The battle between criminals and the authorities is ongoing in the cyber-realm world. Several cyber-criminals have been caught in the last few years. Many new techniques can track their funds around the cryptocurrency blockchain. Advanced technologies are capable to check all public transactions between wallets. But the anonymous nature of cryptocurrencies is increasing the risk of being trapped.
Recently cyber-criminals are using a fiendish new trick to “clean up” their digital footprints. The new service has launched on the darknet which is offering criminals a way to avoid any online mark.
The chief scientist and founder at analysis provider Elliptic Dr. Tom Robinson explained, “We’re seeing criminals start to fight back against blockchain analytics and this service is a first.” He also added, “It’s called Antinalysis and criminals are now able to check their own Bitcoin wallets and see whether any association with criminal activity could be flagged by authorities.”
Elliptic says the discovery shows how cyber-crime networks are becoming sophisticated and they are trying to avoid getting caught. Dr. Robinson stated, “It’s a very valuable technique. If your funds are tainted, you can then do more laundering and try to remove that association with the criminal activity until you have clean coins.”
This new trend could make cybersecurity more challenging. Law enforcement may need harder effort to ensure the security of the cyber world. That’s why Governments around the world are trying to tackle the growing problem of money laundering through cryptocurrencies and social media hacks.