Altcoins News
By Steven Anderson
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Monero Transactions Are Untraceable
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Monero Hides Traces of the Currency Transactions
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Monero is known as the king of privacy coins, and it is still under the control of the bears.
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Monero traded 3.4% versus the USD. The overall market capitalization trends somewhere around $820.07 million.
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Privacy coins are considered a more significant threat than Bitcoin and Ethereum. An official from the European Cybercrime Center (EC3) stated that Monero transactions are…
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While speaking at a conference at Blockchain Alliance webinar on privacy coins, Jerek Jakubcek of EC3 noted that Monero transactions could not be analyzed or traced.
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Jakubcek stated that "Since the suspect used a combination of Tor and [Monero], we could not trace the funds. We could not trace the IP-addresses.
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Tor, on the one hand, hides only the IP address. Monero permits hiding the traces of the currency transactions; this is the strength of Monero.
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The Europol makes use of Chain Analysis simulator to help with law enforcement. This testimonial from Europol vouches for the privacy of the public blockchain.
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“But with Monero blockchain, that was the point where the investigation has ended. Thus providing a classic example of one of several cases we had where suspect decided to move…
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Trading privacy coins happens in only 32% of the top 120 exchanges. And, about 63% of them have KYC provisions which are not adequate, thus making the identification of the user…
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Some governments are putting privacy coins under fire, and many of them have passed laws to remove these privacy coins.
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The XMR prices are currently trading below the simple moving averages. The prices are trending downwards, and it is to be so until it touches upon critical support.
The Currency Analytics
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