Unfortunately, the criminal use of Bitcoin is growing across the world. One can then observe from Elliptic data that, amount of Bitcoin activity connected to purchasing child sexual abuse material online increases.
However, thanks to the new collaboration between Blockchain intelligence firm Elliptic and non-profit the Internet Watch Foundation (IWF), we expect the fight against Bitcoin’s role in online child sex abuse is on a powerful curve.
For those who are unfamiliar, IWF, which is dedicated to eliminating child sexual abuse content worldwide, has provided its database of Bitcoin addresses associated with child sexual abuse content to Elliptic. Elliptic will integrate this unique data set into its transaction monitoring and investigation products, and will automatically alert financial institutions and law enforcement clients to proceeds of this illicit content.
Elliptic works with the largest US and European Bitcoin exchanges and payment processors, and provides key evidence to federal agencies in the US and Europe for major investigations involving Bitcoin.