EU defective Europol: Bitcoin security wallet ‘Not looking good for law enforcement
Europol, the European Union's law enforcement agency, has its eye on the famous bitcoin security tool Wasabi Wallet, documents verified by the CoinDesk program.
Marked just for law enforcement, a two-part report from the European Cyber Crime Center Europol (EC3) analyzed the security tool of the impact on the use of the Bitcoin blockchain to investigate crimes.
EC3 doesn't seem to be doing well in law enforcement thanks to this relatively new software, EC3 warns, citing data from leading blockchain analysis firm Chainalysis estimating the amount filtered through Wasabi for criminal purposes.
According to [Chainalysis], in the past three weeks, BTC with the amount of nearly 50 million USD has been deposited in Wasabi with nearly 30% coming from the dark web markets. in April. This is a significant amount, relatively, since dark web transactions are estimated to have only 1% of the total share of transactions.
Europol's observations of the ribs highlight a lingering tensions between governments around the globe and supporters of Bitcoin privacy. Blockchain is transparent, making it a useful tool for ex-users through accounts and transactions to track down criminals.
On the other hand, privacy advocates who want to make bitcoin transactions more difficult to track, in part so that many will want to use the payment system, but are also a matter of principle.
EC3 operates in the field of fighting crime in the digital age - usually online financial crime. Its report primarily outlines what Wasabi is: A wallet that tries to overcome Bitcoin's radical transparency, giving users more privacy by shuffling transactions together and confusing them. . The second part of the intelligence briefing, published in May, delves into how a law enforcement officer might try to detect Wasabi transactions on the blockchain and how to use the wallet to make the delivery. Translate.
The report has been leaked on Telegram recently and the Europol rib press department has confirmed its authenticity.
Written in writing for a law enforcement subject, Europ Europol's press division told CoinDesk, adding that the report did not contain any operational information. However, it does provide a look into law enforcement. How popular is the service? Reading instructions, answers: Clearly common enough to attract our interest.
It asks whether law enforcement agencies can destroy these transactions, answering that in fact, in most cases, the answer is negative, although if the user is confused, there are many ways to do it.
zkSnacks, the company behind Wasabi wallet, did not respond to a request for comment by press time. A six-figure capital investment last year by Canadian company Cypherpunk Holdings was publicly traded worth $ 8 million zkSnacks.
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