The United States government has weakened a key selling point of bitcoin

The United States government has weakened a key selling point of bitcoin: the ability to protect user privacy.

The United States Office of foreign assets control (OFAC) for the first time the digital currency address associated with a particular person, to help promote the two alleged bitcoin to pay the ransom in Iran personal sanctions.

The U.S. Treasury branches in a statement on Wednesday that Ali Horashadyszard (Ali Khorashadizadeh) and Mohamed Gorbanya (Mohammad Ghorbaniyan) to help Iran hacker these bitcoin payment in exchange for local currency.

OFAC disclosed the specific address of bitcoin payment, this is a unique combination composed of random letters and numbers, on behalf of the bitcoin destination, which makes the privacy of bitcoin payment has been questioned. This shows that the U.S. authorities are trying to eradicate the bad behavior of encryption market.

The United States Treasury for terrorism and financial intelligence, Vice Foreign Minister Singer Mandelk (Sigal Mandelker) said in a statement, “we are released a digital currency address to identify illegal activities in the field of digital currency.”

“The U.S. Treasury will actively track down Iran and other rogue regimes, trying to use digital currency and network aspects of anti money laundering and anti terrorist financing measures / weaknesses, further to prevent the evil target.” He said.

Bitcoin digital currency is the largest in the world, its original design is not under the control of the government, for any party does not know the true identity of each transaction convenience. However, although the pay is anonymous, but they are not private, because they are recorded in the name of block chain in a public database. In addition, some companies can track digital assets in between the mobile wallet.

Some were initially attracted behind bitcoin concept of encryption is now moving to a large number of other investors, may provide greater privacy of digital assets. Monroe (Monero), including coins, tokens of the so-called “privacy coin” is popular in some areas.

OFAC did not explain how it is to be linked with Hora Saddi Chad and Gore Benny Jan. The agency said that the digital currency should help to address compliance officers should be prevented from recognition and investigation of transactions and funds.

OFAC said, with Hora Saddi Chad and Gore Benny Jan’s address more than 7000 bitcoin transactions worth millions of dollars. Some bitcoin payments from the attacker, the attacker uses SamSam ransomware attacks more than 200 victims.

(source: Friends of financial network)

Leave a Reply

Your email address will not be published. Required fields are marked *