Blockchain Investigation Agency is a Department of the Swiss Security Solutions LLC with Head Office in Zürich, Switzerland.
ZüRICH ZH, SWITZERLAND, February 21, 2021 /EINPresswire.com/ — Blockchain Investigation Agency – New Global, International and Swiss Website for Blockchain Fraud and Bitcoin Fraud Case Processing. Before we go further lets explain why we need Blockchain Investigation Agency.
While many current cryptocurrencies provided pseudo-anonymous identifiers, several are now developing anonymization layers which hide both the sender the recipient and the cost of a transaction. This anonymization will make life increasing difficult in detecting and investigating a range of crimes. As we have public blockchains, the strive for anonymization in both the transaction and processing is a key element for protecting privacy and preserving consent. Monero is one currency which has taken a lead on this, and which uses ring signatures and stealth addresses. There is also a rise of anonymized processing, such as with zk-Snarks . These mechanisms now support the hiding from the core information of a transaction, but where it is possible to not double spend or spend more currency that has been allocated to a user.
In a traditional finance infrastructure, John trusts his bank (Bank A) and Julie trusts her bank (Bank B). A transfer of funds involves John finding out the identifier of Julie’s bank (such as their sort code) and for her account identifier. The transfer of funds then involves him informing his bank that he wants to transfer the funds to Julie. John’s bank then checks the transaction, and if it is valid, his account will be debited by the defined amount. His bank will then forward the transaction to Bank B, and where Julie’s bank will credit her account. In this way, both Bank A and Bank B have a ledger which can be checked for the transaction. This method works well in investigating crime, as each bank can report on Bob and Alice’s transactions, and also if they see any unusual transactions. Within the Bitcoin infrastructure, John and Julie each generate a private key and then derive an associated public key. This public key is then used to create a public identification address for transactions. When John now wants to send Julie some funds, he determines her public address and then creates a transaction to send her a number of bitcoins. This is then signed with his private key and then picked up by miners who will gather together all the other recent transactions, and create a consensus for the transactions to be added to a new block on the blockchain. Before this can happen, the transaction needs to be checked to see if John has enough bitcoins in his account to pay Julie. This checking is the reason that the transactions need to be public,…