• 23 July, 2024
News

Is Someone Spying on Bitcoin Users? Developer Reveals Troubling Discovery

Bitcoin users may be at risk of having their IP addresses collected and linked to their Bitcoin addresses, violating their privacy, according to a Twitter post from pseudonymous Bitcoin developer, 0xB10C. The developer warns that an unknown entity, which he referred to as “LinkingLion,” has been active since March 2018 and has been using a range of 812 different IP addresses to open connections with Bitcoin full nodes that are visible on the network.

Once a connection is established, the entity asks the node which version of the Bitcoin software it is using. While this behavior may not be a cause for concern, the entity sometimes listens for inventory messages that contain transactions or sends a request for an address and listens for both inventory and address messages.

0xB10C warns that this could indicate that the entity is trying to determine if a particular node can be reached at a specific IP address.

The developer has expressed concerns that the entity may be collecting IP addresses and linking them to Bitcoin addresses, thereby violating users’ privacy. The entity’s IP addresses have appeared on several public posts from Bitcoin node operators over the past few years, according to 0xB10C.

It’s worth noting that blockchain technology is intended to be secure and resistant to attacks due to its decentralized and distributed structure. However, there are various security vulnerabilities associated with using cryptocurrencies, including the possibility of theft, hacks, and fraud.

Hackers can take advantage of flaws in exchanges, wallets, and transactions, while consumers targeted by fraudulent transactions have little recourse because cryptocurrency transactions are irreversible.

0xB10C is a Bitcoin app developer and the creator of several Bitcoin analytics websites, including Mempool.observer and Transactionfee.info. They have also received a Bitcoin developer grant from Brink.dev in the past.

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