TRM Labs teams up with Magnet Forensics to combat crypto crime

Through this move, TRM Labs and Magnet Forensics aim to enable law enforcement and national security agencies to expose blockchain evidence from seized devices analysed in the latter’s reports. The two companies seek to merge their capabilities, integrating TRM Labs’ blockchain intelligence into Magnet Forensics’ digital investigation solutions.

The collaboration with Magnet Forensics comes almost a year after TRM Labs rolled out Behavioural Intelligence to optimise blockchain investigations through advanced transaction analysis and pattern recognition. Initially, the company introduced Signatures in 2020, a feature that identified patterns across groups of transactions on-chain, indicating an underlying suspicious behaviour that might otherwise have gone unnoticed. This solution set the foundation for Behavioural Intelligence, with the company integrating Transfer Labels into the service. Additionally, Behavioural Intelligence merged detailed transaction analysis with pattern recognition to offer a clearer view of blockchain activities.

Mitigating crypto crime

Magnet Forensics focuses its efforts on allowing law enforcement, government entities, and enterprises to investigate and analyse digital evidence across a range of devices. By teaming up with TRM Labs, the company is set to embed the capabilities of TRM’s BLOCKINT API into its digital forensics workflows, enabling agencies investigating criminal enterprises to track rising illicit activities on the blockchain. Additionally, agencies utilising Magnet Forensics to reveal blockchain evidence are set to be able to further improve their investigations with a TRM Forensics licence, allowing them to trace cryptocurrency transactions and mitigate illicit actions, such as fraud, money laundering, and cybercrime.

Furthermore, the collaboration scaled access to TRM Labs’ intelligence through Magnet Forensics’ integration of TRM’s BLOCKINT API, equipping investigators with deeper insights into digital forensics and blockchain-based financial systems. The partnership between Magnet Forensics and TRM Labs aims to solidify the two companies’ capabilities while also supporting their shared commitment to combatting cybercrime and financial fraud in the digital and decentralised landscape.