Despite the cozy relationship between law enforcement and Chainalysis, 'we still live in a democracy in which criminal convictions prerequisite the existence of scientific evidence,' L0laL33tz writes. Opinion.
Chainalysis' head of investigations doesn't seem to have a great understanding of whether her company's flagship software even works.
Elizabeth Bisbee, head of investigations at Chainalysis Government Solutions, testified she was “unaware” of scientific evidence for the accuracy of Chainalysis’ Reactor software used by law enforcement, an unreleased transcript of a June 23 hearing shared with CoinDesk shows.. You can reach her at the end of surveillance capitalism, P.O. Box 77, C72B 398B 7C04 8F04.
The fact that Chainalysis’ blockchain demystification tools have become so widespread is a serious threat to the crypto ecosystem. Although industry insiders have raged against Chainalysis since it was founded, often accusing it of violating people’s financial privacy, there may be a better argument to make against the company and analysis firms like it: it’s within the realm of possibility that these “probabilistic” machines don’t work as well as advertised.
This is a big deal considering Chainalysis' surveillance tools are used widely across the industry for compliance, and have at times led unjustified account restrictions and – in even worse – land unsuspecting individuals on the radar of law enforcement agencies without probable cause.is making in his latest defense of an accused early bitcoin adopter, and why he was quizzing a Chainalysis executive on the stand.
Bisbee was testifying in a case between the U.S. government and Roman Sterlingov, the alleged creator of the once popular Bitcoin Fog cryptocurrency mixer used to anonymize bitcoin transactions. Chainalysis’ Reactor software was used to track cryptocurrency payments in Sterlingov’s criminal investigation, and is now being challenged by Sterlingov’s defense.
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