Important Update: Transitioning from coinjoin in Trezor Suite | by SatoshiLabs | May, 2024

2 Mins read

Last week, we announced the upcoming discontinuation of the coinjoin in Trezor Suite, effective 1st June 2024. As we approach this transition, we want to provide you with further details and reassurances regarding your funds and the privacy measures we continue to uphold.

Please note, all funds in users’ coinjoin accounts will remain accessible even after this transition.

This blog post aims to provide

The decision to discontinue coinjoin stems from the announcement by zkSNACKs, the coinjoin coordinator we use in Trezor, to end their coinjoin coordination service. This coordination is essential for the feature’s operation, and without it, we cannot sustain coinjoin in Trezor suite. We want to reassure you that this decision was made with careful consideration and is aligned with our core values of transparency across all operations.

  • Access to your funds
    Your funds in coinjoin accounts will remain accessible indefinitely. There’s no need to transfer your bitcoins to a standard account, as these will continue to be secure in your existing coinjoin accounts.
  • Privacy and Security
    Although new coinjoin transactions will not be possible, the privacy of your existing conjoined funds is unaffected. Your coinjoin account remains the most private way to manage your bitcoin in Trezor Suite.

While coinjoin will no longer be supported, we are committed to exploring and integrating other robust privacy features. Our users can still use Tor, practice coin control, and adhere to best practices such as avoiding address reuse and separating KYC and non-KYC Bitcoin. Additionally, we recommend our service Vexl for the most private P2P buying and selling of Bitcoin. We continue to focus on enhancing other privacy and security features within Trezor Suite.

  • Why the sudden discontinuation of coinjoin?

On May 2nd 2024, zkSNACKs, the coinjoin coordinator we use in Trezor Suite, announced that is discontinuing its coinjoin coordination service by 1st June 2024. This has triggered our announcement, and the discontinuation of the coinjoin feature for Trezor.

  • Will the discontinuation affect all users globally?

Yes, the coinjoin feature for Trezor Suite will be discontinued as of June 1st for all users globally.

  • Can I still use my coinjoin account after the discontinuation date?

Absolutely. Your coinjoin account will still be active and can be used to manage your bitcoin securely. The account will continue to offer high levels of privacy with integrated features like connection over Tor required by default. However, you will no longer be able to initiate any further coinjoin transactions.

  • Shall I move all my bitcoin from coinjoin account back to my standard account?

It is not recommended; in fact, by doing so, you risk compromising the privacy of your coinjoined coins.

We understand that changes like these can be concerning, but stay assured that we are navigating this transition carefully. All funds in your coinjoin accounts will remain accessible even after this transition. For any further questions or concerns, please don’t hesitate to reach out to our support team.

Source link

Related posts

Discover How RCO Finance (RCOF) Is Revolutionizing DeFi With Its Cutting-Edge AI Trading Tool

2 Mins read
The cryptocurrency trading landscape has long been complex, with enthusiasts facing various challenges. From converting crypto to fiat to limited accessibility, crypto…

XRP Whales Go On Massive Buying Spree, Why This New Project Could Be Next

2 Mins read
XRP whales, who engaged in a massive buying spree last week, could take advantage of a new era of financial opportunities with…

These Are This Week's Best-Performing Altcoins as Bitcoin (BTC) Calms at $67K (Weekend Watch)

2 Mins read
Bitcoin had a quite positive trading week in which it gained over six grand and skyrocketed to its highest price tag in…



Leave a Reply

Your email address will not be published. Required fields are marked *