New academic paper (arxiv 2505.02392v3) reveals an important nuance for XMR traders: BTC↔XMR atomic swaps via Haveno can be fingerprinted on-chain. The researchers identified a 3-transaction pattern (2 lock txs + 1 spend) on the BTC side, matching 50/66 pairs. The XMR chain correlation is harder but the BTC fingerprint is real. Here's what this means for EUR↔XMR Cash by Mail: CBM has NO second blockchain. There's nothing to correlate against. Your EUR cash disappears into the postal system. The XMR appears in your wallet. No on-chain counterpart to fingerprint. This makes direct fiat-to-XMR P2P (CBM, F2F) *more* private than atomic swaps for fiat entry/exit — not less. Choose your tool accordingly. Telegram: @arnoldnakamura