• Sat. Aug 19th, 2023

Shock: Trezor Learned How to Mask BTC Transactions!

May 10, 2023
Shock: Trezor Learned How to Mask BTC Transactions!
Marcel Bich

Trezor, a manufacturer of hardware crypto wallets, now supports BTC transfer anonymization technology.

Trezor, a hardware cryptocurrency wallet manufacturer, has announced a new feature that allows Bitcoin (BTC) blockchain transactions to be disguised. In collaboration with Wasabi Wallet, the company has developed technical support for the use of CoinJoin technology, which enables Trezor wallet owners to conceal personal information during cryptocurrency transactions. This was revealed on the corporation’s blog.

Here’s what Trezor declared:

“The blockchain itself may be examined in various ways to create a profile of specific people because BTC is transparent. You may start over by using CoinJoin without leaving a trace that a hacker can use against you.”

The innovation is available via the Trezor Suit online interface for the Trezor Model T wallet, but it is not yet clear whether it is compatible with other Trezor wallets. The corporation has also cautioned that some cryptocurrency exchanges may stop accepting transfers made through CoinJoin, and users should carefully review the companies’ terms of usage to address the issue.

In exchange for the service, Trezor will charge 0.3% of the transfer amount, not including fees to miners. The company advises using CoinJoin for transfers starting at 0.1 BTC (about $3000 at the current exchange rate) due to the inefficiency of smaller transfers from an economic standpoint.

Previously, the editorial team had reported that Wasabi Wallet would block addresses that make CoinJoin transactions unclear. It is unclear why the filtering was implemented, but the media speculated that it was done to prevent hackers and scammers from concealing their tracks. Representatives of the privacy-focused Samourai Wallet questioned Wasabi’s decision to prevent transactions with CoinJoin, stating that the filtering was “an attack on everything that was meant to make Bitcoin special.”