Would this be the end of Monero? – CipherTrace would be breaking Monero’s anonymity. It has in fact just published 2 patents which relate to technologies that make it possible to trace transactions with the queen of anonymous cryptosystems.
The end of anonymity on Monero?
CipherTrace is a company specialised in blockchain analysis. It works closely with US government entities in the fight against money laundering.
In a publication dated 20 November, CipherTrace announces that it has filed 2 patents relating to technologies to break the anonymity of Monero transactions.
The first patent, entitled „Probabilistic Techniques and Methods for Tracing Monero“, allows the company to assign a confidence index to transactions on a probabilistic basis. This method makes it possible to monitor the entire network and to identify Bitcoin Lifestyle malicious or illegally traded transactions using predefined patterns.
The second patent, entitled „Monero Investigation Systems and Methods“, contains a suite of tools for tracking Monero transactions, dedicated to US law enforcement.
The development of these solutions is part of a $5 million contract between CipherTrace and the US Department of Homeland Security.
To date, the Monero development teams have not commented on the situation. In any case, it will be a long time before the difference is made between the announcement effect and a real „breakthrough“ that will make some people grind their teeth.