The risk of posting your exchange's address publicly

[ultrloa]

One of the replies on my post led me to think about how risky posting your centralised exchange's address publicly. Since exchanges strictly handle funds from mixers and gambling sites, then you may face the same issues as well.

Let's say you have an enemy on the forum and you are receiving signature campaign rewards into an exchange. It means you posted your receiving address from a centralised exchange on the signature campaign thread. So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.

So it's pretty risky posting your exchange's address publicly. Always use a noncustodial wallet address when you are posting publicly.

I guess you are referring on last incident happened to you which binance has block your account due to mixer transaction reason. But this is rare case scenario where people will think about doing that. Also I guess there's few people have dirty bitcoin but that doesn't mean we have less chance to experience this since provably this incident might really happen and so unfortunate people will encounter the same issue.

So the least thing people could do is to be friendly and always avoid picking up fights, so that we can comfortably browse and transact on exchange without getting worried if we receive those dirty bitcoins.

[Outhue]

One of the replies on my post led me to think about how risky posting your centralized exchange's address publicly. Since exchanges strictly handle funds from mixers and gambling sites, then you may face the same issues as well.

Let's say you have an enemy on the forum and you are receiving signature campaign rewards into an exchange. It means you posted your receiving address from a centralized exchange on the signature campaign thread. So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.

So it's pretty risky posting your exchange's address publicly. Always use a noncustodial wallet address when you are posting publicly. 

Wow, I've never thought about this before, does this mean that all centralized exchanges don't accept deposits from mixers? I think it is not all exchanges, correct me if I am wrong.

I don't like accepting payment from anyone into my exchange address for other reasons like imagine the exchange start having some issues and you can't withdraw after leaving your money on the platform for a while.

Some people store their BTC payment for a while before moving, imagine strong on a exchange and something happens to the exchange, also self control is important, I don't move my Bitcoin to any exchange unless I am ready to trade.

This is a good advice OP, it is safer to receive in your own Bitcoin wallet before moving to any exchange.

[Jaycoinz]

One of the replies on my post led me to think about how risky posting your centralised exchange's address publicly. Since exchanges strictly handle funds from mixers and gambling sites, then you may face the same issues as well.

Let's say you have an enemy on the forum and you are receiving signature campaign rewards into an exchange. It means you posted your receiving address from a centralised exchange on the signature campaign thread. So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.

So it's pretty risky posting your exchange's address publicly. Always use a noncustodial wallet address when you are posting publicly. 

I remember something similar of such here in the forum although not on same context but I believe it was one of the mixer signature campaign promoted here. I think most person can remember, the deal was the funds received by campaign participants as of the time of running the campaign were actually paid directly from their mixer company address of which they also used in their service transactions and then they had fraud issues with government which led to the closing of their services and some persons as of that time who received payment directly to their exchange was also charged with little question when the government contacted the exchange and I believe some account were frozen which needed clearance on how the transaction came about.

[Coyster]

I think that's really petty, and i don't see any reason why someone would want to do a thing such as that, because it might not even yield the results that they desire.

Thing is, people are that petty and I would bet my left nut that some here would risk few hundreds of dollars worth of bitcoin in order to try frame someone they hate so much.

Well, it could be possible, nonetheless crazy from whoever could think of doing something like this, when they aren't even sure if what they hope for will happen.

Wow, I've never thought about this before, does this mean that all centralized exchanges don't accept deposits from mixers? I think it is not all exchanges, correct me if I am wrong.

It is not like they outrightly tell you that they reject deposits from mixers, but they all have it in their terms of service that they can seize funds for whatever reason, particularly when they suspect the source it came from. Now mixers block the origin of coins, thus there is a high chance of a centralized exchange seizing a deposit from a mixer, and order you to tell them where the coins came from, or lose your deposit.

[Porfirii]

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-snip-

As for sending little amount or dust through mixers to exchanges just to maybe create a problem to that person is not going to work and my reason is that exchanges wouldn’t treat a small amount of funds sent in as tainted funds. One thing is the bitcoin coming from any mixer or wallet isn’t Having any tag to make it look suspicious, only where it comes from is what gives intuition of whether it is tainted coin or not, the time which exchange is expected to know this when a large amount of funds is sent and I don’t expect any hacker or attacker to go to that length

That's exactly what I was thinking: very little amounts wouldn't work. But what if money is not a problem for your enemy, and wants to put a target in your name by sending a not-so-small amount?

