Bitfury, a mining company, introduced the Crystal toolkit, designed to identify and investigate criminal activities in Bitcoin. Representatives of the company told about this in an interview with CoinDesk.
The platform has been developed for two years. It is designed to break the idea of bitcoin as an instrument for carrying out transactions in black markets.
“This industry needs very simple and convenient tools that would allow tracking bitcoin transactions and checking whether the address from which you receive money is green or black,” explained Valery Vavilov, CEO of Bitfury Group.
The Crystal service will allow law enforcement officers and private experts to trace the ways of moving suspicious transactions to the final recipient or point of sale of the cryptocurrency. By establishing the relationship between alleged intruders, Crystal will be able to determine the likelihood of individual addresses being involved in illegal activities.
Other tools will help autonomously monitor bitcoin addresses, compile and distribute reports according to specified criteria and even establish the origin and purpose of transactions.
“We analyze the Internet, we analyze the forums, we analyze different types of sources, we collect this information together and come to a conclusion whether a particular transaction is questionable or not,” added Vavilov.
The corporate version of the Crystal Pro product will be integrated into the company’s own networks and will not only allow them to monitor the activity in the detachment, but also provide additional security for their cryptocurrency transactions.
The free version of Crystal software is available from January 30th. Tariffs for corporate clients will be presented in March.
Recall, according to a study conducted by experts from two Sydney universities and the Stockholm School of Economics in Riga, nearly a quarter of bitcoin users are involved in illegal activities.