The Future of Investigations and Privacy on the Blockchain
Public Key
The Future of Privacy Pools
Prior to sanctions, tornado cache had a mix of funds falling through it. Some that were clearly illicit and part of their laundering was using tornado cache. A lot of activity that appeared to be innocent didn't want the world to know they were moving funds in a particular way. So now that the sanctions have been put in place, all of that legitimate activity is gone. But the criminal activity levels are actually roughly the same as they were to the sanctions.
The Future of Investigations and Privacy on the Blockchain
One of the biggest challenges in overseeing the evolving blockchain space is balancing privacy with blockchain investigations.
In this episode, Ian Andrews sits down with blockchain investigations specialist and trainer, Rick Harmsen, Cryptocurrency and Blockchain Specialist & Trainer at DataExpert, to discuss the challenges faced by law enforcement in combating crypto and cybercrime. He details the recent trends that law enforcement have seen recently in investigative activity, including Pig Butchering, Chain-hopping and other obfuscation methods.
Rick touches on the importance of privacy in the crypto space and the development of decentralized finance (DeFi) platforms, decentralized mixers and the emergence of Privacy Pools.
The discussion highlighted the importance of education and training in the crypto and blockchain industry and Rick explains why he doesn’t think the Metaverse is dead and how future generations will prioritize web3 ecosystems.
- (2:45) - Rick’s career transition from law enforcement to cryptocurrency and blockchain investigations specialist and trainer at Data Experts
- (6:35) - Is Law Enforcement trained to fight sophisticated crypto and cyber attacks and nation state sponsored hackers?
- (9:45) - Why are more and more compliance professionals obtaining crypto compliance and blockchain investigations training?
- (10::37) - The biggest trends in crypto and DeFi criminal activity from pig butchering to chain-hopping
- (16:54) -How do we secure privacy on the blockchain without facilitating criminal activity and complying to regulatory requirements?
- (23:02) - Digital Experience Nordic Conference and the growing trends discussed by cyber investigators and counter-fraud organizations
- (26:50) - Why Rick thinks the Metaverse isn’t dead and will be at the forefront of web3 technology and gaming in the coming years
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
- Website: DataExpert: Digital Investigation & Cyber Security Solutions
- Training:: DataExpert Academy - Analytics | Cryptocurrency | Cybercrime | OSINT | Digital Forensics | Cyber Security | FEC
- Event: :Digital Experience Nordic - Stockholm Sweden
- Report: The Chainalysis Guide to On-Chain User Segmentation for Crypto Exchanges
- Blog: How Did Crypto Markets React to Judge’s Ruling that Ripple Exchange Sales Did Not Violate Securities Law?
- Blog: Understanding Tornado Cash, Its Sanctions Implications, and Key Compliance Questions
- YouTube: Chainalysis YouTube page
- Twitter: Chainalysis Twitter: BuildCareers at Chainalysising trust in blockchain
- Tik Tok: Building trust in #blockchains among people, businesses, and governments.
- Telegram: Chainalysis on Telegram
- Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
- Rick Harmsen (Cryptocurrency and Blockchain Specialist & Trainer, DataExpert)
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