Interpol starts clampdown on Cryptojacking after working successfully with law enforcement and a South Korean startup as we are reading in the following crypto news today.
Interpol starts getting serious about tackling some of the worst crimes on the darkweb. A lot of the illicit activity that happens is funded with crypto. According to a press release, the International Criminal Police Organization signed an agreement with the South Korean startup S2W LAB and will provide data recovered from the darkweb. The Darkweb emerged as the perfect spot for criminals and bad actors that use crypto since it is extremely hard to track information which means that there are dangerous criminals that will never be brought to justice. Most of the illegal trading that took place involves swapping of credit card details, passport information and other kinds of blackmail material from around the world.
Formed back in 2018, the South Korean data intelligence startup tracked a lot of data from the darkweb and established its own database by simply using an AI-based engine that is able to analyze the data and will look for links among the timeframes and domains. Interpol considered working with the South Korean startup thanks to some of the papers that it had previously published on the subject as well as the number of international patents authorized in the past. These include the Web Conference on the subject of the Dark Web and cryptoanalysis. Some of the others include the Series A investment round worth $5 million.
The CTO of the company KAIST professor Shin Seung-won became the member of the Global Cryptographic Bank Crime Prevention Subcommittee of Interpol and he commented further:
‘’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.’’
As in the recent cryptojacking news, Thousands of open libraries have been infected by a new type of a cryptojacking code which aims to initiate malicious mining. The latest cryptocurrency news shows that the code was already found in 11 open-source code libraries written in Ruby which have been downloaded thousands of times so far. According to the industry news outlet Decrypt and its reports on August 21, the cryptojacking code has been added to the 11 open sources Ruby libraries distributed on the RubyGems platform. The report also features that the infected libraries were downloaded more than 3,500 times.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]