Rajarshi Mitra
Independent Analyst
- The security experts gathered during the BlockShow Asia 2019 event.
- According to Crystal Blockchain Analytics CEO, there isn’t enough data to identify patterns of fraud.
During the BlockShow Asia 2019 event, security experts claimed that blacklists won’t be enough to stop scammers and fraudsters. According to them, creating a unified blacklist is not only difficult but completely useless as well.
The managing director at Chainalysis, Ulisse Dell’Orto, mentioned that there is a huge demand for a “high level of evaluation about how data is gathered.” Since most companies automate this process via simple algorithms, it becomes difficult to justify where data comes from without manually adjusting it.
Marina Khaustova, CEO at Crystal Blockchain Analytics, also noted that there is a huge limitation in creating a single blacklist. According to her, this isn’t a proactive process and there isn’t enough data to identify patterns of fraudulent behaviors.
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