Wrench Attacks Due to Lack of Privacy Are Growing (www.theregister.com)

submitted 10 months ago by [email protected] to c/[email protected]

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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 10 months ago

i try to use monero for every transaction, and if they dont accept it, i ill use exch.cx to convert it to whatever crypto they do accept and send it out from there bags. May look like i own that or the transaction is coming from an exchange but i really do not own that pool of funds, and maintain my privacy by staying in xmr.

[-] [email protected] 2 points 10 months ago

However, the article did mention the word Monero in it.

[-] [email protected] 2 points 10 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.