Cybercriminals Develop Blockchain Analytic Tool “Antinalysis”

As governments and organizations around the world step up activities to protect the crypto space, cyber criminals who tend to use the industry to launder illegal funds have devised a new means of staying ahead of the government.

Per a new blog post from Elliptic, a blockchain analytics firm, dark web users have created a new tool they can be use to identify which Bitcoin addresses could be linked to criminal activity. The new tool is called ‘Antinalysis’ and was developed by Incognito Market, a popular darknet marketplace for the sale of drugs.

As highlighted by Elliptic co-founder Tom Robinson, “Antinalysis seeks to help crypto launderers to avoid this, by giving them a preview of what a blockchain analytics tool will make of their bitcoin wallet and the funds it contains.”

Elliptic made its name in the crypto space through its Blockchain analytics tool that allows governments and organizations to trace illegal funds. This way, it becomes difficult for the criminals to launder their illegal funds.

The said Blockchain analytic tool runs on Tor, which is the anonymous version of the web and charges $3 per bitcoin address and “offers highly accurate results.”

Cybercriminals, in previous times, have always depended on the crypto space as an avenue where they could store their ill-gotten funds due to the anonymity provided by the space. However, with the spate of crypto seizures by different governments around the world, this has made the industry less attractive for these players.

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