RATE Group | Venmo Exposes User Transaction History, Shows Need for Usable Private Cryptocurrency
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Venmo Exposes User Transaction History, Shows Need for Usable Private Cryptocurrency

31 Jul Venmo Exposes User Transaction History, Shows Need for Usable Private Cryptocurrency

Posted at 19:08h in Cryptocurrency News by

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Venmo was found to leak user transaction history by default, highlighting the need for private and user-controlled payment solutions.

Due in part to the social nature of the app’s design, payments platform Venmo was found to reveal entire transaction histories of users, including to those who were not Venmo users themselves. This setting was found to be enabled by default, meaning that a user would have to manually adjust privacy settings, both ongoing and for past transactions, in order to hide their history from being revealed. This may have resulted in sensitive financial data on millions of users becoming de facto public record.

Cryptocurrencies are rarely both private and usable

Venmo’s privacy issues may have many users looking to other alternatives such as cryptocurrencies. However, many do not solve this inherent privacy issue, despite a pseudonymous nature where users are not required to connect wallets with their identity. Online Bitcoin payments have been

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