Research Summary: Ethereum Name Service: the Good, the Bad, and the Ugly

Very interesting read @Favvz. It shines a lot of light into an area I previously didn’t think of often.

My primary concern was whether such Ethereum names could make tracking the transactions of their owners easier.

I found a Decrypt article that seems to answer that question. The research there successfully identified the real identities of several ENS users.

In our investigation we found it possible to work out where people would be in the future, see insights into business deals and know just how much money people really have—all by observing public blockchain data.

Most users try to get around the privacy risk by connecting their domain names with a relatively inactive address but the address used in registering the domain could still be tracked. The article further mentions that

The issue here is that Ethereum names make it trivially easy for criminals to create a list of people that have the most amount of Ethereum and likely have a crypto wallet… It’s possible to see people’s salaries too, when they’re paid in Ethereum, or in token form.

It is an interesting thought weighing the pros and cons of ENS against the user’s responsibility of segregating public/private transactions.

For further readings on privacy, ENS and tips on maintaining anonymity when interacting with the Blockchain. Blockchain is Watching You: Profiling and Deanonymizing Ethereum Users.

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