A successful police workshop on virtual asset cases involving Guangdong, Hong Kong, and Macau was held, during which Eucochain and the police forces of the three areas discussed strategies for blockchain security governance.
With the rapid development of blockchain technology, concepts such as DeFi, metaverse, and blockchain games have become popular, and related illegal activities are also on the rise. According to data, the global blockchain crime amount reached a record high of $20.6 billion in 2022. In response to this severe situation, the "Guangdong-Hong Kong-Macao Greater Bay Area Virtual Asset Case Police Seminar," organized by the Hong Kong Police Force Cyber Security and Technology Crime Bureau, with the participation of the Macao Judiciary Police and Guangdong Police, and supported by the Research Institute of Financial Technology Rule of Law of China University of Political Science and Law, and undertaken by Okex Holdings Limited (1499.HK), was successfully held in Shenzhen on July 7, 2023. This seminar brought together nearly 50 law enforcement officers from the Greater Bay Area and security experts from Okex to discuss and exchange in-depth topics such as tracking techniques for virtual asset transactions, anti-money laundering and fund flow on the blockchain, combating smart contract crimes, international cooperation, and information sharing.
Technology as the Stage, Security as the Performance: Okex Collaborates with the Police Forces from Guangdong, Hong Kong, and Macao to Discuss Blockchain Security
In the morning session of the seminar, representatives from the police forces of Guangdong, Hong Kong, and Macao delivered keynote speeches on virtual asset cases. Among them, the representative from the Hong Kong Police Force shared "Virtual Asset-related Crimes, Enforcement Strategies, and Case Studies," the representative from the Macao Police Force shared "Exploration of Cryptocurrency Cases," and the representative from the Guangdong Police Force shared "Experience Sharing on Criminal Police Work Involving Virtual Currencies." These presentations provided valuable reference and inspiration for law enforcement officers from other regions based on practical experience. At the same time, the presentations also addressed some of the current problems and challenges faced in investigating virtual asset cases, such as how to apply for evidence from virtual asset platforms and how to effectively trace virtual assets. The discussions and answers to these questions contribute to improving the investigation capabilities and skills of law enforcement officers.
In response to the issues and challenges raised by law enforcement officers, Okex security expert Chen Ruixue provided effective solutions in the keynote speech "From Clue Discovery to Prosecution Process: A Comprehensive Analysis of Virtual Currency Cases Using On-chain Investigation Techniques." Chen Ruixue explained in a clear and concise manner the whole process of investigating virtual asset cases, including clue discovery, case assessment, operation coordination, and prosecution focus, by utilizing the on-chain investigation capabilities. Detailed answers were provided for each stage, including how to apply for evidence from virtual asset trading platforms and considerations for operation coordination. Through listening to the speech and interactive questioning, participants gained a deeper understanding of the important role played by new blockchain analysis tools such as On-chain Investigation Techniques in combating virtual asset crimes.
In addition, another security expert from Okex, Chen Siyang, shared a presentation titled "Practical Insights into Smart Contract Cases," which provided a detailed overview of smart contracts, attacks and defense strategies, case analysis, as well as phishing website attacks and defense strategies.
In the final session of this case study seminar, the organizer led guests from various parties to discuss topics such as virtual asset classification, legal status, transaction tracking technology, money laundering and fund flows, international cooperation and information sharing, digital forensics, and technical challenges. This further deepened the understanding of virtual currency crimes and enhanced the ability of law enforcement officers to combat and prevent virtual currency crimes. It also provided a useful platform for cooperation and understanding among law enforcement agencies in the Guangdong-Hong Kong-Macao Greater Bay Area.
Innovating for Development: Oke Cloud Chain Upgrades its Blockchain Security
As one of the earliest blockchain technology companies established in China, Oke Cloud Chain has always focused on technology and innovation for development. In the field of big data and blockchain security technology, Oke Cloud Chain has achieved a leading global advantage. It has the largest number of address labels globally (3 billion+) and the most comprehensive collection of black and gray address labels (27 million+). The address label library can be updated and expanded in a timely manner based on market developments to meet the latest demands of users. In addition, Oke Cloud Chain's team has a wealth of senior blockchain technical personnel, including expertise in blockchain full node data parsing, block structuring, big data analysis, machine learning, public chains and cryptography, and senior development in blockchain application layers.
Relying on its leading advantage in big data and blockchain technology, Oke Cloud Chain has independently developed a series of integrated solutions for on-chain security. These include the "Blockchain Explorer," a one-stop data analysis platform for Web 3, the on-chain anti-money laundering solution "On-chain AML," and the "Chaintelligence" platform that assists in regulatory work. Among them, Chaintelligence acts as a trump card in combating virtual asset cases. Since its launch two years ago, it has assisted public security agencies across the country in successfully investigating hundreds of virtual asset-related criminal cases and has accumulated extensive experience in on-chain data security. In just 2022 alone, the Chaintelligence product has assisted the police in solving more than a hundred cases, recovering billions of dollars in funds involved and participating in more than 40 major cases. These achievements have been widely recognized and praised by all sectors of society, demonstrating Oke Cloud Chain's strong technical strength and rich experience in blockchain security.
In addition, in order to cope with new regulatory policies and the need for market compliance, Ouke Cloud Chain has also launched a new service - On-chain AML (Anti-Money Laundering) integrated solution. On-chain AML demonstrates Ouke Cloud Chain's technical strength in on-chain data field, as well as its layout and determination to empower the virtual asset industry for compliance development with technology. As the virtual asset market in Hong Kong gradually opens up, virtual asset trading platforms will also face stricter regulatory and compliance requirements, with anti-money laundering capability becoming a focus. On-chain AML includes KYT, KYA, data indicators, and security audits, which can help virtual asset service providers with compliance and risk prevention, as well as utilize blockchain security technology to combat virtual asset crimes, improving the compliance and security of the entire industry.
As Zhang Qianru, the Business Director of Ouke Cloud Chain, stated at the seminar for this case: "Ouke Cloud Chain has been committed to becoming a global leader in blockchain security technology. With the rapid development of the virtual asset industry and the compliance of the virtual asset industry in Hong Kong, Ouke Cloud Chain will participate more deeply in the security governance of the virtual asset industry, work together with all parties, empower the industry's healthy development with technology, and safeguard on-chain security."
