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In August 2020, renowned blockchain auditing and security firm CipherTrace announced that they had developed the world’s first Monero tracing tool in collaboration with the United States Department of Homeland Security.It feels like there is a constant effort to shut down and delegitimize Monero by regulators. In December last year, the IRS offered a $625,000 bounty to anyone who can crack Monero’s privacy. This just goes to show how big of a deal Monero actually is and if you want a confirmation of that in practical terms, here is a simple example.
The Monero dev team quickly responded to CipherTrace’s announcement, revealing that a new algorithm called ‘Triptych’ was in development, which promised to protect users against the reported detection methods.
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Highlights
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