this post was submitted on 31 Oct 2024
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Monero

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say someone asked you to open your wallet and asked you where your funds came from, can you just say that you mined it? since XMR cant be trace afaik

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[โ€“] [email protected] 0 points 4 days ago (1 children)

if i do that, pretend i move the mined XMR to my now NEW wallet and you ask " Show me the mining wallet that got those mining transactions.", can i Just say i dont have the mining wallet anymore coz my computer got infected so i move all my xmr to new wallet and forget the old one alltogether?> Show me the mining wallet that got those mining transactions.

[โ€“] [email protected] 0 points 4 days ago

Yes you can just say that.

  1. If someone knows for a fact that you have Monero and they know the exact amount, and want to know where it came from:

    • Move them to a new wallet
    • I mined these coins a very long time ago, I do not have the mining equipment anymore
    • Also the wallet I used to mine them was on an old computer that got infected so I moved all to this new wallet
  2. If someone suspects that you have Monero but does NOT know how much:

    • Imagine you own $10k in Monero
    • Move a small amount to a wallet ($200??)
    • If authorities ask you how much you have, show them the wallet with $200.
    • Go back to scenario 1 (I got those 200 from mining a long time ago etc etc)
  3. If no one suspects that you have Monero, and for now you are "in the clear":

    • Follow good opsec
    • Do not tell anyone that you have Monero
    • Do not exchange that Monero for fiat using KYC services. Always use something like Haveno, or use the Monero to buy prepaid cards anonymously to use in shops
    • If someone starts suspecting that you might be using Monero but does not know how much, revert to scenario 2

Of course it is better if you avoid anyone knowing you have Monero altogether.

Remember that you always have the option of moving them to a new wallet, say you got hacked and have no access to it.

Of course all this depends on your country and how authorities are there. If you live in a very authoritarian area where authorities do not care about evidence and they only care that "you look guilty", nothing will save you. If you live in a country where you must go to court and be proven guilty, I think with Monero its pretty easy to do any of those steps and cover your ass.

But as always, try to not be discovered using Monero in the first place