Chainalysis Partners With Bluestone Analytics to Investigate Crypto on The Dark Web
- Chainalysis will connect the crypto transactions identified by Bluestone with real-world entities.
- The companies said the partnership will improve the data they provide to law enforcement agencies.
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According to Chainalysis’ press release, the partnership will enable users to utilize the functionalities from both Bluestone Analytics’ DarkBlue Intelligence Suite and Chainalysis’ Reactor.
Bluestone Analytics’ DarkBlue Intelligence suite will provide cloud-based access to more than one billion AI-powered deep and dark web records from Tor, OpenBazaar, I2P, and ZeroNet. The data and software used in the Chainalysis Reactor will then expose the relationships between cryptocurrency transactions and real-world entities.
The companies believe the integration will enable them to amplify their offerings by streamlining investigations done to support law enforcement and intelligence missions. Chris Manouse, a senior executive at Chainalysis, said that cryptocurrency has become a “vital piece” to the way criminals operate on the dark web. Liam Bowers, the founder and CEO of Bluestone Analytics, said the partnership with Chainalysis will expand the capabilities and insights both companies can provide to law enforcement clients.
- While there are still two weeks to go, Chainalysis data shows October has already become the biggest month for crypto crime, with $718 million being stolen across 11 hacks.
- 2022 was also close to becoming the most profitable year for crypto criminals, with 125 hacks being responsible for the loss of $3 billion.
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- The Series F round has more than doubled Chainalysis’ valuation since last year, which is not surprising considering it has increased its customer base by 75%.
- The company has claimed that its various tools are now responsible for monitoring around $1 trillion worth of transactions each month.
- Roman Semenov, co-founder of Tornado Cash, explained that the blockade only applies to the platform’s frontend, and not the underlying smart contract.
- The news came only a day after the Treasury Department alleged that North Korean hacker group Lazarus was connected to the $625 million Ronin bridge hack.