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Huobi Global Launches Blockchain Analytics Tool ‘Star Atlas’ to Curb ‘Bad Actors’

▪ Huobi announced the launch of a new intelligence analytics tool that would help flag illegal transactions.
 ▪ They have now joined the ranks of other firms like Cyphertrace and Chainalysis who have also developed such tools.
 ▪ US agencies forked out over $10 million for access to such tools.

Reports have surfaced that Huobi has unveiled a new Blockchain analytics tool. Following an announcement on April 13th, Huobi’s new tool – Star Atlas – would aid in the process of cracking down on bad actors that have tarnished their name.

Notably, in the recently released crypto money laundering report by Chainalysis, they seem to indicate that Huobi was frequented by bad actors. These same entities accounted for nearly a quarter of the illegal $2.8 billion in Bitcoin transactions flowing through the exchange. Only Binance was ranked higher in the report.

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