I think that the OP is giving ideas here that should be left unspoken

[Stablexcoin]

Let's say you have an enemy on the forum and you are receiving signature campaign rewards into an exchange. It means you posted your receiving address from a centralised exchange on the signature campaign thread. So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.

So it's pretty risky posting your exchange's address publicly. Always use a noncustodial wallet address when you are posting publicly. 

Why would someone become an enemy to another in the forum? I am wondering why they would keep enemies between each other when the forum allows you to hide your identity under your username. Anyone who will think of such an evil act is a wicked soul. But your advice is true, we do not know if anyone is jealous of you to the extent of sending their BTC to your address, and that's why it's good we ensure the security of our exchange address.

One annoying thing about the blockchain is that it is transparent. Anyone who sends funds into it cannot be hidden. People can see your balance and transactions and track which user sent it.

[Coyster]

Why would someone become an enemy to another in the forum? I am wondering why they would keep enemies between each other when the forum allows you to hide your identity under your username.

The forum has had its own fair share of long-standing rifts and feuds, and many of them are still unresolved until today, the best thing to do when you don't like a user is to put them in your ignore list, and not trying to screw them over. Of course these rifts are between anonymous users, but despite the fact they don't know each other in real life, it could spill over into something very ugly and unhealthy.

One annoying thing about the blockchain is that it is transparent. Anyone who sends funds into it cannot be hidden. People can see your balance and transactions and track which user sent it.

What you see on the blockchain is UTXO's and addresses, you cannot tell who is behind them, except they use them in a centralized exchange, and even if they do, individuals don't have the power to ask exchanges to give them information about any of their customer's, only the government can.

[Alpha Marine]

But then again, I don't think the exchange can take immediate action on such an act. You will be asked to explain the source of that transaction, and you can also possibly deny it unless the exchange doesn't give you the benefit of doubt and a chance to explain yourself, because we all know that the addresses are public, so anyone can send anything to the address.

Actually, once stolen or fraudulent coins make their way to your exchange address, they don't ask for any explanation from you. It's not just about mixers. Before signing up, you saw in the terms of service that your account would be frozen if there was anything like that.
It's like being in a trial but already serving the sentence. If you want to plead your case, you'll do so with your account frozen. All the coins you have there will remain there and you'll communicate with them through email and they may decide not to reply to you after a while. Sometimes, you get reported to your local authority and may be charged to court if the charges are serious.

The only person who should make transfers to your exchange address is you. Receive whatever you want to receive in your wallet and transfer to your exchange account if you must.

[notocactus]

Before signing up, you saw in the terms of service that your account would be frozen if there was anything like that.

I bet that you know most of people don't care to read Terms of Service or FAQs. They even don't mind to skim or scan ToS or FAQ and it's where problems arise from.

Centralized exchanges only started to become more serious with KYC, AML recent months after a massive lawsuit and charges on Binance, then Kucoin, and some others. KYC/ AML was applied for years but now it has become hottest and strictest and we've never seen such enforcement on centralized exchanges before.

People who are in this industry for a long time, actually know about this risk, but newbies who join this space recently more likely don't know about this risk or underestimate severity of this risk.

[CryptSafe]

One of the replies on my post led me to think about how risky posting your centralised exchange's address publicly. Since exchanges strictly handle funds from mixers and gambling sites, then you may face the same issues as well.

Let's say you have an enemy on the forum and you are receiving signature campaign rewards into an exchange. It means you posted your receiving address from a centralised exchange on the signature campaign thread. So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.

So it's pretty risky posting your exchange's address publicly. Always use a noncustodial wallet address when you are posting publicly. 

