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Bitfury Launches Crystal — A Blockchain Investigative Tool for Law Enforcement and Financial Institutions

 AMSTERDAM — Jan.  30, 2018 — The Bitfury Group today released Crystal, a new, all-in-one  Bitcoin Blockchain investigative tool designed for use by law  enforcement organizations and financial institutions.Crystal  provides a comprehensive view of the Bitcoin Blockchain and uses  advanced analytics and data scraping to map suspicious transactions and  related entities. The ground-breaking tool also offers a proprietary  “risk scoring” system to assist investigators in revealing and tracking  malicious behavior. Crystal was designed to be used by law enforcement  agencies to track suspicious bitcoin transactions to real-world entities  and determine relationships between criminal actors, and by financial  and other institutions engaged in compliance and due diligence  activities.“Public  blockchains have the potential to fundamentally improve our day-to-day  lives and be strong forces for social good,” said Valery Vavilov, CEO of  the Bitfury Group, the world’s leading full-service blockchain  technology firm. “Unfortunately, there are people who exploit public  blockchains and take advantage of their pseudonymity to commit crimes.  Bitfury’s new Crystal tool will make it much easier to identify and  track criminal activities on the blockchain. With Crystal, we are taking  a critical step toward ensuring that the Bitcoin Blockchain and other  public blockchains have a safe and secure future.”While  blockchain and cryptocurrencies offer significant benefits as tools for  peer-to-peer asset transfer, they are also susceptible to misuse by bad  actors. As blockchain becomes more widely used, a broader set of tools  is needed to track criminal behavior.Bitfury’s  Crystal is the most comprehensive tool to date, with the ability to  link pseudonymous bitcoin payments to real-word entities, identify  ownership of bitcoin wallets and connections between different  blockchain entities and provide substantial evidence for use by  financial investigators.ABOUT CRYSTALCrystal  has a wide range of attributes that ensure blockchain investigations  are performed in the most efficient and effective way possible.Comprehensive Tool KitCrystal  gathers all information available online into one convenient,  user-friendly format. Blockchains contain vast amounts of data; Crystal  scours that data and analyzes it. Blockchain data is often not linked to  a specific entity — especially when it comes to illicit activities.  Crystal goes beyond Blockchain and collects information about Bitcoin  addresses and entities from other sources, such as web forums and other  websites where Blockchain users congregate. Thanks to this comprehensive  approach, Crystal can reveal not just an entity’s address, but also its  actual real-world name.User-Friendly ExplorerCrystal’s  interface is easy to use and more functional than other blockchain  explorers available today. The intuitive tool enables investigators to  focus only on relevant transactions and addresses, while also giving  them the option to explore the details of particular transactions.Autonomous TrackingWith  Crystal’s unique tracking feature, you don’t have to spend days  manually tracing suspicious transactions. Crystal can do this for  you — in a matter of hours. Crystal gives you a complete visualization  of transactions and a final destination address, or an exchange service  address where funds were withdrawn as a fiat currency. You can be  notified by email that results are ready. So you can work on other tasks  while Crystal is working for you.Detailed Risk ScoringCrystal  helps investigators evaluate and compare risks of transactions. Armed  with this “risk-score,” law enforcement agents and other investigators  can trace the most suspicious transactions to a final address or  withdrawal point. To produce a risk score, Crystal tracks the  relationships of an entity with identified bad actors (such as dark  market traders) or reliable parties. From that, Crystal estimates the  risk score of a blockchain address — essentially, the chance that the  address is related to illegal activity. Results of data analysis are  presented as a visualization graph, which can be used in other software  tools, or to prepare legal reports that supplement an investigation.InteroperabilityCrystal  is the central data source of cryptocurrency analytics for Blockchain  investigations. Thanks to its REST API, Crystal can serve as a  foundation for a set of automated tools that track and assess  transactions for you. Investigators can see analytical results in the  Crystal interface, or they can integrate the results into their existing  software tools.Entity InteractionCrystal  provides evidence of connections between different participants on the  Bitcoin Blockchain, making it easy to determine whether any transactions  took place between two entities. Crystal then reports these findings in  a user-friendly format — including the total number of transactions and  the amount transferred between two entities during a specified amount  of time.Advanced Analytical Services (Untangling, Clustering, Data Parsing)An  entity can use several bitcoin addresses, and one transaction may  distribute funds to several entities, making it difficult for  investigators to monitor a specific entity. Crystal enables you to stay  focused only on what matters in your investigation. Crystal can easily  track a certain entityand  the flow of its funds by using our efficient algorithms, which group  addresses belonging to the same owner into a cluster and keep you  focused on the transactions in question.Secure Infrastructure SupportCrystal  Pro, a customized software, can be used as an internal investigation  tool, deployed on your in-house infrastructure in compliance with  internal security policies. The data you enter into Crystal will never  leave the secure perimeter of your corporate network.About the Bitfury Group:The  Bitfury Group is the leading full-service blockchain technology company  and one of the largest private infrastructure providers in the  blockchain ecosystem. The Bitfury Group develops and delivers both the  software and the hardware solutions necessary for businesses,  governments, organizations and individuals to securely move an asset  across the blockchain. The expertise of the Bitfury Group ensures  successful, easy, fast, secure and cost-effective connectivity to the  blockchain. Bitfury is a global team of experts in technology, business,  communications, security and civil society. Bitfury believes the  blockchain will open new doors for global economic opportunity and  prosperity, and its mission is to create and advance blockchain  applications that will further promote innovation and the advancement of  the peer-to peer economy
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