgy numbers: threadreaderapp.com/thread/182

BGDon

Chainalysis reports ransomware attackers received ~ $813.5M in payments in 2024, a 35% decrease from 2023’s total of $1.25B. They noted payment activity slowed in the 2nd half of the year.

Data show that the gap between ransom amounts demanded and those paid increased in the 2nd half of the year suggesting a majority of clients opted not to pay altogether.

chainalysis.com/blog/crypto-cr #Chainalysis #ransomware #cybercrime #cybersecurity #crypto #extortion

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