Cellebrite Launches New Crypto Tracer Solution To Help Fight Crypto Crimebr>
Digital intelligence firm Cellebrite has launched a new comprehensive crypto investigation solution designed to accelerate investigations involving blockchain technology and cryptocurrency.
Based in Israel, Cellebrite manufactures data extraction, transfer and analysis devices for cellular phones and mobile devices. The company is a subsidiary of Japan’s Sun Corporation.
It’s no secret that anonymity has been a driving force in the growth of cryptocurrency — just last year over $76 billion in illegal activities involved bitcoin. Cellebrite’s new solution, called Cellebrite Crypto Tracer, aims to shed light on these criminal transactions and accelerate financial investigations involving Bitcoin, Litecoin and others, by referencing millions of attributable data points on the blockchain. Powered by CipherTrace, the solution will empower law enforcement, federal agencies, border control, etc. to lawfully acquire evidence and trace criminals that use crypto for illicit activities, including money laundering, terrorism, trafficking and more.
“The Cellebrite Crypto Tracer Solution is designed to reveal illicit transactions using cryptocurrencies and enables investigators to aggregate and curate millions of open source and private references, deception data and human intelligence, resulting in a dataset of over 522 million attributable points,” Cellebrite said. “These data points give investigators full visibility into the lifespan of cryptocurrency transactions, including where the money originated and where it went, in both wallets and exchanges. Graphic mapping and color-coded threat level transactions enhance the visualization and understanding of the activities and accelerate investigators’ abilities to pinpoint primary and associated criminal activity and its perpetrators.”
According to the company, the solution will give investigators the ability to utilize a blockchain search engine, conduct risk scoring, show a deep analysis of potential risks, demonstrate high-quality advanced attribution, leverage a massive transaction database, and operate with integrated case management. The solution also includes cryptocurrency investigation services and cryptocurrency investigation training.
“It has long been assumed that blockchain and cryptocurrency transactions remain untraceable and unknown,” said Leeor Ben-Peretz, Chief Strategy Officer of Cellebrite. “This is a misconception. As a matter of fact, the essence of blockchain is to indelibly keep a record of each step of every transaction. We’re enabling investigative teams to extract this information and use the power of Digital Intelligence to aid them in interpreting the data needed to identify illicit blockchain activity and keep communities safe.”