Today I’m looking at an on-chain flow that looks like a “coincidence transfer,” but don’t rush to assume it’s the same group of people. I’ve now gotten used to dissecting the paths: first check if it’s from the same source of funds, whether there’s splitting/merging along the way, whether the deposits and withdrawals are just happening within the same time window, then look for any authorization, currency exchange, cross-chain steps—these are the “necessary doors.” After breaking it down, you’ll find that many so-called connections are actually just everyone using the same few channels.

Recently, isn’t there someone complaining that data tools and tagging systems are lagging and easily misleading? I agree, tags can only serve as hints, not as proof. Honestly, it’s also a mental exercise: practice not to be scared by a “look-alike” chart, and definitely don’t add to your position just to prove your intuition. Take your time to clearly explain the path; it’s actually more reassuring.