LONDON, June 10, 2021 / PRNewswire / – The Huobi Group, a global leader in blockchain and cryptocurrency infrastructure, last week announced the launch of its “Z-Labs,” a research division focused on defensive firewalls for cybersecurity, on-chain intelligence analysis and risk concentrated control. Composed of experts in security, risk control and compliance, Z-Labs aims to better identify and prevent crypto-crimes such as money laundering and fraud in the blockchain space.
Blockchain technology, represented by crypto-assets, has seen a wide range of uses in various industries in recent years due to its features, including some of the most important ones, including decentralization and immutability.
However, criminals have also started to engage in fraud, money laundering and online theft by taking advantage of the unique properties of the blockchain such as anonymity, multi-party and multi-asset platform, which can seriously compromise the safety of blockchain users and investors .
As one of the first companies in the world to research the blockchain space, Huobi began researching and applying on-chain tracking analytics back in 2018. In 2019, Huobi launched the Star Atlas on-chain tracking system.
Currently, the system has collected over 1 billion pieces of information on security intelligence, on-chain and event analytics. The number of identifiable addresses has exceeded 150 million, which helps users to quickly track and position assets on the blockchain. Under these addresses, more than 200,000 addresses have been tracked by Z-Labs and identified as malicious behavior such as anti-money laundering, fraud, coin shuffling, dark web and more.
Huobi founded Z-Labs to maintain the orderly operation of the blockchain network and to protect the interests of users. By combining Star Atlas’ State-of-the-art tracking system and Huobi’s vast experience in blockchain security will continue to provide Z-Labs with more professional technology, products and services to users.
“As a leader in the blockchain industry, Huobi is committed to building a friendlier and safer business environment,” said a spokesman for Z-Labs. “The lab will focus on the area of security technology traceability and the ability to resolve on-chain addresses. This would help develop a security management solution for all scenarios that is focused on multiple aspects such as security or business. “