Privacy in an era of Radical Transparency

Transcript

Let me to start uh with introducing myself. So I I am ion chain and I am as leot on chain. So doing investigation on exploits um criminal activity and this like of stuff and uh I have I introduce um actually the main problem of the blockchain. So people thinking um the blockchain give them privacy from the beginning uh like using checks and uh so infl um open a wallet uh folded with with checks and uh

so for them that that that it means uh is uh is the normal standard pro process for uh embark on the on the blockchain. But um from the beginning um the the the blockchain was created with the promise of fostering uh sovereignity individual through uh radical transparency and uh at the same that same transparency uh original future has quite become one of the biggest uh vulnerabilities and um people doesn't understood what uh what it means doing uh a lot of transactions

uh interaction with apps minting NFTTS and all type of action you you can do on on the blockchain so let's start to the uh transparency paradox uh let me slide so um In this presentation, uh I will explain what what is the main character will be broke the the the blockchain. Uh sorry guys, what will what will broke the the privacy on the blockchain? So um

the the onchain surveillance uh at the moment uh we can do a lot of things on the blockchain. So we can uh we can do a lot of we can do a lot a lot of type of action and uh people after doing every single uh action they don't think about this uh um all these events will be uh storage and will remain like a digital footprint on the on the blockchain and everyone can uh check that analyze that and do some some research for find some information

related to the individual or the entity. So let's take an example like people they love use ENS name or use NFD like uh as a PFP on on on X or maybe uh use uh the new um new era of web three social platform like forecaster the bank uh and the and etc. uh other things uh like to do uh participating to ey drop giveaway and so publish them address on on X or maybe just connected to um a

list where where where you can view if you your wallet is eligible to their eyrop um and constantly um using the same DAS and the same protocols and all All all of these type um of interaction they leaving some um so many information and how we can pro it. So we very simple things via oint. So uh I think is the main um is the main weapon uh people can use for track an individual or NP just taking

just um like a trace uh this type of interaction I mentioned before and uh it's very easy you you don't need it any type of skills like to be a tech guy uh or like a hacker or something like that but just using um onchain traces and uh you can rebuild the old history um did the individual behind the vault. So um most of the time I think uh the the main things uh I use it I have used it for

truck criminals and uh exploiter um it was the ENS name. So people they love use it for everything. So he made someone mint ins name and at the same time using the same name for and personal uh his personal uh social media accounts. It's very easy uh track it with only um using a different combination Google parking.

So um just searching on Google and you can um you can find everything related that guy uh or other things it's very enthusiast about his NFT collection maybe is the I don't know part of community uh of bidate or crypto banks maybe so you can use the the p the the NFT for truck or the wallet or maybe uh directly with um Google via the search search you can find all the suits at the same PFP and uh so that's very

big damage so people literally doxed themselves with living this type of information uh other very um practice most use it from the user on the blockchain. So it's to share them address publicly on under a tweet uh for um participating a giveaway air drop and this like stuff. Uh and the last things I think very damage for people is like using the bank they introduce the part of social media.

You can share all type of content you want like or like for caster the same things it's very easy uh find the the hand behind the wallet because you can share your uh discord account your account with connect connect it with the bank or or other social media but for most Uh so that is the I already state that so but we can we can talk about other things. So from this digital footprint like DNS, NFT and social media platform

you can track um the entity behind just using other uh um most used on the OC format like um you can cross check the information you have extracted from uh that type of interaction. uh using data bridge you can find a lot of type of information so like on on crypto happening so many data breach like um I don't know bit bit um it was breached all of of checks was was breached and just you using the username you can find the name and surname and

you can just try other combination of hos and via um data bridge can cross check the information and match it and for for identify the individual or the entity behind it. So it's very easy. There are many providers actually uh giving the easy access to um take um easy subscript subscription for um check the information in your head. uh so I think the this is one people thinking uh are very easy and don't about what

they need to manage uh them um them wallets or uh them action on blockchain. So the obstac is the most important things. Um the people using only one wallet for everything. So let's take an example uh a subject meets domain then starting to do so many transaction uh using the same dots uh post his word everywhere.

um and without using multiple wallets for change [clears throat] his routine uh on on blockchain. So uh it's very easy uh in any type ofation I did like minutes for someone behind activities uh and the people don't think to use multiple wallets like one of jobs way and it's like one wallet for him things like uh for manage this

collection one for trading on defy uh or maybe using for moving funds to defy checks. Uh so people give um the things like standard so normal it's uh it's very important to to take high your sec uh the the transaction. So that is um I think it's the pillar of privacy because most of the time let's take an example the cases have I'm actually managing for truck exploiters

uh it's one of the par parameters I'm using for broke uh the identity of the individual. So uh most of the time the exploiter using the same uh strategy how how they move in the funds like they found uh a wallet with a tornado cash or a rail gun then they split the uh the phones or um to multiple wallets and uh they start to uh attack the the DS. uh let's take an example uh uh in the case of arc arc digital per text where uh I have finded the

explan just using the timing analysis um where in the in the same days he did the same transaction um using one vulnerability inside the DS and he did um a collateral uh and this is a pattern people don't think about uh it's I think the the pillar of everything. So uh you can uh you can image um very easy uh just memor memorizing the the timing where he did the transaction and which D use uh and

so from that you can directly um intercept the guy. Uh ZK I think is the the most important things actually is the future for um privacy on chain because there are not um other uh possibility to to take it back um like from the beginning. Um and so ZK uh actually they are using uh not for privacy uh on chain like I want to be um I I I don't want to uh anyone know who

is behind the behind my wallet but uh actually they are using in in in the bad way. So there is most projects very cool like cash uh atte um many uh privacy tools uh but they are most of them they are using very badly like tornado cash ray gun so I think every every every single exploiters uh moves all funds inside tornado cash and um it was also very bad because uh there are many reason where you can uh track

the the transaction you um using um deposited on tornado cash like just using timing analysis uh and the size of the amount deposited inside. Um the the bad things it's uh people like these exploiters um using this this for stole phones for from people then um take take high they trying to take high uh them privacy uh but um not not not uh not all of them there are most practice

is to how mix them money and uh this is the the sympotic things because um in other one case I got someone uh phon uh his wallet use it for do um for do an exploit. Uh it was funded uh 24 hours before uh using a checks. So it was like uh broke his hops like uh 10 minutes and that's this is the bad things because there there are not many good motivation uh from the users using this um this

these dubs like tornado or rail gun um for take privacy because now actually they are all of them sanctionated by um the And um uh it's it's it's not the the it's not a good reason why the you you need to take your privacy high. So um I think uh project like like Zash um attempt um privacy pools uh they did uh they are doing a good work actually for um taking

back uh in a good way um the the technology zero knowledge. The main uh the main uh important things is to use these protocols in a great way for for for the real reason uh for take care about uh your hopsc uh your privacy and don't uh for take for don't take any type of risk or the anonymize yourself um very easily and uh so I think uh Blockchain is a freedom for everyone and there is not um a good reason for try to

uh take him for from someone even if uh he did something off Frank. And um the the the ethic of the zero knowledge is to to take privacy for uh and take care about yourself um for your information and um don't risk uh any bad situation like um so many KS sharing them PNL or showing them address on X and uh for the hand been so many times uh where they kidnap uh this this type of people showing and

doxing themsel on social media. Uh it's very badly to to see that that that this bad this type of stuff. So I think um the use case the main use case is or don't risk this type of situation and um and take care for yourself. So that's it.