Episode 44 of the Public Key podcast is here! In this episode, we talk with international terrorism consultant and founder and CEO of Cloudburst Technologies, Evan Kohlman. He dives deep into the dark web world of organized market manipulation groups and provides us intel on how they operate.
You can listen or subscribe now on Spotify, Applegold Audible. Keep reading for a full preview of episode 44.
Public Key Episode 44 preview: Crypto market manipulation being coordinated by dark web groups
Imagine millions of people on a dark web chat group waiting in anticipation to pump a token 500% on a targeted exchange, while unsuspecting investors, traders and regulators have no insights as to what is about to take place.
In this episode, Ian Andrews (Chief Marketing Officer, Chainalysis) is joined by former Flashpoint founder Evan Kohlman, who is now the Founder and CEO of Cloudburst Technologies, a company tasked with scraping the dark web to identify potential pump and dump schemes and the associated illicit actors.
Evan explains the nuances of these targeted attacks, who the orchestrators are, and the countries being targeted. He explains how his technology can gather KYC information and shed some light on the extent these schemes have on the total illicit activity in the industry.
Quote of the episode
“There is $120 billion of volume per year that’s being sucked out by online crypto pumps and dumps. We’re working with an academic team at the University College London, and they looked at 5 million deep and dark web messages that we had gathered. They looked at the data from it. They processed it. They look at the market pricing, the volume, and the change in pricing and volume. They concluded it’s $120 billion in volume per year. That is six times the money that is lost in ransomware.” – Evan Kohlmann (Founder, CEO, Cloudburst Technologies)
Minute-by-minute episode breakdown
- (2:27) – Understanding market manipulation in the crypto world and what Cloudburst Technologies is doing about it
- (4:35) – How to identify the illicit actors on dark web forums attempting to manipulate the markets
- (12:30) – How Evan got the name “The Terrorist Search Engine” and how he helped build up the leading dark web intelligence firm, Flashpoint
- (15:21) – How millions of people in dark web forums and Telegram are organizing themselves to pump certain tokens 50% up to 500%
- (20:49) – Applying Cloudburst technology to traditional commodity markets and large market cap tokens
- (28:00) – Are illicit actors targeting decentralized exchanges and protocols or just centralized exchanges
- (30:05) – How Cloudburst can identify KYC on illicit actors across the dark web using OSINT
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Speakers on today’s episode
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.