Part 10: The Value of Blockchain Application

Anti money laundering Skry

In April, 2016, Blockchain analysis company Coinalytics officially renamed Skry. Skry originally refers to “using the crystal ball or other reflector to predict the future”. In October 12^th, Skry announced the decision for the anti-crime network together with intelligent company Terbium Labs. They supply services for the financial institutions, bitcoin companies and the legal operation department for the investigation of criminal activities. Meanwhile, the two companies also published a research report on the dark network with the attacks topic of the bitcoin and blockchain technology from criminals. The report also refers to the common illegal activities , including extortion, exchange attack and finance the drug-traffickers.

Skry and Terbium wrote in the report: public chain, digital currency and the distributed currency have opened the door to the criminals unconsciously. In addition, some mixed currency applications improve the privacy and anonymity to a certain extent, such as Coin Join, Confidential Transactions and Mimblewimble. Even these applications can ensure the user privacy, it also encumbers the anonymous transaction for the investigators tracking to some enterprises.

Skry and Terbium believe that the threat intelligence and risk solutions in the dark network and management network are very necessary. The CEO Fabio Federici of Skry said, working with Terbium Lab can help them to achieve their goal: it is satisfied to enrich the dark data in their platform. High-end technology of Terbium Lab combined with the Blockchain intelligence platform of Skry stimulate inspirations and appeal for more important information for customers.

In the report, Skry lists a detailed case to explain how they fight for crime activities. They will use the Match light system of Terbium to monitor the bitcoin public key. Then all the public keys from Tor, DNM, and forum will be collected and recorded. And the related data will be taken over by the Skry analysis platform, officially entered the analysis phase. The report tested about 3,697,408 URL, mostly from Pastebin site, DNM site, code repositories site and so on. Skry believe that these URL can provide important data intelligence for the investigation program. The analysis result shows that about 11,000 different URL and DNM are bundled together, which contains about 22,000 public keys. According to such data, Skry successfully identified 798 single bitcoin public keys. The report also shows that the biggest dark market are Dream and AlphaBay, and a psychedelic forum Majestic Garden following closely.