Alleged Dark Web Blockchain Analytics Tool Antinalysis Suspended

Antinalysis helps cybercriminals avoid running the risk of being identified they attempt to cash out their illicit proceeds, according to a blockchain analytics firm.

AccessTimeIconAug 16, 2021 at 1:14 p.m. UTC
Updated Sep 14, 2021 at 1:40 p.m. UTC

Antinalysis – a new tool that allegedly allows dark web users to see if funds are likely to be flagged as proceeds of crime by crypto exchanges – has been suspended.

  • The tool helps cybercriminals avoid running the risk of being identified when they attempt to cash out their illicit proceeds, according to a blog post from blockchain analytics firm Elliptic.
  • Only eight hours after Elliptic's blog was published on Friday, Antinalysis' data sources were seized, according to a message from one of its administrators to a BBC cyber reporter.
  • "Pharoh," the technical administrator for Antinalysis' creator Incognito, claimed that the tool was not meant just for criminals.
  • Regulated crypto exchanges use analytics tools provided by firms like Elliptic to check customers' deposits' links to illegal activity by analyzing whether they emanate from a wallet with such links.
  • Antinalysis aims to circumvent that by giving users a preview of the risk identified with crypto and therefore the chances of it leading to their exposure should they deposit it on an exchange.
  • "The tool represents a significant new capability for crypto launderers," Elliptic co-founder Tom Robinson wrote. "They can now test their own laundering methods, be it the use of mixers or layering techniques, by screening their own bitcoin wallet, before taking the risk of making a deposit at an exchange or other service provider."
  • Robinson also pointed out that Antinalysis makes blockchain analytics available to the public for the first time, enabling crypto users who are concerned about receiving the proceeds of crime to pre-screen addresses before accepting bitcoin. "To date, this type of analysis has been used primarily by regulated financial service providers," he added.

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