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Criminals have actively used cryptocurrencies for many years, confident they would remain undetected. However, with the development of regulations and on-chain analysis tools, this has started to change. Perpetrators of long-past crimes are now being identified.
Chainalysis and Court Evidence
Crypto on-chain intelligence will be among the professions of the future, and we already have a very good example today. In the United States, Roman Sterlingov was found guilty in a case where the defendant was accused of laundering tens of millions of dollars from darknet markets known for illegal drug sales. There were four different charges, and we had shared the details.
This case was particularly significant because the Court accepted on-chain evidence provided by Chainalysis as proof. The company recently announced the following:
“This case is meaningful because the Court strongly rejected the defense’s objections regarding the admissibility of Chainalysis blockchain analyses as evidence.
This decision sets a precedent for prosecutors to use Chainalysis blockchain analyses as evidence when bringing criminals to court. It is a win for government agencies that use our solutions to investigate illegal activities and deliver the criminals behind these transactions to justice.
The Daubert ruling clarifies questions about the effectiveness of Chainalysis analysis solutions asked during the trial.
Firstly, it asserts that Chainalysis analysis solutions, especially Reactor, are highly reliable in clustering and associating. The ruling shows how external sources consistently validate the results of our solutions. The order provides clarity on the peer review of our intuitive methods. The decision also clarifies the precedent review of our behavioral heuristic methods and attributions. Consequently, this order confirms the path to industry standard status for our solutions enabled by our government partners who use our tools every day to combat illegal activities.”
The Future of On-Chain Intelligence
While states are still not conducting comprehensive studies on crypto regulations, on-chain intelligence remains much more complex for them. We have seen several times in the past how baseless allegations made by American politicians solely to blame cryptocurrencies have gained attention.
Crypto analysis companies (especially Chainalysis) have countered these unfounded claims. Now, with this precedent-setting decision, government agencies may be entering a new era where they receive more support from companies like Chainalysis, and crypto criminals find themselves in an even more difficult position.
In the next phase, we might see analysts, agents, tax auditors, and law enforcement personnel dealing with cybercrimes in government agencies being trained by companies like Chainalysis.
