Research Reveals Rate of Illicit Darknet Transactions to Spike 50% Annually

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The research carried on by the Blockchain Intelligence firm, elliptic has discovered that the amount of the illicit darknet transactions on the dark web is growing at an annual rate of 50 percent. The firm that tracks the Cryptocurrency and works with the various law enforcement agencies like the FBI and CIA has noted that even though many activities on the dark web are not illicit, yet a persistent portion of the dark web practices drug trafficking, money laundering, terrorism, child abuse and extortion.

The Elliptic implements the web-scraping tools to scan both the dark web and the surface web for the information (Illicit Darknet Transactions) that is made available for the public that includes the Cryptocurrency addresses. The firm also draws on the court documents and records. The chief scientist and the co-founder of Elliptic, Tom Robinson has stated to the TechWorld that the Cryptocurrency addresses are very often used in the prosecution documentation in case a suspect is convicted of a Cryptocurrency related criminal activity. A team of experts also search the dark web continuously to gain insight into how the criminals are utilizing Cryptocurrency.

The firm also utilizes various machine learning techniques to foretell that how much probability is there that a given Cryptocurrency address belongs to a particular real-life entity. In place of having to search through thousands of the transactions associated thousands of the addresses used by a dark web market, they look at the addresses that are known to belong in the market and that use the machine learning technique as a way to discover more associated transactions. Elliptic also provide investigative and forensic services that are mostly oriented towards the law enforcement agencies. The company aids them by providing a graphical transaction explorer which actually helps the agencies to figure out and nab the culprits that are involved in darkent related crimes.

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