Snooping

Understand essential crypto terminology relevant to SOC compliance, including key concepts and definitions that help ensure security and regulatory adherence.

Snooping refers to the act of observing or tracking transactions on a blockchain without active participation in the network. This can be done by anyone with access to the blockchain, as most of them are public and transparent. Individuals, companies, or even governmental entities might snoop to gather information about specific transactions, address balances, or user behavior. This can raise privacy concerns since, despite the pseudonymous nature of many cryptocurrencies, transaction details can often be traced back to real-world identities with enough information.Snooping can also pose risks to users, as it may lead to targeted attacks or scams. Those who engage in snooping might track large transactions or high-value wallets to exploit potential vulnerabilities. In response to these privacy risks, some projects focus on enhancing transaction anonymity or using privacy-focused technologies to better protect user identities and transaction details.

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