Cellebrite, a digital intelligence company, has released the Cellebrite Crypto Tracer solution.

The new show is run by CypherTrace and aims to track illegal cryptocurrencies related to money laundering, terrorism, drugs, human trafficking, arms sales and ransomware.

The toolkit is made available to investigators, analysts and non-technical agents who legally want to obtain evidence and track down criminals who use cryptocurrencies such as bitcoin (BTC) through the darknet.

Citing data from a study from the University of Oxford, Cellebrite states that there is an estimated $ 76 billion in illegal activities involving Bitcoin.

Organizing millions of information links to track transactions
Cellebrite Crypto Tracer Solution allows investigators to collect and organize millions of open source links, personal links, fraud and human intelligence data, resulting in a dataset of over 522 million credited points.

In a speech to Cointelegraph, Cellebrite's Director of Strategy, Lior Ben-Peretz, stated that Cellebrite's Crypto Tracer can allocate millions of data points such as account type, account owners, contract types, contract holders and other metadata. It can also decide where the illegal money is going, whether it is a wallet or a loot.

Ben-Peretz said: “Some of the key features of the solution include the ability to record risk and identify hundreds of global exchanges, ATMs, mixers, money laundering systems, gaming services and known criminal addresses and assign risk levels to transactions.”

The ongoing battle over illegal encryption transactions
John Jeffreys, chief economist at CypherTrace, predicts that as cryptocurrencies become more popular and accepted by traditional financial institutions, criminals will also use them more widely, making them “an ongoing and growing game of cats and mice.”

He added: “When the market value of crypto rises, the biggest economic crimes and the size of a nation state have been. Organizational reform, based on the updated FATF guidelines, will have to arbitrate jurisdictions with the adoption of new laws globally on an asynchronous time frame.”

Jeffries tweeted in a recent hack, stating that he believes the situation could be “much worse and shows that the blockchain community is looking for scammers.”

“When cryptocurrencies first appeared, law enforcement had little understanding of how cryptocurrencies work, and that transactions could be traced in government ledgers. The situation today is quite different. We are working closely with law enforcement under the recent Bitcoin Twitter hack, for example.”

Source: CoinTelegraph