Post
Topic
Board Bitcoin Discussion
Merits 4 from 2 users
Re: Blockchain Analytics is More of an Art Than Science
by
Adbitco
on 28/08/2023, 22:48:57 UTC
⭐ Merited by LeGaulois (3) ,JayJuanGee (1)
Such softwares used for tracing addresses only instigate stress on a victim that got scammed or lost their coin. A scam victim, who wants to track the address where he/she sent a transaction, needs to bring evidences; chats, photos and money to the agency that claim to trace blockchain transactions. Most victims end up losing more money added to the lost money. Its existence also gave birth to fraudulent agencies claiming to retrieve lost coins or tracking a scammer; with the slogan, a person that fell for scam can easily fall again. The results always appear differently based on the software used to track an address. If the software can't retrieve the lost coin, why depend on unrealistic results, in the name of tracing a person who may not be behind the crime or scam?

Why then the software is implemented?
There's no usefulness of that software since it can't retrieve back also lost coin, as I believe that there are two things possible..
A lost coin may either go an active wallet or a dead wallet (inactive) whereby any transaction that occurs between these wallet address can be seen but can't be touched since those addresses doesn't bear bearer names on them and it could be only possible if they sent to exchange address. For Instance, if lost is mistakenly sent to exchange address at this point it's possible to contact the exchange about the funds that was mistakenly sent at this point their software is valuable but doesn't guaranteed a total dependency.