Chengdu ChainAnn Technology's Patent for Tracing Stolen Cryptocurrency on the Blockchain

Chengdu ChainAnn Technology's Patent for Tracing Stolen Cryptocurrency on the BlockchainOn December 26, 2024, the State Intellectual Property Office of China announced that Chengdu ChainAnn Technology Co., Ltd

Chengdu ChainAnn Technology's Patent for Tracing Stolen Cryptocurrency on the Blockchain

On December 26, 2024, the State Intellectual Property Office of China announced that Chengdu ChainAnn Technology Co., Ltd. had been granted a patent for "A Method for Tracing the Destination of Stolen Funds on the Blockchain Based on Blockchain Transaction Parsing," with publication number CN119180656A and application date of July 2024. This patent provides a novel technological approach for tracing and recovering stolen cryptocurrency, representing significant progress in combating increasingly sophisticated cybercrime.

This patent technology primarily addresses the challenge of tracing stolen cryptocurrency on the blockchain. With the widespread adoption of blockchain technology and the booming virtual currency market, cybercrime, including the theft of cryptocurrency, has become rampant. Traditional methods face numerous challenges in tracing stolen funds, such as the difficulty in efficiently processing massive transaction data, accurately identifying specific transactions related to stolen funds, and pinpointing relevant transactions within the complex blockchain network. Chengdu ChainAnn Technology's patent aims to solve these problems.

The patent abstract clearly outlines the specific steps of the method. First, the method acquires the first transaction data from blockchain full nodes and performs in-depth parsing. The purpose of the parsing is to obtain the behavioral characteristics and ultimate destination of each transaction. This step forms the foundation of the entire tracking process, providing crucial information for subsequent analysis.

After obtaining the transaction behavior and destination, the method further parses the first transaction data to obtain the node addresses involved in the transactions. This requires powerful data processing capabilities and complex algorithms to handle the vast and complex data structures within the blockchain network. Accurate identification of node addresses is a crucial step in tracing stolen funds, determining the accuracy and effectiveness of subsequent analysis.

Next, the method performs identity verification on these node addresses. This may involve analyzing the address's historical transaction records, relationships, and other relevant information. Accurate node identity verification effectively filters out irrelevant transaction information, thereby improving tracking efficiency and identifying suspected hacker addresses.

Once suspected hacker addresses are identified, the method labels their node level. The node level refers to the address's position and relationships within the entire blockchain transaction network, helping to understand the flow path of stolen funds. Labeling the node level allows investigators to better understand how the stolen funds were transferred and concealed.

Subsequently, the method parses the second transaction data following the suspected hacker address's receipt of the stolen funds. This data contains the trajectory of the stolen funds within the network. By parsing this data, the method ultimately determines the final destination address of the stolen funds.

Finally, based on the final destination address and node level information, the method generates a stolen funds map. This map visually displays the flow path of the stolen funds, providing clear clues for investigators. Based on this map, the current tracking results of the stolen funds can be obtained, providing strong support for recovering the stolen funds.

The core value of this patent technology lies in its efficiency and accuracy. It effectively addresses the inability to efficiently and accurately filter and analyze specific data related to stolen funds and the inability to accurately identify transactions related to stolen funds within a complex blockchain transaction network when dealing with large amounts of transaction data. This is of significant importance to law enforcement agencies and virtual currency trading platforms.

The successful development of this patent technology represents a major breakthrough for Chengdu ChainAnn Technology in the field of blockchain security. It not only enhances the ability to track stolen funds on the blockchain but also makes a significant contribution to ensuring the security and stability of the blockchain ecosystem. In the future, this technology is expected to be applied in more areas, providing more effective technological support for combating cybercrime. With continuous technological improvement and application promotion, this patent technology is expected to play an even greater role in maintaining blockchain security and protecting user assets. The emergence of this technology also reflects China's continuous innovation and development in blockchain security technology. Chengdu ChainAnn Technology's efforts have made a positive contribution to building a safer and more reliable blockchain ecosystem. It is expected that the practical application of this technology will further enhance blockchain security, increase user trust in blockchain technology, and promote the healthy development of blockchain technology. This will undoubtedly have a positive and far-reaching impact on the entire blockchain industry. In the future, we have reason to believe that similar technological innovations will continue to emerge, together building a safer, more reliable, and transparent blockchain world. Chengdu ChainAnn Technology's patent undoubtedly adds new impetus and hope to the realization of this goal. Its application prospects are broad, and it will inevitably bring revolutionary changes to the field of blockchain security. This technology will effectively help law enforcement agencies and relevant institutions better track and combat on-chain criminal activities, maintaining network security and social order.

In conclusion, Chengdu ChainAnn Technology's patented technology provides an effective solution to the problem of tracing funds in the blockchain field, and it has significant application value and significance in enhancing blockchain security and combating cybercrime. This marks another important advance in China's blockchain security technology, and its future development and application are highly anticipated.