Crypto: Your Monero Transactions Have Been Tracked Since 2021! According To A Leak

Monero transactions, often touted for their privacy and security, might not be as untraceable as previously thought. A leaked and quickly deleted video from Chainalysis suggests that Monero (XMR) transactions can be tracked using ‘malicious’ nodes that capture details such as the crypto users’ IP addresses.

Crypto: Monero’s privacy questioned after a leak!

According to a Reddit user, the video shows how Chainalysis has been able to track Monero transactions since 2021. This revelation has raised significant concerns among Monero users and investors, as this crypto is often presented as a ‘secure, private, and untraceable cryptocurrency that keeps your money confidential.’

The leaked Chainalysis video details the methods used to trace Monero transactions. It seems that Chainalysis has deployed a large number of Monero nodes from various geographical locations and Internet Service Providers (ISP) to capture IP addresses and timestamps of crypto transactions. By combining this information with dummy transaction inputs, Chainalysis could reduce the anonymity of Monero transactions.

This potential capability to trace XMR transactions raises questions about the true privacy offered by Monero. While the Monero blockchain is designed to obscure the origin of transactions through ring signatures and other privacy techniques, Chainalysis’ methods could compromise this privacy for some crypto users.

Reactions and implications

The leak of this video has sent shockwaves across the crypto community. Monero users, in particular, are concerned about the possibility of their transactions being tracked. This situation highlights the ongoing challenges faced by privacy-focused cryptos such as Monero in maintaining their promise of complete privacy.

However, it is important to note that, despite these revelations, Monero is still widely considered one of the most private cryptos available. Chainalysis’ ability to trace some transactions does not mean that all Monero transactions are compromised. Users must remain vigilant and informed about the best practices to protect their online privacy.

This leaked Chainalysis video raises significant concerns about the traceability of Monero transactions. While Monero continues to position itself as a private and secure crypto, users must be aware of potential risks and take measures to protect their anonymity.