Etherscan Launches ETHProtect Tool to Test Crypto Assets “Clean”

Crypto News | Cryptocurrencies

Ethereum blockchain browser Etherscan has launched the Every Transaction Hash Protect (ETHProtect) tool to track illegal transactions.

Using ETHProtect, users will be able to check the history of incoming coins and tokens and their origin, including transactions based on the results of a hacker attack, phishing, or other illegal actions. Bad addresses will be blacklisted.

Having stumbled upon such an address, the user will see a warning in the form of a red icon. By clicking on the red mark, the user will be able to track complete information about asset movements before their reputation becomes dirty, see the hash of the suspicious transaction and the address to which the tokens were then transferred, as well as data on further movements of assets with a corrupted history.

The developers explained that Etherscan daily receives messages from users about suspicious and fraudulent activities. This information is studied by analysts, and if the address is really with a bad reputation, it is entered into the database. A white list is provided for exchanges and custodial services that did not participate in illegal activities, but can receive cryptocurrency obtained illegally.

“Having begun to figure out how to effectively track dirty addresses in real time, we realized that there is no universal solution to this problem, it is an eternal game of cat and mouse. However, information on suspicious addresses and transactions can be made publicly available in order to get the black money out of circulation, ”Etherscan developers said.

The Taint Inference Analysis Engine with machine learning will be used to track suspicious activity. Tracking parameters will be constantly improved based on each scenario.