Investigation & Anti-money Laundering Operations.
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In 2021 alone, data from CBNC report shows that scammers stole a whopping $14 billion in cryptocurrencies. Losses from cryptocurrency crimes are growing.
The implicative effect is loss of confidence from investors and apathy from countries, leading to calls for crypto ban. Somebody needs to step up and create confidence in both investors and the government. The need for industry players to devise ways to tackle this menace in the crypto ecosystem has become imperative more than ever.
OKLink, leading global blockchain big-data company, a division of OKX (formerly OKEX) is right on track with the launch of Chaintelligence Pro 2.0, the world’s first blockchain analysis platform combining blockchain big-data technology and technical investigation methods, to assist police in cryptocurrency-related crime investigations and anti-money laundering operations.
“By the end of last year, the number of cryptocurrency-related crime cases in China had risen to about 6328, with more than 16.3 million people and over 320 billion yuan involved. Confronted with these cryptocurrency-related crimes, police officers are struggling with difficulties including high learning costs, high tracking difficulty, etc.,” said Zhang Chao, vice president of OKLink.
This pioneering technology will ease the work of police and other financial crime enforcement agencies fighting cryptocurrency crimes. It is globally adaptable and can provide the needed information police need in tracking and gathering information for prosecution anywhere in the world.
OKlink has made the Chaintelligence Pro 2.0 to be direct in identifying these crimes with 3 major innovations. They are technical innovation, function innovation and investigation innovation focused applications for the platform:
– Technical innovation: As the first-of-its-kind blockchain analysis platform combining blockchain and big-data technology, Chaintelligence Pro 2.0 could provide accurate on-chain data and save much time and human cost with machine learning, data modeling, Similarity algorithm, and Feature Engineering technologies.
– Function innovation: With functions like Data Visualization, real-time monitoring, smart researching and judging, Chaintelligence Pro 2.0 Provides integrated services of on-chain data monitoring, analyzing, penetrating and governing, which makes it easier for police officers to investigate cryptocurrency-related cases.
– Investigation innovation: Based on the practical experience accumulated by Chaintelligence 1.0, the 2.0 version could track on-chain data with technical investigation methods, letting the data do the research and investigation job.
“Data security plays a vital role in the coming digital economy age,” Zhang Chao said. “Over the last year, Chaintelligence 1.0 has assisted in cracking down over 80 cases and recovering over 30 billion worth of crypto assets. In 2022, OKLink will boost product innovation, deepen service offerings and speed up industry expansion, pushing forward the healthy and sound development of the blockchain industry.”
This is a clarion call for law enforcement agencies around the globe finding it difficult to tracka and crack crypto related money laundering and crimes to embrace Chaintelligence 2.0
OKLink is a world-leading blockchain big-data company from China, providing users with accurate on-chain data analysis, high-extensibility information solutions and blockchain science education services based on industry-leading blockchain big-data technology. Currently, OKLink has launched products including OKLink blockchain explorer, Chaintelligence, Chainhub and OKLink Academy.