In an unexpected turn of events, CipherTrace, the crypto intelligence firm, announced today that it has developed a tool to track transactions in Monero (XMR). How can it be possible ?!
Will Monero lose popularity in the crypto community?
It’s no secret to anyone that one of the main catalysts in the popularity of Monero (XMR) has been its privacy-focused design. In fact, it is precisely this that positions it as the second most popular cryptocurrency to carry out illegal transactions on the Dark Web.
Certainly privacy and anonymity are one of the main benefits, or disadvantages, that cryptocurrencies have. However, it is not actually that anonymous.
For this reason, people turned to Monero when looking for more privacy. But, it seems that this is over.
Today CipherTrace claimed to have developed a series of tools that can “Track and visualize Monero transaction flows.”
“These tools include transaction search, exploration and visualization tools for Monero transaction flows… This provides ways to track stolen or illegal Monero coins”added.
In this sense, the tools have been designed for the United States Department of Homeland Security (DHS)Although, CipherTrace ensures that crypto exchanges and OTCs will benefit from it.
However, at the moment there is no evidence regarding the existence of this tool, beyond the CipherTrace press release.
Therefore, even the crypto community on Twitter remains skeptical about the existence of such tools.
“There is no reason to think there is anything new here until proven otherwise”, tweeted Seth Simmons.
Is it true? Will the privacy era in Monero be over?
Justin Sun does it again and launches a new crypto
Once again, the CEO of TRON, Justin Sun, gives a lot to talk about on the social networks of the crypto community, after announcing his latest project today. Nothing more and nothing less than a DeFi coin with your name.
Yes, as you read it, today Sun announced $ SUN through Twitter and Medium. According to the statement, the mining of $ SUN will begin on September 2 and the coin will be officially launched on September 16. Additionally, $ SUN will promote SUN Finance, a DeFi smart contract.
In this sense, $ SUN seems to be another governance token that will be used for «promote the vigorous development and possibilities of TRON’s DeFi self-governance community«.
Charles Hoskinson says Cardano’s Stablecoin will be better than MakerDAO
The DeFi crypto fever itches and spreads. The last to comment on this was Charles Hoskinson, founder of Cardano, who commented yesterday that IOHK plans to enter the DeFi space soon.
The growth of the DeFi industry has been extraordinary, and more and more projects are beginning to pay attention to it. In this sense, Hoskinson said yesterday on YouTube that he has been studying the sector for some time.
So much so that they have partnered with Emrugo to build a Stablecoin in Ergo, with the aim of verifying that everything works and, subsequently, doing it in Cardano. Hoskinson assured that this Stablecoin “will be significantly better than MakerDAO.”
In a few lines …
- Carylyne chan has decided to leave the position as Acting CEO of CoinMarketCap along with two of her colleagues, Jeremy Seow and Spencer Yang.
- Warren buffett It reduces Berkshire Hathaway’s reliance on the US economy and Max Keizer believes that could be a catalyst for Bitcoin.
- Binance started a crypto ad campaign on Bitcoin in London.
- A crypto user has been a victim of phishing in the Electrum wallet, losing 1,400 Bitcoins.