Following the success of working with local law enforcement bodies in clamping down on cryptojacking, Interpol is now targeting darkweb and crypto crime with assistance from a South Korean startup.
Interpol Gets Help to Track Darkweb Crypto Crime
Interpol is getting serious about cracking down on crime on the darkweb. Much of the illicit activity that happens there is funded with cryptocurrency. According to an official release today, the International Criminal Police Organization has signed an agreement with a South Korean startup S2W LAB to provide data recovered from the darkweb.
The darkweb has emerged as a veritable hotbed of activity for criminals and bad actors. But, it’s extremely difficult to track the information that flows through it, which means that many dangerous criminals are never brought to justice.
Some of the most rampant illegal trading that takes place involves the swapping of credit card details, passport information, and even revenge porn from all around the world.
S2W LAB Has Compiled a Darkweb Database
Formed in 2018, the South Korean data intelligence startup has tracked vast amounts of data from the darkweb and established its own database. By using an AI-based multi-domain analytic engine, the company can analyze the data and look for links among multiple timeframes and domains.
S2W LAB caught Interpol’s attention thanks to some of the authoritative papers it has published on the subject as well as a number of international patents it has authorized. These include the Web Conference (WWW) on the subject of Dark Web and cryptocurrency analysis and the Network and Distribution System Security Symposium (NDSS). It also recently acquired a Series A investment round worth $5 million.
CTO of the company, KAIST professor Shin Seung-won, has been appointed and is a member of Interpol’s “Global Cryptographic Bank Crime Prevention Subcommittee.” He commented:
Responding to the cybercrime on the Dark Web is very difficult due to its characteristics and wide usage of cryptocurrencies… We will cooperate with international investigations with our technologies and contribute to the technology to be used for good purposes.
Do you think Interpol’s investigation into the darkweb bodes well for crypto? Let us know your thoughts in the comments below!
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