New York, Monday, July 29, 2024- Edward Snowden, the former U.S. security official turned whistleblower, has issued a significant alert regarding Bitcoin’s privacy vulnerabilities.
Speaking remotely via video link at the Bitcoin 2024 conference in Nashville, Tennessee, held from July 25 to 27, Snowden addressed on Friday July 26, the prevalent misconception about Bitcoin’s anonymity.
He stressed that most Bitcoin transactions could be traced back to individuals, posing serious privacy risks.
During his address, Snowden explained that inputs and outputs linked to compliance exchanges could tie transactions to specific users.
This tracking capability can expose sensitive information about individuals’ lives and relationships, he had reportedly said.
Snowden highlighted the growing threat posed by governments and corporations using artificial intelligence to analyse transaction data.
By examining transaction patterns, AI and machine learning can identify unusual activities, revealing users’ behaviour and connections without their consent, he said.
To combat these privacy issues, Snowden called for increased awareness and efforts to enhance the privacy and security of Bitcoin transactions.
He has been vocal about these concerns for over a decade and believes urgent action is needed to address them.
The conference, which featured notable speakers including Vivek Ramaswamy and Cathie Wood, provided a platform for industry leaders to discuss innovations and challenges in the Bitcoin ecosystem.
For more details, you can visit the Bitcoin 2024 event page.((https://events.coinpedia.org)).
