Post
Topic
Board Wallet software
Re: Wasabi Wallet - Total Privacy For Bitcoin
by
BlackHatCoiner
on 19/12/2024, 09:25:15 UTC
You called ChipMixer more effective than Whirlpool and Joinmarket.
Asides from custody and trust in not keeping logs, I still stand by that assertion. It's just seems arrogant to argue today, because ChipMixer was a trust-requiring, single point of failure, that was taken down, and that the other solutions we now have are self-custodial.

And that's true. It is arrogant. These two properties are two important to overlook. However, if we do overlook them, coins sent to ChipMixer were not connected via blockchain transactions, and that greatly increases the anonymity set, because the analyzer has to take into account all UTXO in the blockchain with amounts 1 mBTC, 2 mBTC, 4 mBTC etc. This is clearly bigger set than all the outputs of a coinjoin.

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Here is a final one although I could probably find more by searching other keywords.
And I could probably find 3 posts in which I claim that Monero or coinjoin is better than using mixer for every such post you find. It's just that until 2022, I did not possess the same knowledge that I do now.

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It is about Chipmixer and those shilling for it being caught lying about "time travelling". The hacker could have done everything perfectly and it wouldn't change the fact that Chipmixer was scamming users.
I'm quoting a ChipMixer post about KuCoin hacker:
KuCoin investigation shows that hackers (that unfortunately used our service) deposited large and much above average amount of funds into address (later identifed as ChipMixer deposit address) and then sweeped same amount of chips next block. They did this multiple times - each time joining sweeped funds with previously sweeped funds. If address A has 123.456 BTC while address B has 0 - then after 100 blocks address A has 0 BTC while address B has 123.456 (minus mining fees) any blockchain analysis will know. This is post-mix behavior that makes you lose privacy.

There's nothing particularly wrong that ChipMixer did to this user, and to no other user. All of us had the option to withdraw chips. The hacker just had above average amount deposited, and withdrew it in the most inappropriate manner.

And in case you think ChipMixer did not warn against that as a practice, here are their best practices from web archive:
Delay your withdrawal

Your deposit transaction is recorded on-chain. If you withdraw instantly especially large sum or unusual combination of chips at once then it can decrease your privacy. On the other hand if you keep some time between receiving chips and using private keys then your privacy grows with each ChipMixer deposit and withdrawal.

Plan your chip size

You know you will pay 3.5 mBTC every week. You mix 12 mBTC and receive 8 mBTC and 4 mBTC chip. If you withdraw them like this - two of your transactions will be linked. It is better to split 8 mBTC into two 4 mBTC chips to have them ready for each payment.