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A service that helps cybercriminals to launder money by turning off encryption technology

A dark web service called Antinalysis made it easier for cybercriminals to use cryptocurrency to launder money by analyzing their risk of being flagged by law enforcement, but it was shut down shortly after it was disclosed to the public.

The service was discovered by a company called Elliptic, which uses blockchain analysis to help crypto asset companies meet regulatory anti-money laundering requirements. Elliptic shared his A blog post August 13, BBC Quick report Regarding “the evil new tricks cybercriminals use to avoid arrest.”

The trick? Follow law enforcement organizations and companies such as Elliptic to provide blockchain analysis to determine the level of suspiciousness of cryptocurrency wallets. Cybercriminals can use the tool to check whether it is safe to launder money through regulated exchanges. The tool reportedly charges $3 for Bitcoin wallet scanning.

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According to reports, Antianalysis provides an overall risk score for scanned Bitcoin wallets and individual breakdowns of specific funds. “Darknet markets, ransomware and the proceeds of theft are considered’extreme risks’,” Elliptic said, “while funds from regulated exchanges and newly mined tokens are classified as’risk-free.'”

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