Bitcoin has gotten some flak for being able to conceive personal identities of people who use it to make anonymous transactions.
However, in this case of the 12 Russians who were accused of interfering with the 2016 US presidential elections, investigators use BTC as a tracking device. They tracked the entire path through the blockchain and purchase histories to prove the case.
Vice reports that the myth that BTC transactions are completely anonymous is completely false.
Developer Tim Cotten, a blockchain eve, shows how forensic analysts can use the public blockchain’s information to trace and track BTC purchases to the GRU- Russia’s intelligence agency. Cotten talks about how a subpoena would allow law enformcent to find out who made a transaction on a specific day and eventually discovering their details by their name, birthday, and legal residence. He says that:
“Someone with enough time and dedication will be able to trace your path back.”
“It is not a good idea to commit crime with Bitcoin because the moment you have one single weak link in your operational security, all of your history is now exposed. As we’ve seen in case after case, indictment after indictment, where they’re shutting down drug trading, exchanges that are operating illegally, it’s not just traceable – it’s trivial to trace these things.”
Watch the interview on Vice.
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