The new nature of cryptocurrency and blockchain transactions has been facing a difficult challenge from hackers around the world. The late introduction of the Crypto Fusion Center (CFC) community protection resource will soon be enhancing and indorse safe crypto transactions. Also, the arrangement is all prepared to decrease prohibited cryptocurrency related activities and guard the crypto marketplace against such illegal activities.
— Blockchain Intelligence Group (@blocksearch) February 19, 2019
The most public and grand hack in the cryptocurrency industry is the Mt. Gox hack that resulted in over the US $473 million loss in cryptocurrencies. Nevertheless, Coincheck made damage of more than the US $500 million prices of NEO, the not so famous DAO hack, and recently the QuadrigaCX scam also terrified the users as the owner expired with the password of cold wallet storage with the US $190 million worth of cryptocurrency inside. Such huge damages from cryptocurrency robbery are set to finish with the latest overview of the Cryptocurrency Fusion Center (CFC).
Blockchain Intelligence Group Inc. known as (“BIG”) is a foremost developer, and worker of crypto risk-scoring and pieces of information analytics tools, training and examination facilities proclaimed the presence of the CFC to aid path, separate and recuperate whipped cryptocurrency funds. The CFC organizations will see to ease universal message among law implementation, exchanges, commercial organizations, and controllers deliver simple entry to following software and speech danger slashes of dealings. The CFC will be a public reserve meant to remove all the blacklisted addresses and classify corruption before it happens and make users attentive so that the specialists can close the act down.
Additionally, the CFC communal source will be capable of halting the legalizing of the funds that are stolen via different crypto exchanges. With the introduction of the Crypto Fusion Center, BIG signifies the maximum complete set of facilities in the crypto safety space, from compliance to scientific data analytics, specialized study services, training, and now community-wide cognizance and guard concerning unlawful crypto activities.
Discussing on the newest product launch, BIG Director of Forensics and Investigation, Robert Whitaker stated that:
“If you want to protect yourself and your colleagues from preventable illicit activities involving cryptocurrency, we look forward to building this community with your support. Together we can stop these attacks before they start or, at the very least, mitigate their impact.”