Elliptic: UK Bitcoin startup plots future in dark web forensics

http://www.techworld.com/security/elliptic-uk-bitcoin-startup-plots-future-in-dark-web-forensics-3643784/

Selections:

What Elliptic's methodology does is look beyond single transactions using clustering analysis to tie specific bitcoin identities - individuals can use large numbers to make life harder for investigators - to strings of transactions. This requires manual targeting of darkweb forums to trace identities which are then connected to transactions resulting in a risk score, zero being fine, 10 being a warning flag.

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Peering deeper into bitcoin transactions and the identities behind them is supposed to be extremely difficult but according to Elliptic co-founder and CTO Dr Tom Robinson the company found a way to do just that to service customers in financial services and, more recently, law enforcement.

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Patterns still exist. Criminals transact on a different scale and in a different way to simple currency investors and this in theory makes them traceable. After the hype about blockchain anonymity, the Achilles heel of the criminal is always identity. At some point criminals still need to cash out through an exchange.

A second market has been law enforcement agencies hunting down criminals using bitcoins to receive ransomware payments, mentions Robinson.


Comments


[1 Points] octomarvel:

Beyond the anonymity of the blockchain itself and its multiple identities users will attempt to hide their tracks using what are called tumblers, services that ‘wash’ bitcoins to boost their anonymity. The number of these transactions is a small percentage of the bitcoin market but they’re the ones nobody wants to be left holding.

2 bucks bbmc is behind this start up.

=)


[1 Points] tokyonacid:

Wait, so does this mean that UK DNM users can't post about what they do here on the sub?


[1 Points] bebopandrocksteady11:

ok this is what you do with these kinds of things. these people are targetting us and our freedom and livelihood. there are a lot of us that they are basically waging war on. so what we do is we target these startups back. they want a war we give it to them. find out the names of the people involved in trying to stop us and target them. hack them doxx them. whatever it takes. they want a war give it to them. dont just let them attack us without attacking back. make the next guys think twice about going to war with us.