Coinbase Acquires Cryptocurrency Surveillance Company, Neutrino

Coinbase Acquires Cryptocurrency Surveillance Company, Neutrino


According to a recent report, Italy-based cryptocurrency surveillance company, Neutrino has been purchased by American cryptocurrency exchange, Coinbase. Neutrino develops blockchain Intelligence platforms for crypto businesses and law enforcement agencies.

Neutrino’s Team to Cross Over

Neutrino’s team of blockchain engineering and security experts are expected to join the crypto exchange’s workforce and Neutrino is expected to continue its operations as a separate entity based out of Coinbase’s London office.

The Engineering Director at Coinbase, Varun Srinivasan stated that: “Blockchain intelligence is increasingly important in the crypto ecosystem, and is necessary to achieve our mission of bringing the open financial system to the world,” he added that: “By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from people’s accounts, investigate ransomware attacks, and identify bad actors. It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations. Neutrino’stechnology is the best we’ve encountered in this space, and it will play an important role in legitimizing crypto, making it safer and more accessible for people all over the world.”

Neutrino was established in 2016 by a group of cybersecurity specialists who possessed more than 30 years of experience in the field of technology exploitation and intelligence gathering.

It provides a platform which was specifically built for startups that operate in the cryptocurrency ecosystem and it promises to enhance AML/KYC checks and procedures by creating customised red flags that involve checking the source of incoming funds, investigating suspicious spending behaviours and more.

Neutrino to Help With Law Enforcement

Also, Neutrino has built a platform specifically for law enforcement agencies which will help with criminal investigations and intelligence gathering. This platform makes it possible for investigators to trace the path of specific coins and their interactions with companies, mixers, and other services as well as to identify people buying and selling goods on darknet markets, amounts they spend, things they buy and from whom.

Currently, cryptocurrencies that can be analysed using this platform include BTC, ETH, BCH, USDT, and LTC, more virtual currencies will be added in the future.