One of the leading explorers for the Ethereum blockchain network Etherscan has introduced a new feature called ETHProtect.
According to an official announcement, the ETHProtect mechanism is a detection system for Etherscan users to identify if incoming funds are tainted, and it traces the tainted funds "down to its origin."
Etherscan claims it receives every day reports on suspicious fraudulent activities that are reviewed and verified by its security research analysts. Once identified, these tainted addresses are then added into Etherescan's database, the announcement states.
"As addresses can be compromised under various circumstances, our internal taint inference analysis engine can modify parameters and identify tainted addresses for each unique scenario."
Demand for monitoring cryptocurrency-related operations began to grow exponentially over the last few months.
Previously Huobi Group launched the Star Atlas, an on-chain analytics tool to track illicit cryptocurrency transactions.
In addition to that, back in December 2019, the other cryptocurrency exchange Bitfinex integrated a solution from the analytical firm Chainalysis to combat money laundering.
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