Thank you for this information. I believe this would educate those who use their exchange wallet to receive payment directly from their employer. Most people here I presume does this forgetting the risk involved with it. Just as Jaycoinz has said, Back then 2023 when something of this nature occurred and it happens that many accounts were sanctioned. That alone should teach people lessons and serve as an eye opener to others to not make such mistake. Although some people do that just to avoid paying transaction fees not looking at the potential risk involved and what it might cost them in the future. It is not ideal to do such when you do not have idea where the funds are coming from and all you just know is that you are receiving payment for your services rendered without questioning your employer the origin or source of funds.

[Cookdata]

Let's say you have an enemy on the forum and you are receiving signature campaign rewards into an exchange. It means you posted your receiving address from a centralised exchange on the signature campaign thread. So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.

I want my enemy to do that and test me with $20k mixed funds so centralized exchange will froze it.
On a serious note, it's not great to post an address and label it to people publicly, you risk everything around you since centralized exchanges kyc approved customers and going against them risk every other asset you have in the ecchange especially if you are a part time scalper, not just that you risk your privacy too because you don't know who is watching this forum, things might look faceless but deep down, there is profiling underground.

There are some countries where government has prohibited there citizens from doing crypto, we have some there local board active. Posting your wallet online as Bitcoiner put you at risk because you can be easily track and even arrested for breaking the law of the country. Exercise caution even when you are anonymous on the internet.

[dkbit98]

So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.

You are your own worse enemy in this scenario, not some imagined forum hater.
Everyone knows that centralized exchanges can ALWAYS freeze and close your account for any reason, like they did it recently to many customers from Palestine.
They even shared location and personal information and some of them got killed in attacks, this is how real enemy looks like without revealing any addresses in public.
Revealing anything about your kyc verified accounts and posting it in public forum is bad practice for sure, you are making it easy for analytics companies.

[Mia Chloe]

One of the replies on my post led me to think about how risky posting your centralised exchange's address publicly. Since exchanges strictly handle funds from mixers and gambling sites, then you may face the same issues as well.
Let's say you have an enemy on the forum and you are receiving signature campaign rewards into an exchange. It means you posted your receiving address from a centralised exchange on the signature campaign thread. So your enemy could send small funds to your address from a mixer. As a result, your account will be frozen and closed.
So it's pretty risky posting your exchange's address publicly. Always use a noncustodial wallet address when you are posting publicly.

You have a very nice point. I have come across a couple of posts too on the gambling discussion board where some users were saying certain centralised exchanges treat funds from gambling sites and accounts differently and if course it isn't much of a new thing about the part of mixers. For some reasons I think some mixers actually have their addresses flagged on some centralised exchanges.

In some cases, exchanges especially centralised ones check  your sending addresses for both some gambling sites and some mixers thus it puts such user in a tight position if it's flagged. Whether centralised exchange or not certain addresses shouldn't be publicly posted including addresses of your Hodling wallets since they can be used to carry out things like a dust attack too.

[Saint-loup]

I don't know if this attack has a name and how we could call if not, but it would be very nasty, since the attacker wouldn't earn anything, so it would only create damages without any profit for anyone. Besides that, it would be difficult to realize because the attacker needs to know to which exchange belongs the address and how this exchange is managing funds coming from black listed platforms and mixers, and what measures it usually take towards customers receiving such transactions.

[Jegileman]

So it's pretty risky posting your exchange's address publicly. Always use a noncustodial wallet address when you are posting publicly. 

That’s right but many already made such mistakes in this forum precisely when applying for campaigns and before now, nothing of such has occurred to anyone. It’s still pretty safe though if you’re not engaging in anything that’ll warrant your account closure or someone trying to get at you by infiltrating your wallet to get suspended or taken down for whatsoever reason.

The first question is even if you post your address on the forum how is the person or attacker going to discover it is the address of an exchange?

I don’t think this will actually matter when the enemy is actually coming for you. They will use anything they have within their means to get your account tagged by the exchange even if they don’t have to be sure it’s an exchange address. Sending some reasonable amounts there won’t be something hard for them, they can just do that to achieve their aim. And to have received such reasonable amount of money in your account without any action where it comes from, once you’re tempted to spend them, maybe that’s when your exchange will want to freeze and suspend your account.

