📉 Governments Urged to ATTACK BLOCKCHAINS: Crypto at Risk?

An academic paper published in the Journal of Cybersecurity has sparked intense debate by suggesting that governments may need to actively disrupt public blockchains—particularly privacy-focused cryptocurrencies like Monero. This comes as regulators increasingly focus on money laundering concerns in the crypto space.

Tactics to Undermine Trust: The author proposes methods like 51% attacks, price manipulation, and Sybil attacks to compromise public blockchains. These strategies, while extreme, aim to destabilize trust in networks like Monero that are designed for privacy. The paper argues that these tactics should be used only as a last resort after measures like wallet blacklisting, transaction monitoring, and sanctions have been tried.

The Goal: Governments may view attacking public blockchains as a way to maintain control and ensure regulatory compliance, especially under anti-money laundering (AML) laws. However, the paper stresses the importance of balancing innovation with user privacy—a key value of decentralized finance (DeFi) and blockchain communities.

Recent Developments with Monero: The paper’s theories have resurfaced amid Monero’s recent struggles. Crypto exchange Kraken delisted Monero in the European Economic Area, citing compliance with EU regulations. Some theorists suspect price manipulation or suppression may be at play to weaken privacy coins.

Critics argue that money laundering concerns are overblown. A 2024 US Treasury report admitted that criminals still overwhelmingly prefer cash to crypto, and even when they use digital assets, they commit crimes that fiat currency could also enable.

This raises the question: Is the crackdown on privacy-enhancing tools like crypto mixers really about AML, or is it about government control over financial privacy? With that being said...get ready for the NWO!

- @Professor Mende - Bonuz Ecosystem Founder out!

#Blockchain #AML #Security #Decentralization  #Freedom