Is Bitcoin really untraceable?

Because of the recent hack , am wondering if is not possible to trace that money stolen using popular people accounts . People life savings are in there

Does it really matter if it is traceable? Even if they find out who did it, they can order that person to pay back the people they stole from, however there is no way they can actually force them to give the bitcoin back. Bitcoin isn't like a bank account where the government can just withdraw funds if they shouldn't be yours.

To answer the question of whether it's traceable - you can trace the the wallet(s) the bitcoins were sent to and then any bitcoins these wallets sends to other wallets. So then it depends where thief's wallets are stored, or rather if any of these wallets rely on an online aspect that would allow the their IP to be logged - but I would expect they are just using offline wallets to limit the ability to trace the actual person who now has the coins.

The only feasible way of tracing who stole the money will be to try and determine who accessed the stolen wallets if they were stored online, and to go from there. If they have no information based on the thief accessing the victims' wallets, it will be very easy for the thief to be untraceable.

Its a really interesting topic bro
I think it wont work anymore

Nobody ever said that crypto is untraceable.

Know what? It is so easy to trace it, easier than to buy something with money.

Crypto is "numbers" and "math" = everything is logical and the crypto has to know where it may go and which way to go to reach someones wallet.

Crypto is easy to trace.

Yes it is tracable, would not recommend using BTC for blackhat activities

well this is news to me, i thought bitcoin was untraceable, well that is what i been told. so basically it can be traced like other currencies, bummer

i thought bitcoin was untracable lmao o.o everybody says its the most secure

22-07-2020, 01:18 PM

Humanplus Wrote: Nobody ever said that crypto is untraceable.

Know what? It is so easy to trace it, easier than to buy something with money.

Crypto is "numbers" and "math" = everything is logical and the crypto has to know where it may go and which way to go to reach someones wallet.

Crypto is easy to trace.

well it is news to me, i always thought it was untraceable, reading your post i have to do some research on this

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18-07-2020, 04:13 PM

Iroh Wrote: Does it really matter if it is traceable? Even if they find out who did it, they can order that person to pay back the people they stole from, however there is no way they can actually force them to give the bitcoin back. Bitcoin isn't like a bank account where the government can just withdraw funds if they shouldn't be yours.

To answer the question of whether it's traceable - you can trace the the wallet(s) the bitcoins were sent to and then any bitcoins these wallets sends to other wallets. So then it depends where thief's wallets are stored, or rather if any of these wallets rely on an online aspect that would allow the their IP to be logged - but I would expect they are just using offline wallets to limit the ability to trace the actual person who now has the coins.

The only feasible way of tracing who stole the money will be to try and determine who accessed the stolen wallets if they were stored online, and to go from there. If they have no information based on the thief accessing the victims' wallets, it will be very easy for the thief to be untraceable.

so it is possible for it to be untraceable, good post, i will look into this

Bitcoin is tracked, of course, since all transactions are visible. In addition, there are software tools that allow you to establish a chain of transactions. And if along the way somewhere there was an address belonging to some service or crypto-exchange, then it is possible to get other information, except for the wallet.
I recommend using Monero.

Bitcoin is great but not worth to pay in all.
They see your payment everywhere