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Is there a central directory of scam wallet addresses, if not is anyone publicly tracking them at all? [serious]

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by COINS NEWS 74 Views

Disclaimer - I probably do not have as developed an understanding of crypto and the blockchain as you. I might have what appear like obvious blind spots to you. This is at the thought exercise stage - please provide a reason so others and myself can learn.

I work in traditional finance, we have a nationwide network to block reported addresses being run through a centralised website.

When I’ve looked for something similar, all I’ve been able to find are databases of scam sites or compromised sites. If we don’t have this, surely we should as an important next step to legitimising crypto?

It seems counter-intuitive for such a transparent address network to not have this yet. Even if not directly blocked by wallet providers, being able to paste in the proposed destination address could, one, avoid repeat offender addresses and two, spur the sender to think about the address a little longer which could make all the difference in zero value attacks.

It could even group addresses based on how many steps removed they are from one another. For example the recent Bald situation - speculation was it was SBF, only to be proven later to be MilkyWay on Twitter. A system like this could save a lot of legwork for investigators as they could look at confirmed and associated addresses, up to 5 steps removed say, with colour coding based on shared connections.

It could both prompt people to think before transactions, and provide almost a heat map of addresses as a starting off point for investors.

Does this exist in some shape or form already? If not, why not?

What are your thoughts?

Edit: another question - could there be a benefit to being the first when it comes to this. Right now non-KYC exchanges are widespread, one day they won’t be - being the first and growing with mainstream adoption could be interesting? Or do you never see a day coming when it’ll be as difficult to open a wallet as a bank account?

submitted by /u/ThrowawayHoper
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