The tradition of informing users and protecting fellow investors from possible fraudulent exchanges and wallet is one that cryptocurrency users are known for.
Sharing firsthand experience on yet another privacy contradiction, crypto users have piled up in their numbers to express disappointment over the privacy of invasion Samourai Bitcoin wallet to customer funds. A Reddit user under the moniker “Etovia” had made a warning post a week ago on Reddit and users have since been sharing similar experiences.
Etova warned users to be vigilant and be very watchful and explained that the wallet requested users to open RPC access in order enable users to own full node and get trusted node mode in return, a privacy contradiction requirement that is usually best carried out when the wallet communicates via P2P to users node.
Referencing that IRC also warns about wallets requesting RPC access, due to the harmful security threats it poses to users wallets. Another user whose account has apparently been tampered with aligned with Etovia’s allegations, suggesting that Tor browser is the best way for wallets to run a full node in their quest to maintain strong privacy.
The user under the pseudonym “nullc” disclosed that the Wallet had previously been caught and seem to be lying about their privacy manipulations.
In his words ;
“Samourai has very poor privacy while bragging about having good privacy: It sends your addresses all back to their server. Their “trusted node” mode doesn’t change this, it just exposes your Bitcoin node to attacks completely needlessly. (Needlessly because they only use it to relay transactions, which they could do via the public P2P ports of any node, and because since they’ve already sent your addresses back to their server sending your transactions via something else doesn’t increase your privacy.)”
Reddit users have been actively speaking up about several other exchanges and wallet that endangered user funds. Hitbtc had previously been dragged by users due to increased withdrawal charges. After a handful of users termed the exchange as a scam, John McAfee followed up the exchange posting public allegations and conclusively filing a lawsuit against the exchange.