Attacks that unmask anonymous blockchain transactions can be used against everyone who ever relied on the defective technique


#1

Originally published at: https://boingboing.net/2018/03/27/perfect-forward-secrecy.html


#2

In the Monero case, it’s especially grave, as the cryptocurrency’s initial adopters were largely people producing illegal substances on dark markets

Or, as Libertarian proponents of cryptocurrencies might describe them, “rugged individualists thumbing their noses at the state.”


#3

Hmm, I never even thought about what happens if the crypto in a cryptocurrency doesn’t work. If Chinese cash-hiders started to worry about the secrecy aspect of Bitcoin, I wonder how that would affect all the people “investing” in it.


#4

Oh, nothing to worry about. It’s not like nation-states have hackers working on this who are as 1337 as some Galtian tycoon selling heroin from his friend’s couch (which doubles as an office and a bed!).


#5

All’s fair in love and war.


#6

Bargeld lacht.


#7

The accompanying picture is ridiculously perfect. :slight_smile:


#8

I want my DMT damnit!


#10

i won’t stop wearing this shirt till everyone agrees:

https://www.amazon.com/dp/B079XBL1KR

shrt


#11

Cash does not pose this problem. Cash forgets where it was.


#12

It’s not a special problem of blockchain anonymity because anonymity of any kind has never been the same as unidentifiability, and becomes increasingly less so the more data that is available regardless of what kind or realm of anonymity it is.


#13

A significant fraction (91%) of non-RingCT Monero transactions with one or more mixins are deducible (i.e., contain at least one deducible mixin), and therefore can be conclusively traced

No they can’t. There’s a probability distribution you can find the sender’s address on the blockchain. That’s it. Nothing more. Nothing less.

What’s more though, this is exactly how Ring Signatures intended to work - in other words, this was already known… By EVERYONE.

I wish I kept track of all these horrible articles. There’s been like 4 this week, and if you asked any one of the contributors to the project we literally could have told you. But no, continue going off on your little tangents. Really gives your journal a good rep :slight_smile:


#14

Just as a side note, I would like to teach you all about how Monero works. There’s 3 parts to it:

Ring Signatures hide sender
RingCT hides amount
Stealth Addresses hide receiver

There are other components, but this article is referencing Ring Signatures, Monero’s weakest part. With that said, however, Ring Signatures are not required to make the transactions anonymous- They only aid and boost the process.

You can learn more about Ring Signatures here, in a very educational video and channel: https://www.youtube.com/watch?v=zHN_B_H_fCs


#15

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