The FBI Gives Out Tips for More Anonymity with Bitcoin

A leaked report from the FBI about Bitcoin gives good advice on how users can improve their anonymity while using Bitcoin.

The document can be found here.

It is entitled “Bitcoin Virtual Currency: Unique Features Present Distinct Challenges for Deterring Illicit Activity”

– Create and use a new Bitcoin address for each incoming payment
– Route all Bitcoin traffic through an anonymizer
– Combine the balance of old Bitcoin addresses into a new address to make new payments.
– Use a specialized money laundering service
– Use a third-party eWallet service to consolidate addresses.
– Individuals can create Bitcoin clients to seamlessly increase anonymity (such as allowing a user to choose which Bitcoin addresses to make payments from)

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About Dave

I have been into financial cryptography and alternative electronic currencies since the mid 1990s. I have attended the Financial Cryptography conference, and have invented patents in the fields of cryptography and security. I've built systems for Visa, the US Federal Reserve, NASD, and hundreds of banks around the world.

Posted on May 10, 2012, in Uncategorized. Bookmark the permalink. Leave a comment.

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