Two tech firms are joining forces to improve cryptocurrency security and curb cyber crime. Skry and Terbium Labs announced their partnership to monitor public key transactions over the dark web.
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Skry & Terbium Labs Partner To Analyze Permissionless Blockchain Activity.
Back in April, blockchain analytics firm Coinalytics rebranded to Skry, Inc. The name Skry means “foretell the future using a crystal ball or other reflective surface.”
On October 12, the company announced a partnership with intelligence company Terbium Labs to help fight cyber crime. The companies say they will help financial institutions, Bitcoin companies and law enforcement investigate criminal activities.
While announcing the collaborative effort, the companies also released a detailed case study on the darknet. In essence, they explained Bitcoin and blockchain technology are “under attack” from criminal elements. The data firms also mentioned unlawful activities including extortion, hacked exchanges, and financing drug trafficking.
Skry and Terbium said, “permissionless blockchains and the nature of digital and decentralized currencies have opened the door to a wide variety of illicit actors.”
Furthermore, mixing applications such as CoinJoin, Confidential Transactions and Mimblewimble provide privacy and anonymity. The report explained that even though these platforms enhance user privacy, they “impede investigators trying to trace transactions back to a real-world entity.”
https://news.bitcoin.com/firms-will-monitor-blockchains/
