For gamblers, though, the regulation challenge is muted by the anonymous nature of cryptocurrencies. So when we fund our crypto casino account, the only info is the digital code that represents the transaction.
Even if it's anonymous, it is still public information in the blockchain and is traceable...
The actual transaction, what it’s for and who it is going to, doesn’t show up. There is no middle person like a credit card company that knows why we are making a cryptocurrency transaction. This means that crypto casinos present gamblers the opportunity to remain anonymous.
Casinos with a license need to have some Anty Money Laundering Protocols, that's why they ask for KYC, so, this is a lie, Anonymous users on casinos doesn't exist anymore.
Cyberattacks exist in the crypto space. Hackers are out there looking to attack crypto casinos. So the challenge exists regarding a crypto cyber-attack.
Casinos are a target of hackers because they have the feature to withdraw money and sensitive information from customers.
First, crypto casinos don’t require personal information for you to open an account. So even if there is a cyber-attack, your personal info, your bank account and credit card information, where you live, your phone number and social security number, remain out of the cyberattackers hands.
Maybe not when the user opens the account, but they do when the user is requested to do the KYC process.
Second, attacking a blockchain is almost impossible if the chain is Ethereum, Litecoin, Binance, or Bitcoin. The reason is that 51% of nodes must agree to a single attack. So if you aren’t moving a ton of crypto into your account, the chances of a cyberattack on a specific gambler’s transaction is a long shot.
There are other attacks than the 51% attack that we should be worried about, just take a look at Bitcoin testnet 3 and how it got doomed by the users.