Nassim Taleb, the author of “Black Swan,” has criticized Monero, a privacy coin that has been touted as untraceable, claiming that it can be traced due to the coin’s lead developer being an informant for Interpol.
Taleb was previously informed that Monero could not be traced, but he now believes this is untrue. Cyber protection researcher Edwards first drew attention to Monero’s developer Riccardo Spagni, who was reportedly detained by United States marshals and later outed as an Interpol informant.
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Edwards suggested that Spagni had assisted United States marshals in tracking Monero and stated that researchers had already figured out how to uncover almost half of all Monero transactions.
Nassim Nicholas Taleb recently made a sarcastic comment about Monero in a tweet in response to rumors about the privacy coin’s lead developer being an informant for Interpol. Taleb had believed Monero was untraceable, but he recently claimed that the coin could be traced because its lead developer is a mole for the International police.
Initially, the cyber protection researcher James Edwards, known as @librehash on Twitter, brought attention to the fact that Riccardo Spagni, the main developer of Monero, had been arrested by United States marshals and had subsequently revealed himself as an informer for the International police.
According to Edwards, Spagni assisted United States marshals in tracing Monero, a cryptocurrency emphasizing privacy and anonymity. Edwards also notes that researchers have discovered a method to uncover almost half of all transactions conducted using Monero.
Spagni Responds to Allegations
Spagni responded to the allegations on Twitter, stating that he has never assisted any government or law enforcement agency in tracing Monero and has never even met with such agencies. Spagni also mentioned that Monero is built on a robust cryptographic foundation and has undergone extensive testing for almost a decade.
Moreover, Spagni emphasized that he has no special access or privileges to the website, GitHub repository, donated funds, Monero’s code, DNS records, Twitter account, or any other aspect of the cryptocurrency’s infrastructure.
Spagni further asserts that he cannot provide government authority with anything beyond publicly accessible information about Monero. Spagni also mentioned that he would never regain access to Monero’s codebase and similar resources.
The accusations against Monero’s lead developer Riccardo Spagni have raised concerns among investors of the privacy-focused cryptocurrency and the broader crypto community. These allegations, which were brought to light by cybersecurity researcher James, suggest that Spagni had been detained by United States marshals and revealed himself as an Interpol informant assisting in tracing Monero.
The situation has generated uncertainty and unease among Monero investors and cryptocurrency enthusiasts. However, Monero’s emphasis on privacy has made it a popular choice among individuals who desire to execute transactions without the risk of being traced.
The cryptocurrency achieves this by implementing various advanced cryptographic techniques that obscure the transactional history and participant identities. This feature is particularly attractive to those who prioritize anonymity in their financial dealings, such as individuals living in politically unstable regions, victims of financial censorship, or simply those who value privacy in their financial affairs.
If Monero’s supposed anonymity is discovered to be less secure than previously assumed, it could have significant consequences for the cryptocurrency’s prospects as we advance. Additionally, the accusations against Monero’s lead developer have brought to light concerns regarding law enforcement agencies’ level of access and monitoring capabilities concerning crypto exchanges.