'Crypto is anything but private.' An author examines crime on the blockchain
. In a phone call, Greenberg talked about the status of that hack and the dangers of both online anonymity and surveillance.How did you come to write a book about the tracing of crime across the blockchain?Cypherpunks
That definitely happened. But it took me a decade to realize how opposite of untraceable Bitcoin really was. Cryptocurrency tracing was not only possible, but an incredibly powerful investigative technique. And in the hands of one small group of detectives, it led to the bust of one massive cyber criminal operation after another, each bigger than the last.admitted that his crypto exchange co-mingled customer funds with that of his investment firm, Alameda Research.
The interesting thing about the properties of crypto is we can all watch that half-billion-dollar sum move around the blockchain. Many of the main characters of my book are watching that money move. It will be very difficult for whoever took that cryptocurrency from FTX to cash it out without being identified. We will, almost certainly, get an answer of who took that money.
How have both law enforcement agencies and independent tracing companies stepped up their game since the main bulk of reporting in your book took place? It also means that these tools are becoming a commodity. If you’re a law enforcement agency who doesn’t know how to trace cryptocurrency, you don’t have to learn. You can just pay for a contract with one of these companies that will provide you super polished tools to do it and train you how to do it.
There’s no doubt that this is a complicated capability, ethically speaking. I’m not saying necessarily that Chainalysis or the U.S. government will abuse it. But it seems clear at some point, these capabilities will be available to regimes we would rather not be giving new surveillance powers to.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin ‘bloodbath’ expected next year as crypto winter set to last into 2023, analysts warnBitcoin has already plunged in value by 60 per cent in 2022 after a string of high-profile collapses of exchanges, companies and projects that have relied on it
Read more »
Revealed: the Alameda venture capital portfolioA look inside Sam and Caroline’s grab-bag of crypto, etc.
Read more »
A crypto-exchange founder makes his case for decentralised finance“The demise of FTX, the crypto exchange run by Sam Bankman-Fried, is horrifying, but it’s a tale as old as time,” writes Hayden Adams. In a guest essay, the founder of Uniswap argues for the potential of decentralised finance
Read more »
Signature says it is ‘not just a crypto bank’ as it sheds deposits\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »
US bank Silvergate defends ties to Sam Bankman-Fried’s crypto groups\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »
Crypto regulation/stablecoins: UK aims to rein in alternative currencies\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »