Danish Police can track bitcoin transactions

It seems Danish Law Enforcement have developed a tool to track certain blockchain transactions:

The new specialized IT-system, developed by Danish law enforcement agencies, is based on comparing the information of two different types of bitcoin transactions. First, transactions where bitcoins are used to purchase goods are analyzed by exploiting the possibilities of blockchain technology, which bitcoin is based on. This information is then compared with listings of bitcoin-buyers and bitcoin-sellers.

From here: https://thenextweb.com/eu/2017/02/21/danish-police-hunt-down-criminals-using-bitcoin/#.tnw_IdxHqa3B


Comments


[15 Points] Thoughtsofamaniac:

Maybe I'm offbase and just being hopeful but it seems this could be defeated by just obtaining and spending bitcoin in different amounts than are actually listed on the market sites. It sounds like what they're doing is using software to identify and make note of prices in btc on the marketplaces, and then going through the blockchain and looking for transfers for exactly or near that amount. If that's the case, buying btc in increments and using different wallet addresses, and transferring a bit more than you need or transferring to market wallets in increments, could fuck up at least one side of the profiling. Nothing to do about the profiling of market prices but obfuscating the wallet IDs that are sending to the markets via tumbling or using separate wallets to make the deposits seems like it would be enough.


[11 Points] None:

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[9 Points] mymuse100:

First the danish track the trolling with trolltrace now bitcoin whats next


[5 Points] None:

How can the average user protect themselves from this?


[3 Points] MitalikaSucks:

Are they able also to overcome tricks like tumbling, or it is just a tool to follow bitcoins?


[3 Points] neovngr:

apologies if I'm out-of-line saying this, but....wasn't this obvious for ages, isn't it inherent to it? If you're obtaining the initial bitcoins anonymously, then you're blocking probe, but insofar as tracking bitcoins, the blockchain itself, and comparing that to sales - I thought it was understood that this has been being done for a while?


[1 Points] kameerem:

1: find item on a market(assume high price for the sake of making the example more clear)

2: Deposit into market

3: coins get put into market hot wallet

4: order from vendor

5: coins held in escrow for ??? time

6: coins released to vendor

7: vendor takes out coins to personal wallet

8: vendor cash out said coins after ??? time

am i missing something or is this just pure stupidity? only victims of this would be DD vendors.


[1 Points] Extaz:

Cmon give up ffs. The war on drugs has failed and it only costs society and individuals money by continuing doing this. In fact they could make society more money by legalizing or for a start decriminalising drugs and all of us would benefit from it.


[1 Points] None:

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[1 Points] None:

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[0 Points] jaredf0f:

Seems like a load of bullshit to me, they brag about their revolutionary bitcoin tracking software and how all the LE agencies in the world are looking towards Denmark right now, which is just a load of crap. Their "system" supposedly compares the "information" of the 2 types of bitcoin transactions. Has anyone here ever heard about the two types of BTC transactions? I do not.


[-4 Points] None:

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