this post was submitted on 09 Aug 2024
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Monero

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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

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Criminals are getting better at Wrench Attacks.

Some attacks are now worth millions of dollars.

This is why Privacy Coins are so important, and you should never brag about the size of your bags, and never pay for things from a public ledger wallet where people can trace back to see the size of your bags.

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[–] [email protected] 2 points 5 months ago

As usual, Monero is mentioned as a problem (for criminals) and not a solution (no-one knows your funds). and KYC and CEX are good since the catch criminals.

Either way, the standard rule applies, always have a decoy account with enough money to be plausible that you can give up. Unlike bank accounts or CEX accounts, decoy wallets are easy and cheap and even if you're forced to give it up access, you'll be able to convince the thief and save the rest of your money.