The risk of posting your exchange's address publicly

[Bitcoin Smith]

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 can bet still a lot of users are using exchange's address for receiving payment from their signature campaign and all the data is available for anyone to see I mean the spreadsheet so anyone who wants to mess up can send btc from mixer or even from tainted orgin to suffer but it's less likely to happen unless someone holds that much grudge against that user.

In case if we are using non custodial wallets we can be able to freeze the specific UTXOs if we feel those are from unknown sender which will be specifically very small amount so I urge anyone who have been using centralized exchange's address for receiving payments should switch it as soon as possible.

[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. 

I can bet still a lot of users are using exchange's address for receiving payment from their signature campaign and all the data is available for anyone to see I mean the spreadsheet so anyone who wants to mess up can send btc from mixer or even from tainted orgin to suffer but it's less likely to happen unless someone holds that much grudge against that user.

In case if we are using non custodial wallets we can be able to freeze the specific UTXOs if we feel those are from unknown sender which will be specifically very small amount so I urge anyone who have been using centralized exchange's address for receiving payments should switch it as soon as possible.

No doubt, there are still those who are still using their exchange address for direct payment but I am still wondering why someone would out of grudges want to send tainted coin or do a transaction from a mixer direct into another persons exchange address knowing fully well the repercussion involved and the tendencies of the persons account been frozen by the exchange for violating their policy. It is not making any sense but rather an act of wickedness.

If it were possible for campaign managers to tell their employees to not send exchange wallet address that would have been better but here they have no choice because every employee knows what best suits them and they are liable for their own actions. So they know what is right to do and what is wrong as well. If it suits them to still use their exchange wallet after knowing the risk involved it is left for them. Whatever happens as a result of their negligence, it is their own cup of tea.

[Cookdata]

I can bet still a lot of users are using exchange's address for receiving payment from their signature campaign and all the data is available for anyone to see I mean the spreadsheet so anyone who wants to mess up can send btc from mixer or even from tainted orgin to suffer but it's less likely to happen unless someone holds that much grudge against that user.

Only few exchanges most especially Binance, Kucoin and Okex dislike coins from mixers and that's because security agencies are watching them and because they don't want to be fine for allowing such Bitcoin into the exchange, they strictly try as much as possible to avoid mix Bitcoin whether it's clean or not, they don't just want any coins from mixers but some exchanges do accepts as they don't have much attention from regulators like Binance but it's better to receive funds on a wallet with own private keys than use centralized exchanges.

In case if we are using non custodial wallets we can be able to freeze the specific UTXOs if we feel those are from unknown sender which will be specifically very small amount so I urge anyone who have been using centralized exchange's address for receiving payments should switch it as soon as possible.

The forum doesn't have mixers here advertising their projects for traffic, so I don't think that's necessary right now. Most of the funds that signature participats receive are from Casino games and other non gambling campaign, so there is nothing to really worry about changing of the wallet addresses except if you have been mixing with that wallet several times.

[KingsDen]

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.

I share same sentiment with you. Anyone trying to do this, should at first know the user in real life or have a grudge against the user. Then, they should be sure that the user is using an exchange address. Then be sure that they will definitely get into trouble, in order not to do a futile work. Then, even the exchange or the government should be able to see the amount of BTC that was sent to the exchange and dismiss it as insubstantial. Unless you are gonna send thousands worth of BTC to the address.

[Obim34]

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.


Btw OP, you might have given someone here an idea how to try screwuing someone. 

Of a truth, there are people who can and possibly would do so. Any crazy person who would pick this up already monitors the targeted address whether it has enough funds and definitely will be less concerned on risking as much of his own to take down every funds in the victims wallet.

Not really  , OP just care more for us to retrace our steps, first by not having enemies who hates to this extent and secondly use a more suitable wallet for storing our assets instead of any CEX.

[albon]

Only few exchanges most especially Binance, Kucoin and Okex dislike coins from mixers and that's because security agencies are watching them and because they don't want to be fine for allowing such Bitcoin into the exchange, they strictly try as much as possible to avoid mix Bitcoin whether it's clean or not, they don't just want any coins from mixers but some exchanges do accepts as they don't have much attention from regulators like Binance but it's better to receive funds on a wallet with own private keys than use centralized exchanges.

Let's not forget that several platforms, including Binance, delisted privacy coins, like Monero and Zcash.. etc., about a year ago. Everything Binance or any other centralized exchange does is based on regulatory compliance.  Based on the desire of these exchanges to expand and maintain services in the future, they are forced to take action against any coin or users and their funds to avoid penalties and fines. They will not be guilty of that, as they already have a disclaimer for those who violate their rules and conditions for using the exchange. Therefore, yes, I strongly support avoiding using the addresses of these exchanges for transactions, receiving funds from unknown sources, and publishing them publicly. Users of these exchanges, rather than decentralized alternatives, would only be doing the wrong to themselves. Whoever prefers to avoid headaches and not live under constant threat in case something unexpected happens should use their common sense now.

[ThemePen]

No doubt, there are still those who are still using their exchange address for direct payment but I am still wondering why someone would out of grudges want to send tainted coin or do a transaction from a mixer direct into another persons exchange address knowing fully well the repercussion involved and the tendencies of the persons account been frozen by the exchange for violating their policy. It is not making any sense but rather an act of wickedness.

If it were possible for campaign managers to tell their employees to not send exchange wallet address that would have been better but here they have no choice because every employee knows what best suits them and they are liable for their own actions. So they know what is right to do and what is wrong as well. If it suits them to still use their exchange wallet after knowing the risk involved it is left for them. Whatever happens as a result of their negligence, it is their own cup of tea.

It is surprising that some people still use exchange addresses for payments by the way it is risky. Sending bad money or using mixers can get their account frozen. On purpose hurting someone account is wrong and harmful. It is shocking that some people do this. Managers ca not stop employees from making mistakes but teaching them what is safe can help. Employees are responsible for their actions and should know risks of using exchange wallets.
If people ignore warnings and keep using exchange wallets they have to deal with consequences.

[tvplus006]

You're right but anything that's already in public, anyone is free to send funds on it for testing, attacking, etc.

In general, I believe that all BTC addresses should be transferred to the manager after the participant is accepted into the signature campaign via PM. At the same time, access to the table itself should be open only to the participants of the signature company and no one but them would be able to see other wallet addresses.

[ndutndut]

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.

No one knows what's in someone's heart, even though we don't know each other because our identities are hidden, but there are always bad people who want to harm us, maybe many factors such as envy and so on. That's why Op's advice is very important to always keep the exchange address secret, especially if you post it publicly. On the other hand, that's the biggest risk of storing assets on the exchange besides not being able to control it yourself, all of our assets can be frozen by them if someone wants to harm us by sending btc using a mixer to 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.

A transparent blockchain is not always annoying, in fact, with a transparent blockchain there are many benefits. With this blockchain transparency, it can increase the trust of many people. With blockchain transparency, it will also be very useful for audit purposes and with transparency, its truth can also be guaranteed, and there are many more advantages of blockchain transparency.