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Korean startup partners Interpol to track crypto on dark internet

As the difficulty of tracking across the Dark Web made it an epicenter of cybercrimes, some companies team up with officials to help fight the trading of stolen confidential data and other illegal activities.

The South Korean cyber threat intelligence startup S2W LAB partnered with Interpol to support data analytics. According to the official announcement the company entered a one-year contract with Interpol to analyze and monitor dark web activity, including the transactions of cryptocurrency. Suh Sangduk, the CEO of S2W LAB said:

Responding to the cybercrime on the Dark Web is very difficult due to its characteristics and wide usage of cryptocurrencies.

The report claims the lack of relevant tracking tools has led Dark Web portals to emerge as a hotbed of cybercrimes, including the illegal trade of credit cards, passport, and other sensitive information.

A data intelligence startup, established in 2018, has been collecting data and analyzing the dark web using a unique, AI-based “multi-domain analytic engine.” S2W LAB is in the process of setting up a database, that will find links between multiple domains across multiple timeframes.

Darknet is active

Dailycoin wrote previously that illegal markets of Dark Web are showing an increasing amount of cryptocurrency flows. Since scams are the biggest threat and the highest-earning category of crypto crime, the numbers of digital assets, spend on the Darknet, have doubled for the first time in four years.

The biggest part of Dark Web transactions flows through virtual asset exchanges. They are the essential part of the scheme, where customers send crypto payments to vendors and vendors then send funds to cash out.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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