A sampling based technique for eliminating duplicate data (de-duplication) stored on storage resources, is provided. According to the invention, when a new data set, e.g., a backup data stream, is received by a server, e.g., a storage system or virtual tape library (VTL) system implementing the invention, one or more anchors are identified within the new data set. The anchors are identified using a novel anchor detection circuitry in accordance with an illustrative embodiment of the present invention. Upon receipt of the new data set by, for example, a network adapter of a VTL system, the data set is transferred using direct memory access (DMA) operations to a memory associated with an anchor detection hardware card that is operatively interconnected with the storage system. The anchor detection hardware card may be implemented as, for example, a FPGA is to quickly identify anchors within the data set. As the anchor detection process is performed using a hardware assist, the load on a main processor of the system is reduced, thereby enabling line speed de-duplication.