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BIG Blockchain Intelligence Group (OTC:BBKCF) launches community resource to counter fraudulent crypto uses

Tony Zerucha



Big Blockchain Intelligence Group (CSE: BIGG) (OTC:BBKCF), a developer and provider of cryptocurrency risk-scoring and data analytics tools, training and investigation services – has launched the Crypto Fusion Center (CFC) to serve as a community resource dedicated to fighting the criminal use of cryptocurrencies.

The CFC’s mission is to maintain and promote the legitimacy of cryptocurrencies while protecting the market as a whole by identifying and isolating criminal events as they occur. The CFC is a direct result of BIG’s greater mission of bringing cryptocurrencies mainstream through social responsibility, the company said in a release.

With the launch of the Crypto Fusion Center, BIG represents the most comprehensive suite of services in the cryptocurrency security space, from compliance to forensic data analytics, professional investigation services, training, and now community-wide awareness and protection regarding illicit cryptocurrency activities

The first and most high-profile hack of a cryptocurrency exchange, Mt. Gox, resulted in the loss of $473 million in cryptocurrency market value. Other significant instances of cryptocurrency theft include Coincheck, DAO, Bitfinex, and more recently, the QuadrigaCX scandal, where the founder, supposedly the only person with access to the Canadian exchange’s cold wallets, reportedly died unexpectedly, resulting in loss of access to $190 million worth of cryptocurrencies, though it is now questioned whether the exchange ever had cold wallets in place. All these instances have similarly exposed a major gap in the ability for law enforcement, the financial sector and regulators to respond in a timely and coordinated manner, which has undermined the market’s collective ability to track, isolate, and recover stolen funds.

With the launch of the CFC, entities in all sectors will be able to notify major participating exchanges, financial institutions, and law enforcement agencies in a timely manner when cryptocurrency thefts occur. The CFC will be the go-to resource for learning exactly which blacklisted addresses to be on the lookout for, which will facilitate preventing would-be hackers from using an unsuspecting exchange to liquidate their proceeds following a successful hack. In turn, the CFC aims to decrease the criminal element’s motivation to hack cryptocurrency exchanges by removing the ability to quickly liquidate their illicit proceeds through other exchanges. The community will be able to defend itself and others through cooperation, communication and collaboration.

“As a former supervisory special agent with Homeland Security Investigations, I know the effectiveness and reach that can be realized through coordinated effort toward the security and protection of law abiding individuals and entities,” BIG’s director of forensics and investigations Robert Whitaker said. “That’s why we are extending a standing invitation to cryptocurrency exchanges, law enforcement agencies, financial institutions, regulators, and any other entities to become members of the CFC community. If you want to protect yourself and your colleagues from preventable illicit activities involving cryptocurrency, we look forward to building this community with your support. Together we can stop these attacks before they start or, at the very least, mitigate their impact.”

The CFC offers several solutions:

  • A comprehensive point of contact database to include exchange compliance officers and International, federal, state and local law enforcement personnel using the CFC’s in-service communication manager, which will not reveal direct contact information;
  • An address alert feed via API that provides real-time blacklist updates for addresses from participating members.
  • Involvement of law enforcement at an early stage in cryptocurrency thefts and hacks.
  • Facilitating much-needed communication worldwide between law enforcement, exchanges, financial institutions and regulatory persons involved in the cryptocurrency space to freeze stolen funds.
  • Easy access to comprehensive tracing software and services offered by Big Blockchain Intelligence Group.

Entities interested in learning more about the Crypto Fusion Center, or considering participating in the community, can contact Mr. Whitaker by email at

In other news, BIG’s proprietary forensic cryptocurrency investigation platform, QLUETM, now provides supports for Ethereum (ETH), and the Company has launched a new website designed to communicate our services in a more cohesive manner and through a style that is unique to BIG’s updated branding.

The material is not to be construed as an offer or a recommendation to buy or sell a security. See full Terms of Service.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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