Bitfury Hires Justice Department Veteran to Back its Bitcoin Crime-Fighter Tool ‘Crystal’
Bitfury, a blockchain services provider, has hired a veteran of the US Department of Justice as the President of the American push of its bitcoin blockchain crime-fighting product, ‘Crystal’.
The firm announced Friday that Michael DuBose will be joining the firm as the President of Crystal USA. He has worked with the US Department of Justice for 11 years and led the DoJ’s Computer Crime and Intellectual Property Section (2000-2011).
According to a statement made by the company, Michael DuBose will help the firm introduce its bitcoin blockchain tracking product to US law enforcement agencies as well as financial groups and other key audiences across the United States.
DuBose said that he is thrilled to join the company and play a key role leading the growth for Crystal in the US. He added that Crystal is a great tracking tool which makes it easier to track crimes on the blockchain, and thereby offers a vital service to all major financial institutions, law enforcement agencies and other key audiences across the nation.
Crystal, first unveiled in January this year, offers a way to financial institutions and law enforcement agencies to keep a track of all the transactions on the bitcoin blockchain. The software provides scores to transactions on bitcoin blockchain according to their risks, and flags movements that might be associated with illegal activities, to give an example.
According to a statement, the tool can help the authorities speed up their investigation on cases related to cryptocurrencies. Moreover, the firm claims that its tracking tool was able to find the culprit behind the WannaCry Ransomware Attack (May 2017) within three hours.
The company said in a presentation that if the authorities had had access to a proper tool to find the entity behind the attack, they could’ve prevented it from causing further global damage.