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2 hours ago, Tinyaccount said:

Um, that kind of depends on what you mean by 'track'.   A cold wallet created off line is not easily tracked, but if it is to be of any use it must have funds moved into it.  At that point it absolutely becomes trackable because it is in the Ripple ledger.  An interested government can look at every aspect of that wallet and where the funds came from and where they go.  In fact each transaction into or out of it lights up the other party.  So I don't think I can agree with your statement because it's only true if the wallet is never activated or used.

I guess I wasn't clear - I already know it's possible to track wallets and follow transactions; what I meant was that if a user merely creates a cold wallet on their own outside of an exchange, then by definition there's no connection between 1) That wallet and 2) The individual's identity. 

My point was that I'm not aware of any technical capability that can link those two things unless the user links them by creating a wallet through an exchange. 

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37 minutes ago, Hodor said:

I guess I wasn't clear - I already know it's possible to track wallets and follow transactions; what I meant was that if a user merely creates a cold wallet on their own outside of an exchange, then by definition there's no connection between 1) That wallet and 2) The individual's identity. 

My point was that I'm not aware of any technical capability that can link those two things unless the user links them by creating a wallet through an exchange. 

That was my point as well...

Edited by mvenneau
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12 minutes ago, mvenneau said:

That was my point as well....lol which ultimately would prevent any kind of procedures and prosecution?

No not at all...  For the reasons I outlined above.  @Hodor is right in that the cold wallet owner is anonymous...  but only at first.  If the actions of the wallet holder bring them on to the regulators radar,  then that anonymity is likely to soon break down.

There are many ways that you can be tracked online.... And even more in the real physical world.  So a wallet holder who is doing something wrong ( or an innocent one who has a pattern of behaviour that looks wrong to the regulator) could have all sorts of techniques employed to discover their identity.  Bear in mind also that all of the transactions link each participant into a growing web...  and that any single failure in obfuscation by any one of the participants can be the thread that is pulled to unravel the identities.

Apart from the moral imperatives....   don't do undesirable behaviour in cyrpto thinking you can't be traced....  you will probably find that you were wrong.

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Just now, Tinyaccount said:

No not at all...  For the reasons I outlined above.  @Hodor is right in that the cold wallet owner is anonymous...  but only at first.  If the actions of the wallet holder bring them on to the regulators radar,  then that anonymity is likely to soon break down.

There are many ways that you can be tracked online.... And even more in the real physical world.  So a wallet holder who is doing something wrong ( or an innocent one who has a pattern of behaviour that looks wrong to the regulator) could have all sorts of techniques employed to discover their identity.  Bear in mind also that all of the transactions link each participant into a growing web...  and that any single failure in obfuscation by any one of the participants can be the thread that is pulled to unravel the identities.

Apart from the moral imperatives....   don't do undesirable behaviour in cyrpto thinking you can't be traced....  you will probably find that you were wrong.

We are discussing AML, all my hypotheticals will of course be immoral. Im well aware of ramifications of trying to beat the system. None of my friends are shady criminals and they all have jobs lol. Just looking for objective insight, thanks!

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5 minutes ago, mvenneau said:

We are discussing AML, all my hypotheticals will of course be immoral. Im well aware of ramifications of trying to beat the system. None of my friends are shady criminals and they all have jobs lol. Just looking for objective insight, thanks!

Absolutely....  I had no intent to imply you are doing anything wrong.

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I am aware that in Australia, each gateway or remittance company my report all international transactions, regardless of size.   This supposedly covers AUD -> XRP, as XRP is not considered a "domestic currency".   So the entry and exit points with crypto to AUD are well and truly covered and can assist with the tracking for AML

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