Crypto Privacy Controversies: Finnish Police Claims to Trace Monero
The National Bureau of Investigation (NBI), a Finnish law enforcement agency, recently announced that they have discovered a method to trace the privacy-focused cryptocurrency Monero (XMR) used for money laundering. This revelation was made in connection to the cyber attack on Vastaamo, a psychotherapy services provider, and the suspect Julius Aleksanteri Kivimäki.
Kivimäki allegedly breached Vastaamo’s patient database and demanded 40 Bitcoin (BTC) in exchange for not disclosing the information. The NBI identified Kivimäki as the hacker and arrested him in February 2023. However, privacy enthusiasts argue that the NBI’s claims lack verifiable evidence.
The Controversial Claims and Skepticism
Supporters of Monero’s privacy have rejected the Finnish police agency’s statements. They argue that there is no evidence of Monero transactions in the case. Some Reddit users believe that the NBI’s success is limited to identifying individuals who used centralized exchanges to trade Monero with traceable cryptocurrencies. They emphasize that true traceability of Monero is not yet a reality.
Brief Focus on Monero’s Price
Recently, the value of Monero (XMR) has increased by 3.51%, reaching approximately $156.92. This positive trend continues from previous weeks, where Monero saw a 1.0% increase. The all-time high for Monero is $542.33. The trading volume of Monero has decreased by 13.0% in the last week, while the circulating supply has slightly increased by 0.05%, totaling 18.15 million XMR.
Hot Take: Monero’s Privacy Remains Untraceable
The claims made by the National Bureau of Investigation (NBI) regarding their ability to trace Monero (XMR) have been met with skepticism from privacy advocates. While the NBI asserts that they have discovered a method to trace Monero transactions, there is a lack of verifiable evidence to support this claim. Supporters of Monero’s privacy argue that true traceability of the cryptocurrency is not yet a reality. The controversy surrounding Monero’s privacy highlights the ongoing debate between law enforcement agencies and privacy enthusiasts in the crypto space.
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