Wasabi Wallet, a privacy-focused and non-custodial Bitcoin wallet, has given an official response to several reports alleging that it is obscuring the identity of the scammers behind the recent Twitter hack which was used to steal Bitcoin in giveaway scams.
In an official blog post on Monday, Wasabi acknowledged that its wallet is designed to ensure that the identity of users remains anonymous. However, some people take advantage of this anonymity to engage in various fraudulent activities, just like the Twitter saga.
The post further lamented that a majority of the time, it is mainly instances where the Wasabi Wallet is utilized for carrying out illicit transactions that catch the attention of the public.
It said, “Isn’t it odd that there are very few articles published about an offshore account hiding someone’s embezzled funds or a Swiss bank protecting an African drug lord’s blood money? That’s because these two examples deal with regular currency and not Bitcoin.”
The wallet provider also noted that the transparent nature of the Bitcoin system makes it easy for anyone to have access to every transaction stored in the ledger. However, to prevent this information from falling into the wrong hands, it becomes a necessity for this transparency to be protected.
For this reason, Wasabi is out to provide its clients with the highest possible form of privacy to enable them to trade anonymously and it is constantly improving the quality of its services to match up with the fast-advancing digitized cryptocurrency industry.
It stated, “We are constantly striving to improve Bitcoin privacy. This is one of the reasons zkSNACKs (the company behind Wasabi Wallet) publicly made a 1BTC contribution to the Human Rights Foundation’s Bitcoin Fund.”
The company continued, “We firmly believe that cryptocurrency is the currency of the future and that private companies, autocratic governments, and corrupt institutions have no right to surveil you. Privacy is a fundamental human right and Wasabi Wallet is protecting people’s privacy.”