[Peanutswar]

I guess its a good enlightenment also to those people who keep using an exchange wallet address and instead of their noncustodial wallet well sometimes laziness is part of the human so they can easily convert their money instantly without making another step of the transaction, well I do this before during my gambling games but in a few because possible accounts might get flag if they are not supporting a money came from a gambling casino. Still they have the rights to tag the accounts that they will think its quite suspicious. Is the sanction might lifted or you just need a couple of months before withdrawn the asset?.

[promise444c5]

One annoying thing about the blockchain is that it is transparent. Anyone who sends funds into it cannot be hidden. People can see your balance and transactions and track which user sent it.

Firstly, funds are not sent into blockchain but rather records of fund transactions are kept there for transparency and proof of transactions with their timestamps.

The logic is to make it decentralized and transparent, been decentralized allowsand gives chance for  everyone to participate  in the process instead of a single body getting to determine how things should works.

Regarding identity, it's hard  to directly link a real-world identity to a blockchain user without additional information. Even if you have access to a wallet address, tracing it back to a specific individual can be difficult unless you have a trace to exchange wallet and to get it you will still be needing a way to bypass it . However, there are various techniques to make tracking even harder, such as using different addresses to receive UTXOs (Unspent Transaction Outputs), running your own node.....and many more.

[Alone055]

I don't know if this attack has a name and how we could call if not, but it would be very nasty, since the attacker wouldn't earn anything, so it would only create damages without any profit for anyone.

Satisfaction is what the attacker would earn from this. You seem to know less about the evil that lives in our society these days. Some people would go to any extent only to make someone else suffer, they would even spend money from their pocket just like what we are discussing here.

If someone is evil, they want someone to have problems, they will do something to create those problems if they see they aren't facing any problems on their own, so it's not always about earning something good from what people do, many people do things to satisfy their ego or feed the animal that lives inside them.

I've never thought one could use an exchange address to receive their signature earnings or any reward that they are getting, that too posting it publicly. Someone can indeed find a centralized exchange addresses that you use even if you are posting an address from a non-custodial wallet, but the thing is that when they are looking from an explorer, they wouldn't have a clear idea whether the addresses you are sending coins to are yours.

[knowngunman]

Thanks for highlighting this. This is something that can easily be overlooked, but the implications could be serious. Even if you’re not involved, someone with bad intentions could cause trouble.

Using a noncustodial wallet is the smarter move. This way, we can avoid the risk of an exchange freezing or even closing your account due to suspicious activity beyond our control. This is something everyone should be aware of, especially when dealing with centralized exchanges and public posts!

I think we have seen cases like this even in the forum around sometime last year after the issues of mixer ban. Some people nearly got into trouble just by receiving their weekly signature payments from the mixer address to their exchange address. I remembered the exchange sending them mail regarding receiving coins from a suspicious address.

We can not avoid this by default and I doubt if it will really create a big problem since the exchange are aware that we have no control over the coins that enter into our address because they're public. You can only be responsible if you attempt to interact with such coins. As far as you stay away in such case, you'll have a reason to clear yourself. People are actually crazy and can go any length to hunt you down.

[CryptSafe]

I guess its a good enlightenment also to those people who keep using an exchange wallet address and instead of their noncustodial wallet well sometimes laziness is part of the human so they can easily convert their money instantly without making another step of the transaction, well I do this before during my gambling games but in a few because possible accounts might get flag if they are not supporting a money came from a gambling casino. Still they have the rights to tag the accounts that they will think its quite suspicious. Is the sanction might lifted or you just need a couple of months before withdrawn the asset?.

Sometimes the thought of skipping transaction fees is what makes some people use their exchange wallet forgetting that  the exchange are centralized and could effect any changes as it pleases them based on agreement signed with them and they can not be held accountable for anything that happens if they act in accordance to the rules governing them and the jurisdiction they find their business thriving on.

Most people just forget the fact that the casino or exchange can change their wallet address and if that happens without them effecting any changes prior to payment, they could or would loose their money and they sending their direct exchange wallet address to their employment puts their pay at risk because they have no idea where the money the employer pays them with comes from and they face the risk of their other assets being seized too if anything of such nature happens or otherwise.