Franklin, Andrews, Kramer & Edelstein

[scion]

Sitting with the cyber-sleuths who track cryptocurrency criminals

Crypto­currency networks are turning out to be far less private than we thought, and forensic investigators are on the case.

by Douglas Heaven April 19, 2018
https://www.technologyreview.com/s/610807/sitting-with-the-cyber-sleuths-who-track-cryptocurrency-criminals/

“So this might be a mining pool paying out rewards to the people who have contributed to finding some blocks.” He points to a curious cluster of shapes on the screen.

“Ah, this structure here is interesting,” says Knottenbelt. Several blue circles appear—more payouts to multiple accounts—but they are knitted together by a cross-hatch of yellow lines. It looks as if someone scribbled on the display with a Sharpie.

What Knottenbelt has just noticed could be the first evidence of a sophisticated criminal at work.

An industry has sprung up to help fight back. New forensic tools are allowing authorities to follow the money through cryptocurrency networks that are turning out to be far less private than their founders hoped. Just as closed-circuit cameras turned bank robbers from celebrated criminals into easily caught rubes, researchers hope that their advances can turn anonymous thieves into known prisoners, and make the cryptocurrency world safe for the average customer.

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https://www.technologyreview.com/s/610807/sitting-with-the-cyber-sleuths-who-track-cryptocurrency-criminals/