Monero transactions could be partially traceable

Reports say flaws have been found in the (as of yet) untraceable cryptocurrency Monero. It might be possible to trace transactions with at least to different methods. These methods don’t guarantee to track sent and received Monero coins. But they indicate it might be possible. And chances are there that there are even more flaws in Moneros blockain.

Is Monero traceable? A team of researchers consisting of institutions like the MIT, the Boston University, Princeton, Carnegie Mellon and the Universiry of Illinois at Urbana-Champaign released a paper that shows two issues Moneros blockchain has to deal with. As Wired reported, flaws like the found ones are known as semi-vulnerable methods and can be used to trace back Monero trades which leads to trades that could not be completely anonymous. Although the found problems are more a theoretical than a practical problem the issues could get even more. If and how these can be fixed is not known yet. But it can be assumed the Monero team is working heavily on it. The team behind the XMR currency surely doesn’t want Monero to be traceable and might fix things as soon as possible.

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