CYBLE INC. (20240320677). SYSTEM AND METHOD TO INVESTIGATE THREAT ACTORS IN CRYPTOCURRENCY TRANSACTIONS simplified abstract
Contents
SYSTEM AND METHOD TO INVESTIGATE THREAT ACTORS IN CRYPTOCURRENCY TRANSACTIONS
Organization Name
Inventor(s)
Beenu Arora of CRAIGIEBURN (AU)
Amit Pundalikarao Lokhande of Haveri (IN)
SYSTEM AND METHOD TO INVESTIGATE THREAT ACTORS IN CRYPTOCURRENCY TRANSACTIONS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240320677 titled 'SYSTEM AND METHOD TO INVESTIGATE THREAT ACTORS IN CRYPTOCURRENCY TRANSACTIONS
The abstract describes a system and method for investigating threat actors in cryptocurrency transactions by correlating blockchain transactions with personally identifiable information and known threat actors.
- Receiving module acquires blockchain transactions, personally identifiable information, and data of known threat actors.
- Correlation engine maps blockchain transactions with personally identifiable information.
- Vision module displays graphical representations of blockchain transactions and known threat actors.
- Record module delivers user stories and checks for changes in personally identifiable information and blockchain transactions to identify potential threat actors.
Potential Applications: - Law enforcement agencies can use this system to track and identify criminal activities in cryptocurrency transactions. - Financial institutions can utilize this technology to enhance their anti-money laundering efforts and prevent fraud.
Problems Solved: - Helps in identifying potential threat actors involved in illicit activities using cryptocurrencies. - Enhances the ability to track and monitor suspicious transactions in the blockchain network.
Benefits: - Improved security and transparency in cryptocurrency transactions. - Enhanced regulatory compliance for financial institutions. - Efficient identification and mitigation of potential threats in the digital currency space.
Commercial Applications: Title: Enhanced Cryptocurrency Transaction Monitoring System This technology can be commercially applied by cybersecurity firms, financial institutions, and regulatory bodies to enhance their monitoring and investigative capabilities in the cryptocurrency space.
Prior Art: Readers can explore prior research on blockchain analytics tools and cryptocurrency transaction monitoring systems to understand the evolution of technologies in this field.
Frequently Updated Research: Stay updated on advancements in blockchain analytics, threat intelligence, and cryptocurrency transaction monitoring tools to leverage the latest innovations in the industry.
Questions about Cryptocurrency Transaction Monitoring: 1. How does this system improve the identification of potential threat actors in cryptocurrency transactions? - This system enhances the correlation of blockchain transactions with personally identifiable information and known threat actors to identify suspicious activities effectively.
2. What are the key benefits of using this technology for financial institutions and law enforcement agencies? - The technology offers improved security, regulatory compliance, and enhanced monitoring capabilities for tracking illicit activities in cryptocurrency transactions.
Original Abstract Submitted
a system and method to investigate threat actors in cryptocurrency transactions is provided. the system includes a receiving module to acquire a plurality of blockchain transactions, personally identifiable information from a plurality of data sources and data of one or more known threat actors with corresponding wallet addresses. the system includes a correlation engine to map the blockchain transactions with the personally identifiable information. further, the system includes a vision module to display one or more graphical representations depicting the plurality of blockchain transactions and the one or more known threat actors with the corresponding walled addresses. furthermore, the system includes a record module to deliver a plurality of user stories and check for a change in at least one of the personally identifiable information and blockchain transactions thereby identifying a potential threat actor.
