Bitfury Denies Roger Ver's Claims of Spying on and Selling User’s Transactions

Roger Ver of Bitcoin Cash recently called in on another US-based blockchain software and hardware firm Bitfury to stop spying on and selling their data. In his recent talk with CEO of SBI Holding, Adam Traidman, Ver took the opportunity to criticize Bitfury. According to Ver, Bitfury’s part of the business was responsible for the spying on users’ transactions and selling their data.

The bitcoin hard fork advocate, Ver, said that Bitfury maintained a low limit in block size as it is easier to spy on everyday and thus create hurdles in realizing cryptocurrencies as world currencies. According to Ver, they (Bitfury) were advocating tool and policies against users’ privacy of their digital assets.

While Kyrylo Chykhradze, the head of Bitfury Crystal previously said that it was easy and possible to track on Bitcoin [BTC] and Bitcoin Cash [BCH] blockchains with the help of the exchange’s analytics arm. Chykhradze was also aware that they were able to determine addresses belonging to specific users. In addition, he said, “Crystal, which has assisted financial institutions and law enforcement in identifying and tracing criminal activities such as extortion and money-laundering, assigns a risk score based on every bitcoin address that has ever appeared in the blockchain.”

An Update From Crystal Blockchain B.V. CEO:

“As CEO of Crystal Blockchain B.V., I would like to clarify the nature of Crystal Blockchain’s product. The Crystal platform provides analytics and visualization of publicly available data on blockchain transactions. Our mission is to destigmatize crypto assets by providing information about publicly operating entities, such as exchanges, payment providers etc. As such, Crystal provides a comprehensive view of the public blockchain ecosystems and uses advanced analytics to map the flow of the transactions and identify patterns and relationships between the known institutions that have importance for compliance purposes of digital asset market participants.”

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Luice
Luice
Luice has been playing with words for a living since 2016 and has developed a keen interest in writing on cryptocurrency, medical marijuana and financial markets at-large. Having previously worked with SpringerNature, apart from writing, what sparks synapses in him is football, mandala art and high altitude trekking.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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