BitCluster Claims To De-Anonymize Bitcoin users

There has been a lot of talk about Bitcoin and whether or not it is anonymous. Cryptocurrency experts will gladly point out Bitcoin is not anonymous, but rather pseudonymous. For those people interest in de-anonymizing cryptocurrency, however, BitCluster is a solution looking into. This tool has now been open sourced, and users can download the kit, as well as the database, from the website right now.

Explaining what BitCluster does it not overly difficult, as this open-source tool is designed to analyze Bitcoin transactions. Moreover, this tool can also regroup Bitcoin wallet addresses based on their incoming and outgoing transactions. All of this information is taken from the blockchain, which is available to the public in real-time.

Should BitCluster Be Trusted?

However, there is a twist to this tool, as BitCluster allows for ‘more accurate mapping of entities online activities”. To put this into simpler terms, this tool lets people see patterns between Bitcoin users based on their wallet addresses. That is, assuming one finds out which Bitcoin address belongs to a specific user, which is not always an easy task.

That being said, many Bitcoin users leave some of their addresses in the open. Members of

Read more ... source: TheBitcoinNews