The U.S. Government Has Spent Millions Stalking Cryptocurrency Traders

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A new report by research firm Diar has revealed that the U.S. government has gone to great lengths to try and track the origins of cryptocurrency transactions.

Based on the public records, Dira, the research firm has brought some new information to light. Which indicates that the government, through a number of agencies, has spent a total of $5.7 million on contractors to conduct blockchain analysis, including trying to link individuals with crypto wallets.

Though there are tools and even individual cryptocurrencies that purport to allow users to send funds anonymously, the vast majority of cryptocurrency users leave enough of a trail that, equipped with the right tools, investigators can determine to whom a particular wallet belongs.

One of the ways a user’s privacy can be compromised is when carrying out transactions. A reveal can also happen when someone deposits or withdraws funds from a crypto exchange where customer verification details are required. Interacting with another crypto user whose address has been revealed could also lead...

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