Bitfury, the full-service blockchain technology company, recently rolled out three important product updates in Version 2.2 of the Crystal analytics blockchain platform. These include improvements for the connections, tracking, and notifications features.
Upgraded Feature 1: Activity Notifications
Now users can be notified of changes for a balance and/or a Risk Score for a particular address. This is a critical addition for KYC/AML procedures — it helps users constantly monitor the Risk Score of counterparties and notifies once it reaches a certain level, helping to improve risk management.
Users also can more easily add a set of addresses that participated in a transaction to their visualizations. For example, if an exchange received payment, they may add all the inputs of the transaction in one click. If an investigator, they can add all outputs of a transaction to monitor their activity in the future (this is especially useful when monitoring stolen funds).
Upgraded Feature 2: Indirect Connections
The Crystal team has now upgraded the Connections feature when viewing addresses/entities. The previous version of the Crystal platform showed only the counterparties that interacted directly with the address/entity.
Now, it provides a diagram of all tracked address/entity interactions, and users may switch between Direct Connections and All Connections, which includes both direct and indirect relationships. The upgraded tool analyzes incoming and outgoing transactions and tracks them until the funds reach a known entity. So, if two entities interact via intermediate addresses with unknown owners, the interaction will still be included in “Indirect Connections.”
This upgraded feature is helpful when checking the origin of funds of a specific user during KYC or AML procedures. Using the Connections feature can significantly reduce this tracking time. It can also help users understand why an address/entity received its Risk Score.
The Crystal team says it will continue to optimize this feature, and will be expanding the number of tracked transactions and the length of the path to a known entity.
Upgraded Feature 3: Tracking (for Ethereum Transactions)
In Version 2.2, users can track the funds found in Ethereum transactions. Tracking is one of the most helpful features of the Crystal platform, especially when starting an investigation into cases of theft where the thief tries to confuse the chains of transfers of funds as much as possible.
See the results below of the tracking of funds from the transaction associated with the recent alleged DragonEx hack:
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