tl;dr
Blockchain intelligence firm Elliptic has joined the Internet Watch Foundation (IWF) to help combat the financing of child sexual abuse material (CSAM) via cryptocurrency. Through this partnership, Elliptic gains access to IWF’s virtual currency alerts, providing real-time data on crypto transaction...
Blockchain intelligence firm Elliptic has joined forces with the Internet Watch Foundation (IWF) to combat the financing of child sexual abuse material (CSAM) through cryptocurrency transactions. This collaboration grants Elliptic access to real-time virtual currency alerts from the IWF, enabling the firm to identify crypto transactions linked to CSAM, including the payment networks and wallet addresses involved.
Cryptocurrencies have emerged as the predominant payment method on commercial CSAM websites, with crypto payments having doubled almost annually since 2015. According to the IWF's data, over 60% of CSAM-related websites openly accept cryptocurrency payments. This growing trend underscores the urgency of combining blockchain intelligence with cybersecurity efforts to disrupt these illicit networks.
Privacy coins such as Monero are increasingly favored by CSAM vendors due to their enhanced anonymity features, which complicates efforts to trace illicit activity. However, Elliptic employs sophisticated, asset-agnostic tools designed to detect patterns and connections behind these anonymized transactions, supporting law enforcement and industry stakeholders in identifying and preventing criminal abuse.
Beyond data integration, Elliptic actively participates in strategic discussions and knowledge-sharing initiatives within the IWF’s global alliance. This collaborative approach emphasizes the critical role of the blockchain and cryptocurrency industry in tackling the exploitation of digital payment systems for CSAM distribution.
Looking ahead, the IWF aims to expand its membership within the blockchain and crypto sectors to further strengthen disruption efforts against the commercialization of CSAM. The partnership with Elliptic exemplifies a growing recognition that combining advanced analytics with real-time intelligence is vital for dismantling child exploitation networks funded through cryptocurrency.