May 31, 2022

Beosin cryptocurrency tracing service is officially launched

Based on one report of Chainalysis, in 2021, the money laundering amount of global internet criminals through encrypted currency reached USD 8.6 billion, increasing by 30% than 2020.

Anonymous property of virtual currency gradually becomes the new objective of criminal offenders. The virtual currency transaction easily produces the illegal and criminal activity risks such as illegal cross-border asset transfer, money laundering, etc. The wallet address of virtual currency doesn’t need to be registered in real name, the transaction process is relatively complex and is difficult to be traced without targeted analytic procedure, which increases the monitoring and prevention and control difficulty. Some capitals are more difficult to be traced after entering “Tornado Cash”, so there is still a big challenge to cut off such money laundering

black industry chain.

Based on that, the Beosin cryptocurrency tracing service built by Global Blockchain Security Company Beosin is officially launched! (click to check detailed service contents through Web Links)

What do we offer?

Beosin cryptocurrency tracing service, as authoritative and professional service, focuses on anti-money laundering field of encrypted currency, and includes anti-money laundering risk evaluation, transaction analysis, encrypted address monitoring, real-time information notice, and encrypted currency forensics report available for law-enforcing department. This service can help us prevent encrypted currency threat, such as fraud, blackmail, asset transferred to Tornado Cash, and other security events, and survey theft cases, and can help customers trace the lost encrypted currency.

· Anti-money laundering risk evaluation service

Through AML risk evaluation, customers can evaluate the risk of every wallet address before executing encrypted transaction to ensure the compliance of AML.

· Transaction analysis services

Regardless of transaction complexity, transaction analysis function can help customers find the final address of stolen encrypted funds. Beosin cryptocurrency tracing service is a library which contains over 300 million marked addresses. We can trace and analyze Coin Shuffle machine like Tornado Cash to find objectives through big data analysis and artificial intelligence algorithm.

· Encrypted address monitoring service

Hackers would often transfer capitals from one address to another address to hide their tracks. Address monitoring function can monitor the suspicious encrypted address in real time. When transmissions starts, new address would be immediately marked and stored in our database for monitoring.

· Forensic analysis report service

We can help you generate a report which contains all information about the surveyed encrypted transaction, including specific encrypted address, implicated transaction, wallet, entity, and their connection in order to explore transaction relationship and find the suspicious activities. Such type of report results can be used to assist law enforcement organization in conducting the relevant survey and

taking actions.

What do we capture? Tracking of capitals into Tornado Cash

Based on the Beosin statistics, 85% of hackers use Coin Shuffle platform Tornado Cash in money laundering process. After capitals enter Tornado Cash, many project losers would be helpless, while Beosin cryptocurrency tracing service can help customers trace the stolen capital and find a little hope in darkness by tearing off the gap of Tornado Cash.

In many events about hacker theft, we can also see the “Tornado Cash”. Why is capital difficult to be tracked after entering Tornado Cash?

· Tracking difficulty with technology

Tornado Cash is the decentralized and non-trusteeship privacy solution for Ethereum and other blockchains of supporting smart contract based on ZK-SNARK (also called as zero-knowledge concise non-interactive knowledge argument) technology. It can improve the transaction privacy by breaking through co-chain connection between source address (depositor) and target address (payee).

· Tracking difficulty caused due to “Coin Shuffle” principle

Tornado Cash users shall transfer capitals to the smart contract of Tornado Cash at first if wanting to conduct the anonymous transfer or Coin Shuffle of capitals. Then Tornado Cash offers users a secret key generated at random as voucher which can certify you have executed deposit, but don’t disclose the original address; Users only need to submit Tornado Cash the random secret key offered by system previously when taking out. After users submit new address, the smart contract would transfer capitals to new address and finish the “ Coin Shuffle” of assets. In this way, such transaction can’t be traced. That’s why most hackers select Tornado Cash.

Tornado Cash can enhance the anonymity and privacy of on-chain transaction through Coin Shuffle technology, but is also abused in money laundering, etc. Its Coin Shuffle technology increases the co-chain tracking difficulty of criminal assets. Now, Tornado Cash becomes the idiomatic money laundering approach of hackers. 80% hackers would transfer the stolen capitals to Tornado Cash for Coin Shuffle

immediately or within several days after success.

What are our achievements? Recent successful cases

Tornado Cash is flexible in privacy protection, but obviously, it can also be utilized by malicious person to escape sanctions. In one recent customer technology assistance, Beosin has successfully helped customers trace the assets after Coin Shuffle through Tornado Cash. So the capitals entering Tornado Cash can also be


Case I:

Certain FILcoin pledge node is attacked by hacker as suspected. Attacker transfers the unfrozen capitals to 11 safepal wallet addresses after amending the node address owner, then hacker transfers encrypted currency through Tornado Cash. Beosin security team traces the stolen capitals as per the data of such batch of safepal wallets provided by victim.

Case II:

After “rug pull” happens to a certain Ethereum project, Beosin team helps customers analyze capital flow through tracking tool, locks target address, assists customers in reporting to law-enforcing department, and issues the relevant report.

Currently, Beosin has helped over thousand customers get back their stolen currency, and its accumulative recovered assets approach to USD ten billion.

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