Blockchain Investigation Agency logo – Zurich, Switzerland
The Blockchain Investigation Agency is a division of Swiss Security Solutions LLC headquartered in Zurich, Switzerland.
If you fail with honor, you will succeed through deception. “
ZüRICH ZH, SWITZERLAND, February 21, 2021 /EINPresswire.com/ – Blockchain Investigation Agency – New global, international and Swiss website for Blockchain Fraud and Bitcoin Fraud Case Processing. Before we go any further, let’s explain why we need Blockchain Investigation Agency.
While many current cryptocurrencies provided pseudo-anonymous identifiers, some are now developing levels of anonymization that hide both the sender and recipient of a transaction. This anonymization will make it increasingly difficult to detect and investigate a range of crimes. Since we have public blockchains, the pursuit of anonymization in both transaction and processing is a key element in protecting privacy and maintaining consent. Monero is a currency that has taken a leadership role here, using ring signatures and stealth addresses. There is also an increase in anonymized processing, for example in the case of zk snarks. These mechanisms now support hiding from the core information of a transaction, but where it is possible not to double-spend or to spend more currency that has been assigned to a user.
In a traditional financial infrastructure, John trusts his bank (Bank A) and Julie trusts her bank (Bank B). When making a transfer, John needs to identify Julie’s Bank ID (e.g. bank code) and your account ID. When making the transfer, he informs his bank that he would like to transfer the transfer to Julie. John’s Bank then verifies the transaction and if it is valid, the defined amount will be charged to his account. His bank then forwards the transaction to Bank B, where Julie’s Bank will credit her account. This way, both Bank A and Bank B have a ledger that can be checked for the transaction. This method is good for investigating criminal offenses because any bank can report on Bob and Alice’s transactions and also detect unusual transactions. Within the Bitcoin infrastructure, John and Julie each generate a private key and then derive an assigned public key. This public key is then used to create a public identification address for transactions. Now when John wants to send Julie some money, he determines her public address and then creates a transaction to send her a series of bitcoins. This is then signed with his private key and then picked up by miners who will aggregate all other recent transactions and establish consensus on the transactions to be added to a new block on the blockchain. Before that can happen, the transaction needs to be verified to see if John has enough bitcoins in his account to pay Julie. This verification is why the transactions have to be public because the miners won’t be able to process the transaction if John doesn’t have enough money to pay Julie.
Challenges for the Blockchain Investigation Agency ?!
The new challenge for investigators is to understand the technical process that occurs during the transaction methods for each cryptocurrency algorithm. This understanding could range from the difference in the transaction system for Bitcoin-style systems to the state-run smart contract systems of Ethereum. The further development of the methods used also increases the challenge for the investigation, as Ethereum switches from the EVM (Ethereum Virtual Machine) to state channels, plasma, sharding and upgrades to EWASM (Ethereum Flavored WebAssembly). There are also a number of challenges that investigators must face in order to admit defeat and work with companies that have deeper visibility and resources to solve problems. Chainalysis and Elliptic are examples of leaders in the field of research and monitoring of cryptocurrencies. They use address information that they can obtain and that is not visible to an investigator using block explorers and OSINT (open source intelligence) techniques. This information is provided in the products they provide, which can point to services where further investigative clues can be investigated. Law enforcement would need to build a bespoke infrastructure to scratch and build complex data structures to achieve such visibility. The emergence of new crypto-economies is greater than that of currency and payout. The ability to buy real estate or rent property shows how far that internet money has come in a relatively short amount of time. The purchase of consumer goods is possible through direct purchase, intermediaries, gift programs / cards, debit cryptocurrency cards. Although, as wildly reported, the license for Wavecrest was removed from Visa, a large number of cryptocurrency debit card schemes that had enabled the transfer of cryptocurrency to cards were disabled. However, there are a number of similar alternatives that are still available worldwide and are likely to emerge with stronger KYC (Know Your Customer) / AML (Anti-Money Laundering) terms and conditions. With projects designed to enable payment for cryptocurrency using near-field technology applications, a disruptive innovation is likely to take place in the future. This already diverse use of assets describes only a fraction of the use that is possible now and certainly in future blockchain use cases. Local bitcoins also deal with peer-to-peer sharing, which offers online user’s exchange models for online users, but also the ability to meet on the street to exchange cash for cryptocurrency. This allows more users to get involved and buy, but it is not without its flaws, as those exposed to fraud and deception would attest.
How can the Blockchain Investigation Agency help people and organizations ?!
They offer Blockchain Investigative Services and Solutions, Incident Response, Blockchain Forensics, Investment Fraud Response, Cryptocurrency Investigations Services and Expert Witness Services in civil or criminal matters. Your case is covered by the Blockchain Investigation Agency with a service guarantee of up to USD / CHF 10 million. (Liability insurance).
The Blockchain Investigation Agency specializes in blockchain forensics and tracking Bitcoin, Ethereum and other cryptocurrencies in personal, corporate, financial and fraud investigations.
Swiss Security Solutions LLC
+41 44 586 60 33
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February 21, 2021 at 1:46 PM GMT
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