Alleged Dark Web Blockchain Analytics Tool Antinalysis Suspended
Right now•2 min read•Blockchain
Antinalysis, a new tool that allows dark web users to see if funds are likely to be flagged as proceeds of crime by crypto exchanges, has been suspended.
Regulated crypto exchanges use analytics tools provided by firms like Elliptic to check customers' deposits' links to illegal activity, through analysing whether they emanate from a wallet with such links. Antinalysis aims to circumvent this by giving users a preview of the risk identified with crypto and therefore the chances of it leading to their exposure should they deposit it on an exchange. "The tool represents a significant new capability for crypto launderers," Elliptic co-founder Dr Tom Robinson wrote. "They can now test their own laundering methods, be it the use of mixers or layering techniques, by screening their own Bitcoin wallet, before taking the risk of making a deposit at an exchange or other service provider." Robinson also pointed out that Antinalysis makes blockchain analytics available to the public for the first time, enabling crypto users who are concerned about receiving the proceeds of crime to pre-screen addresses before accepting bitcoin. "To date, this type of analysis has been used primarily by regulated financial service providers," he added.