A newly leaked video has raised worries about the privacy of Monero (XMR) transactions. It seems that the blockchain analysis company Chainalysis may have found ways to track these transactions, which were thought to be impossible to track before. The now-deleted video makes it seem like Chainalysis might be able to find Monero’s transaction data and the IP addresses that are linked to them. This makes it seem less likely that the cryptocurrency is totally private and safe as it claims to be.
Monero has long been known as a cryptocurrency that cares about privacy and gives users a high amount of privacy for their activities. With its own network of “malicious” nodes, Chainalysis may have been able to keep track of Monero transactions since 2021, according to the report. Chainalysis could collect information like transaction IP addresses and timestamps by having many Monero nodes in different places. This would make it harder for Monero users to remain anonymous. Using fake entries, also known as “decoys,” could help track these activities even more.
Some people in the Monero community are not worrying just yet, even though this news may seem scary. They say that Monero’s private features are still in place for most users and that only a few transactions might be able to be tracked. Still, the information that got out has caused a lot of discussion, with some people questioning whether or not it is moral for Chainalysis to watch events on a blockchain that is supposed to keep user data safe.
As the talks continue, people who care about privacy and people who use Monero are keeping a close eye on the situation and waiting for more to happen. Chainalysis wouldn’t say anything about the leak, but it did bring up larger issues of privacy in the world of digital currencies and how much companies should be able to track blockchain activities.
