Post
Topic
Board Wallet software
Merits 6 from 2 users
Re: Wasabi wallet data privacy questions
by
o_e_l_e_o
on 19/07/2023, 14:20:08 UTC
⭐ Merited by 20kevin20 (5) ,DireWolfM14 (1)
In your opinion what's right to do if your wallet with 1 btc gets hacked. On blockchain you trace funds were sent to wallet bc1xx so you report it to police. A month later the coins moved to Binance. Soon your coins will be returned because they've been seized after blockchain analysis. That's happening now with exchanges so it can't be a bad process reuniting owners with stolen coins.
There is a difference between a centralized exchange responding to police requests, and a so called "privacy" wallet enforcing censorship based on secret blacklists. There is no presumption of privacy if you use Binance, and they certainly don't market themselves as the ultimate privacy solution as Wasabi do. For every criminal's coins which are seized, there are dozens of innocent users also having coins seized because Binance have decided they are tainted or some other such bullshit.

If you lose your coins, then that sucks for you and I'm sorry to hear it, but I will never defend compromising the privacy of everyone else who uses bitcoin to make up for your mistakes, just as I will never defend mass surveillance of an entire country to stop a single criminal.

It's been mentioned zkSNACKs can't link incoming UTXO's to outgoing UTXO's so that's good for privacy if true.
This is true, provided you are lucky enough to get your coins in to a Wasabi coinjoin which does not have a critical flaw, of which there are many. But that's also the bare minimum you want from a coinjoin, and you can achieve it without using Wasabi spywate via either Whirlpool or JoinMarket.