SABR.io Identifies Illegal Activity on Blockchains, Willing to Work With Law Enforcement
Blockchain analytical tools and services are both a blessing and a curse, according to Bitcoin industry experts. The Bitcoin community is divided into two camps: those who embrace the transparent aspect of the blockchain and financial transactions, and those who want to use anonymizing services to cover their tracks. Unmasking Bitcoin transactions could throw a monkey wrench into the plans of that second category of users, and Sabr.io aims to do exactly that. The business model associated with the Sabr.io service is noble and honorable, as the company wants to eliminate any criminal....
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A new blockchain startup has claimed its software could help track down criminals faster and cheaper than ever. Sabr.io, one of 42 companies unveiled at 500 Startups' demo day in San Francisco this Tuesday, aims to shave valuable time off investigations into outfits such as illicit marketplace Silk Road. The platform, which integrates data from public and proprietary sources, claims to provide law enforcement with intel on digital currencies that's "otherwise inaccessible". It's unclear exactly what this entails, with CEO David Berger telling CoinDesk he was unable to disclose further....
The Financial Monitoring Agency, Kazakhstan's financial watchdog, emphasizes the need to regulate the sector. The Financial Monitoring Agency of the Republic of Kazakhstan reported earlier on Tuesday that 55 illegal mining farms “voluntarily stopped their operation” due to an enforcement campaign by the regulator, and another 51 entities’ operations “were terminated.” The enforcement operation targeted illegal mining operations that compromised the nation’s energy network. The agency called for developing a clear regulatory approach to crypto mining in its release. According to the....
United States Attorney General Eric Holder has warned of potential criminal attraction to bitcoin and other virtual currencies, according to The Wall Street Journal (paywall). "More than ever before, the department's law-enforcement work today must contend with new and emerging technology, including virtual currencies such as bitcoin," Holder was quoted as saying to the House Judiciary Committee at a hearing on Tuesday. "Virtual currencies can pose challenges for law enforcement given the appeal they have among those seeking to conceal illegal activity." At the center of this "illegal....
A new analytics service called MatrixVision aims to make bitcoin "cleaner than cash" for large trade volume enterprises, helping them to avoid association with illegal activity and stay on good terms with their partners in the traditional finance industry. Bitcoin exchanges, payment processors and fund managers are seeing huge amounts of wealth pass through their servers. As this rises even further, many are concerned not only that a proportion of this traffic could be the proceeds of illegal activity, but also about actions that could be taken against them by regulators and law....
EPIX recently announced that they would be premiering a new documentary on the underground internet black markets known as the Deep Web. They just released a new trailer for this film and, I have to say, it looks exciting. For those that may not know about the deep web, it's indirect connection with Tor. In a layman's explanation, Tor is a technology that bounces your IP address around to others and makes your internet browsing anonymous to prying eyes. It comes with its own web browser as well, allowing anyone to travel freely online. The technology is far more complicated than a simple....