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

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.

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