Privacy coins have come under a lot of scrutiny in recent months. Europol is keeping a close eye on these developments, albeit Monero remains impossible to trace or analyze.
Government officials dislike bitcoin, but they see privacy coins as even bigger threats.
Monero Causes Headaches for Europol
Particularly currencies which put anonymity first tend to receive a lot of negative attention.
According to Europol, Monero remains the biggest “problem” in this department.
One particular investigation shows how difficult it can be to seize Monero.
More specifically, the culprit used a combination of Tor and Monero.
While Tor does nothing to hide traces of cryptocurrency transactions, Monero is private and anonymous by default.
The Europol investigators were unable to trace the funds, nor could they unmask the IP address hidden by Tor.
Even blockchain analysis firms cannot put a dent in Monero’s native anonymity solutions.
While those companies can trace bitcoin and ethereum, things are different where real privacy coins are concerned.
Once funds are moved to Monero – regardless of by which means this happens, criminal investigations tend to hit a wall.
This is the strength of Monero and a key example why privacy should never be an opt-in solution.
Such features need to be be provided by default to all users.