TRM Labs to Bring Crypto Tracing Tools to Solana

The company is the first of the major crypto trackers to bring its compliance tools to the Solana blockchain.

Sep 23, 2021 at 3:36 p.m. UTC
Updated Sep 23, 2021 at 5:15 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

TRM Labs is adding tracing support for the Solana blockchain, CEO Esteban Castaño told CoinDesk.

The blockchain analysis company is the first to integrate with Solana. It comes as the high-speed network booms in popularity after weeks of surging price for its native SOL token.

Exchanges and government investigators use blockchain analysis tools to get ahead of suspect transactions and tamp down on illicit crypto flows, Castaño said. He said TRM will “ingest raw blockchain data” on Solana transactions in part by running nodes.

“We’re not doing other forms of large-scale data collection,” he said, emphasizing that TRM focuses instead on “enriching blockchain data.” He said TRM maintains a database of rug pulls and bad actors against which to track assets.

One of the industry’s methods was exposed this week in a CoinDesk scoop that showed Chainalysis to be operating a honeypot site for capturing suspects’ internet-protocol addresses.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Trending

1
Fireblocks Deploys ‘Web3 Engine’ for Firms Eyeing GameFi, NFTs

The custody and wallet tech provider is looking to expand beyond institutions involved in DeFi to a broader developer community around gaming, social media and entertainment.

The custody and wallet tech provider is looking to expand beyond institutions involved in DeFi to a broader developer community around gaming, social media and entertainment.

2
A16z Addresses Downturn in Inaugural State of Crypto Report

The inaugural report discussed Web 3 trends and why Ethereum remains the dominant blockchain.

The inaugural report discussed Web 3 trends and why Ethereum remains the dominant blockchain.

3
Citi Says Fallout From Terra Collapse Unlikely to Hit Wider Financial System

Recent weakness in bitcoin and equities looks contemporaneous and doesn’t show any lag or lead effect, the bank’s analysts said.

Recent weakness in bitcoin and equities looks contemporaneous and doesn’t show any lag or lead effect, the bank’s analysts said.

4
Coinbase Pares Back Hiring Plans Amid Weak Earnings, Poor Market Condition

The exchange previously planned to hire as many as 2,000 employees earlier this year.

The exchange previously planned to hire as many as 2,000 employees earlier this year.