TechFlow news, June 21 — According to Decrypt, blockchain intelligence firm Elliptic has officially joined the Internet Watch Foundation (IWF), strengthening efforts to combat the use of cryptocurrency in funding child sexual abuse material (CSAM).
According to IWF’s 2024 Annual Data and Insights Report, cryptocurrency has become the most commonly offered payment method on websites hosting CSAM. Among 851 webpages that did not hide their payment options, 518 (60.87%) accepted cryptocurrency payments.
This collaboration will grant Elliptic access to multiple IWF services, including a real-time virtual currency alert system that provides data on cryptocurrency transactions linked to the purchase of CSAM, identifying associated payment networks and wallet addresses. By integrating these real-time alerts, Elliptic aims to help its clients block transactions related to child abuse.
