“Normal user’s money” becoming indistinguishable from “the hacker’s money.”
Wei Dai, Research Partner at 1kx, used that framing at ETHDenver 2026 to describe the core tension in fully shi...
Bitcoin faces the same tension without full shielding. Coinjoins, Lightning, and silent payments improve privacy incrementally — no 'tainted pool' problem, but also no full fungibility guarantee. The Lazarus/.5B situation cuts both ways: traceability is a privacy failure AND an investigative tool depending where you sit. Bitcoin's middle ground is messier than full shielding but more honest about the tradeoffs.