CipherTrace will monitor suspicious Cryptocurrency transactions in real time

Analyst firm CipherTrace has deployed a risk prediction system that alerts exchanges, investors, and investigators about suspicious cryptocurrency transactions in real time.

According to CipherTrace, the tool will assign a risk level based on the history of on-net transactions. Incoming cryptocurrency transactions with suspicious links, for example from countries under sanctions or fraudulent companies, will receive a “high risk” rating.

CipherTrace maintains that the system respects users’ privacy and does not process personally identifiable information. CipherTrace chief financial analyst John Jefferies said the system could alert exchanges of suspicious transactions related to the recent hacking of popular Twitter accounts.

CipherTrace customers can start using the tool from its launch on Tuesday July 21st. Jeffreys declined to reveal how large this customer base is, saying only that the company’s customers include Binance. Previously, CipherTrace announced 150 partners.

Blockchain analysts use risk ranking systems extensively to track money laundering, sanctions violators, and terrorist financing organizations. CipherTrace’s competitors Chainalysis and Elliptic have already implemented similar tools.

About author

Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
Related posts

PayPal Customers Are Now Allowed To Use Cryptocurrency To Make Payments To Merchants Worldwide


Bitcoin Recovers $56,000: ETH Recovers $1,700 (Observed Over The Weekend)


Vladimir Putin: "we need to stop illegal transactions with digital assets"


Coinbase exchange valued at $ 943 million in preparation for direct listing on Nasdaq

Sign up for our newsletter and stay informed

0 0 votes
Page Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x