Huobi Group, a world-leading blockchain and cryptocurrency infrastructure provider, announced last week the launch of Z-Labs, a research division that focuses on cybersecurity defensive firewalls, on-chain intelligence analysis and risk control. Composed of experts in the fields of security, risk control and compliance, Z-Labs aims at better identifying and preventing crypto crimes that are conducted within the blockchain space such as Anti-Money Laundering and fraud.
Represented by crypto assets, blockchain technology has seen a wide range of applications in various industries in recent years due to its features in some primary ones including decentralization and immutability.
Criminals, however, have also begun to conduct fraud, money laundering and online theft by leveraging blockchain's unique characteristics such as anonymity, multi-party and multi-asset platforms, which can greatly endanger the security of blockchain users and investors.
As one of the first companies in the world to explore the blockchain field, Huobi started the research and application of on-chain tracking analysis as early as 2018. In 2019, Huobi launched the Star Atlas on-chain tracking system.
Currently, the system has accumulated over 1 billion data points on security intelligence, on-chain and event analysis. The number of identifiable addresses has exceeded 150 million, helping users to quickly track and position assets on the blockchain. Among these addresses, more than 200,000 addresses have been tracked and identified by Z-Labs as malicious behavior, such as the dark web, Anti-Money Laundering, fraud, coin shuffling and more.
Huobi established Z-Labs in order to maintain the orderly operation of the blockchain network and to protect the interests of users. By combining Star Atlas' cutting-edge tracking system and Huobi's long-standing experience in the blockchain security field, Z-Labs will continue to provide users with more professional technologies, products and services.
œAs a leading enterprise in the blockchain industry, Huobi is duty-bound in building a friendlier and safer industry environment, a spokesperson from Z-Labs said, adding, œThe lab will focus on the security technology traceability area and the ability to resolve on-chain addresses. This would help construct full-scenario solution-oriented security management in terms of multiple aspects such as security or business.
Source:-https://cointelegraph.com/press-releases/huobi-launches-z-labs-to-enhance-blockchain-security
