Chain analysis, the New York-based blockchain intelligence company, It has launched a new initiative to clarify the scope of its latest cryptocurrency crime analysis.
Released on May 4, three installments of Cryptocurrency Intelligence Reports The company offersn Information about the mechanisms and routes used for illegal transactions in the crypto space.
At the start of his new series According to Chainalysis, none of the companies analyzed in the new summaries are actively examined, but information is released to support the ongoing work of law enforcement, regulators and cyber security companies. and compliance experts.
Global vectors to watch out for
The first of the chain analysis reports examined the role of Black Host, an example of a hosting provider bulletproof that provides web hosting services that preserves anonymity.
Other examples of bulletproof hosting services include, but are not limited to, virtual SIM card providers, VPN providers, and anonymous email providers. They all fit into a range of anonymity services that help protect users’ privacy online.
In the case of Black Host, the provider also supports the purchase of cryptocurrencies for its servicesAdd another level of pseudonym protection.
Although many users’ privacy concerns are legitimate, Chainalysis notes that in the case of Black Host, his analysis identified that Your services have been usedin May 2018, through a Bitcoin (BTC) address of the Lazarus group of cybercriminals associated with the North Korean government.
The second report of the chain analysis highlights the Iranian crypto exchange ecosystem, in particular a popular local trading platform that Farhad Exchange.
While many established crypto exchange siteslike local bitcoins, operations in Iran have ceased for fear of fines for violating US sanctions and national exchanges have continued. This is despite the central bank’s promise to take action against private cryptocurrency projects in recent years.
Farhadthat supports WebMoney’s Iranian rials, US dollar and Russian ruble e-currencies, and major cryptocurrencies, has an active online education and social media program for home crypto users.
Chainalysis has identified more than 20,000 BTC addresses associated with the exchangewho participate in more than 46,000 transactions. These have reportedly become less active in recent months and generally have a balance of less than 1 bitcoin. However, transactions will continue from April 29. The addresses linked to the platform have received 7,993.09 BTC and sent 7,978.77 BTC since 2016.
In your last traffic, Farhad has interacted with major crypto exchanges as well as higher-risk companies, gambling sites and peer-to-peer trading platforms..
Between 2014 and 2017 The exchange received 74 BTC from an address associated with an Iranian citizen who was sanctioned for his role in helping SamSam ransomware attackers convert BTC to Riyals.
The latest chain analysis report focuses on a Poland-based crypto scam, FutureNetThat has built a shell company infrastructure to create a legitimate veneer for fraud.
Current chain analysis research
Last month Cointelegraph reported on Chainalyse’s analysis of the use of cryptocurrencies to purchase material about child sexual abuse on the Darknetwho found that such transactions increased 32% in 2019 compared to the previous year.
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