Interpol Enlists Korean Startup to Track Crypto on the Dark Web
Interpol partners with a South Korean startup that specializes in examining crypto flows on the dark web to help fight darknet cybercrime.
The International Criminal Police Organisation (Interpol) has announced a partnership with South Korean data intelligence startup, S2W Lab, to analyze dark web activity, including cryptocurrency transactions.
The startup announced the partnership on March 20 — with S2W Labs signing a one year contract with Interpol.
Interpol sets its sights on the dark web
S2W Lab claims to have “captured a massive amount of Dark Web data” and “established a Dark Web database.” The S2W examines the data using artificial intelligence to establish “links among multiple domains and among multiple timeframes.”
S2W boasts that it has secured several patents “on the subject of Dark Web and cryptocurrency” analysis.
Suh Sangduk, S2W Labs’ CEO, emphasized the challenges of responding to cybercrime on the dark web due to the “wide usage of cryptocurrencies.”
He adds that the partnership will see S2W “cooperate with international investigations” to ensure that distributed ledger technologies are “used for good purposes.”
S2W identifies black market for face-masks amid coronavirus panic
After the startup launched in September 2018, it developed methods of analysis alongside researchers from the Korea Advanced Institute of Science and Technology University.
On March 19, S2W Labs identified the formation of a black market for face-masks on Dark Web marketplaces.
The firm analyzed the prevalence of keywords pertinent to coronavirus across popular darknet markets, discovering that 10-packs of face-masks are frequently selling for between $85 and $170 on leading anonymous marketplaces.
On Feb. 20, S2W identified the personal information of 3 million Koreans that had been leaked onto the dark web.
Interpol cracks down on cryptojacking
During January, Interpol announced that it had reduced the number of MikroTik routers infected with cryptojacking malware in South-East Asia by 78%.
Through a partnership with cybersecurity firm, Trend Micro, Interpol issued “Cryptojacking Mitigation and Prevention” guidance throughout the South-East Asian region.
The initiative resulted in the restoration of more than 20,000 affected routers.