Ciphertrace

80% of Crypto Trade Volume Tracked by Blockchain Surveillance

<header class=”article__header”> </header> <strong>Ever since governments worldwide started showing adversity toward cryptocurrencies like bitcoin, a few startups have dedicated their business model to blockchain surveillance. Two weeks ago, Chainalysis revealed the company is monitoring 21 different tokens that stem from Ethereum. On Tuesday, the firm Ciphertrace announced that it’s now tracking 700 cryptocurrencies providing “visibility …

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CipherTrace Scout App Takes Crypto Investigations Mobile

Blockchain forensics firm CipherTrace has developed a mobile tool for flagging bitcoin and ethereum tokens with a criminal past. Announced today, CipherTrace Scout grants street-level investigators more freedom to identify, track and document illicit crypto transactions from the field, company representatives and law enforcement experts said. The software builds on a suite of investigatory tools …

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Exit Scams Swindled $3.1 Billion From Crypto Investors in 2019: Report

Cryptocurrency crime made good money last quarter, although slightly less than in the first quarter of 2019. According to an initial release of CipherTrace’s Q2 2019 Cryptocurrency Anti-Money Laundering Report, aggregate crypto losses reached $4.3 billion this year. Hacking thefts amounted to $125 million, adding to a 2019 total of $227 million. Excluding the QuadrigaCX …

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IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users

<header class=”article__header”> </header> <strong>A recently published U.S. Internal Revenue Service (IRS) slide describes alarming recommendations on how tax agents should deal with digital currency users who are not paying taxes. The slide recommends that agents question crypto users’ friends and family, comb through social media posts and issue subpoenas to make sure U.S. residents are …

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Rakuten Brings in Compliance Partner for New Crypto Exchange

Japanese e-commerce giant Rakuten, has partnered with blockchain analytics firm CipherTrace to help ensure compliance for its soon-to-go-live cryptocurrency exchange. CipherTrace announced Wednesday that it will help ensure sound anti-money laundering (AML) processes are in place for the firm’s Rakuten Wallet exchange platform, which is based in Tokyo. Rakuten Wallet started accepting account registrations last …

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Malta Teams With Crypto Security Firm to Manage Financial Crimes Risk

Malta is turning to crypto sleuthing startup CipherTrace for technical help addressing the risk of financial crimes in its licensed digital asset industry. The Malta Financial Services Authority (MFSA) announced March 11 that it would integrate CipherTrace’s Compliance Monitoring product to “protect consumers, investors and business partners.” The tool uses blockchain analytics and forensics to look …

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Malta Appoints Cybersecurity Firm Ciphertrace to Monitor Crypto Transactions

<strong>The Malta Financial Services Authority (MFSA) has appointed U.S. cybersecurity company Ciphertrace to help with compliance monitoring of crypto assets. Ciphertrace will be expected to keep track of transactions that pass through local crypto exchanges and digital wallets including ICOs, screening for potential money laundering and terrorism financing violations.</strong> Also read: Fidelity’s Cryptocurrency Arm Starts …

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