March 21, 2020 | AtoZ Markets – Interpol is taking crime suppression in the darkweb seriously. Cryptocurrencies are used to finance the illegal activity that happens there.
Interpol targets darkweb and crypto crimes with help from South Korean firm
According to an official statement, the International Criminal Police Organization has signed an agreement with a South Korean startup S2W LAB to provide data recovered from the darkweb.
The darkweb has become a real focus of activity for criminals and bad actors. But it is extremely difficult to trace the information that flows through it. This, however, means that many dangerous criminals are never brought to justice. Some of the most rampant illegal exchanges taking place involve exchanging credit card data. Others also include swapping passport information and revenge porn from around the world.
S2W LAB has a Darkweb database
Established in 2018, the South Korean data intelligence startup has tracked large amounts of data from the darkweb. As a result, the firm has formed its own database. Using an AI-based multi-domain analytics engine, the company can analyze the data. It can even search for links between multiple time frames and domains.
2W LAB caught Interpol’s attention thanks to some of the authorized documents it has published on the subject, as well as a number of international patents it has authorized. These include the Web Conference (WWW) on the subject of Dark Web and cryptocurrency analysis and the Network and Distribution System Security Symposium (NDSS).
Furthermore, it recently acquired a $5 million Series A investment round. The company’s technical director, KAIST professor Shin Seung-won was appointed and is a member of Interpol’s “Subcommittee on Crime Prevention of the Global Crypto Bank. He said:
Responding to cybercrime on the Dark Web is very difficult due to its characteristics and the extensive use of cryptocurrencies… We will cooperate with international investigations with our technologies and will contribute to the technology being used for good purposes.
Do you think Interpol’s darkweb research bodes well for crypto? Share your thoughts in the comments section below!