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But that would mean that the CEX could see where the moneto went, no?

thats correct 👍

they know the first hop but not where it goes after that.

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Do you know of work (research) I could look at that might compare monero and lightning+cashu privacy?

not really direct comparisons no.

it doesn't make a lot of sense for researchers to compare them since its apples to oranges.

but theres lot of individual comparisons, particularly of monero and LN.

I thought i had a bookmark with a list of LN papers but looks like it was lost.

I haven't read this but Juraj is usually right on

Thank you. I'll read it.

A bit on tracing Monero transactions

I've written a bit about Cashu as well:

thanks!