i was reading that the other day Isthmus. money laundering through block reward was a pretty interesting concept, i thought

midipoet: it's pretty common on Bitcoin

send money to yourself with unusually high fee txs, but only give those txs to a pool you're working with

and they give you fresh, untainted BTC on the other side, less some commission

What prevents chainalys to pick up this route and add it to their BTC/ETH tracing logic?

is the block reward packaged up as one clean output (reward+fees) on bitcoin? i guess it is.

Isn't it what mixers already do? So it looks just like a complicated mixer.

sech1: if it's done subtly enough it flies under the radar - it just looks like a pool paying out shares

it's not useful for obfuscating stolen funds where they're actively watching

but I could see it being used for regular ol' money laundering

"dear IRS, these are proceeds from Bitcoin mining, here are invoices for the mining equipment we purchased (and immediately sold but who's going to check that), and here's our high electricity bill (please ignore the meth cooking facility in the backroom that's actually drawing all the power)"

I heard growing plants indoors also requires lots of electricity

yup

you talkingabout the ETH tx with $2.6M tx fee?

hyc yes, and there has been 3 such transactions so far

The other likely speculation I heard was a pwnd exchange where the attacker is also an Eth miner

Or just wanting to burn their funds

that's not burning, that's just transferring

burn as in change ownership from the exchange to someone else

ah

Yeah they're not going away, but they're not going to the attacker wholly either

emin gun sirer was guessing that it's just someone's API driver swapping two arguments

but I would expect anyone making such an accident would notice after the first time

God I hope not

That guy is very very fired if so

Perhaps move the discussion to -lounge due to topic?

only non-coinbase txn in the bock

pretty old tx what caught your eye?

Almost 50 XMR fee ?

oh what lol

One of my favorite on-chain easter eggs

There were two like that IIRC

iDunk: 156 XMR fee

50 XMR per kb

fluffypony: I think it's only a 0.3kB tx

oh sorry I flipped those around

156 XMR per kb

50 XMR total

jinkies

Also: almost finished rewriting transaction deducibility code to better support incremental updates, so it's easier to get up-to-date useful data on transaction types

Seeing the deducibility of transactions plummet at the CT-changeover point is pretty wild

Anyone running an explorer API is welcome to run the code (will post with instructions when done) to verify the transaction data I provided earlier

Here's the reasoning for the fees in Eth lately: decrypt.co/32145/hackers-blackmail-…h-5-million-of-ethereum-fees-report

Was hackers, apparently

An interesting and inventive way to hold exchange funds hostage while they have a whitelist in place

what prevents the exchange from just moving all funds to another wallet?

It depends -- the hack could be one where they've taken control of the wallet itself, but not the whitelisting they're doing on top of it?

Theres a lot at play, so I'm not really sure.

"control of the wallet"? Can't exchange just use their private keys to restore it and move funds?

Or is it some smart contract shenanigan?

Unless its a cold wallet requiring a lengthy time to retrieve the pk?

for instance split across geographies or something

Not really sure though, just interesting :)

Code for transaction and deducibility analysis and plotting: github.com/SarangNoether/skunkworks/tree/tracing

(you need to supply your favorite plotting tool)

Can you move the Ethereum talk to -lounge please?

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