The following is an excerpt from our Cryptocurrency Crime and Anti-Money Laundering Report. Since monitoring sanctions-related IP usage across the Bitcoin blockchain, CipherTrace has detected more than 72,000 unique Iranian IP addresses linked to more than 4.5 million unique Bitcoin…
On April 13, 2021, the Cloud Security Alliance (CSA) Blockchain/Distributed Ledger Working Group released the Crypto-Asset Exchange Security Guidelines—a set of guidelines and best practices for crypto-asset exchange (CaE) security. The set of guidelines were created to help educate users,…
November 20, 2020 CipherTrace has filed their second Monero tracing patent application— Techniques and Probabilistic Methods for Tracing Monero. This follows on their first patent application Systems and Methods for Investigating Monero. These patents cover: Forensic tools to explore Monero…
This blog is an excerpt from the upcoming CipherTrace 2020 Cryptocurrency Crime and Anti-Money Laundering Report In first half of 2020 DeFi took up 45% of all thefts and hacks ($51.5M or 40% of hacked volume). In second half of…
On October 1, the US Department of Justice announced the indictment of four BitMEX executives, charging the group with violating the Bank Secrecy Act (BSA), and conspiring to violate the BSA by "willfully failing to establish, implement, and maintain an adequate anti-money laundering (“AML”) program." On the…
Taking center stage in a key-note address at the virtual 2020 ACAMS Las Vegas Conference, FinCEN Director Kenneth A. Blanco clarified a long-standing confusion banks have had regarding their exposure to cryptocurrencies and the steps they must take the mitigate…
I would like to address the issue of the privacy of cryptocurrency transactions, and the role of cryptocurrency tracing companies in helping the world of crypto become safer, more widespread, and more legitimate, while still preserving the privacy of individuals.…
As the COVID-19 pandemic evolves, CipherTrace is focused on the health of our employees and our customers. We are following guidelines issued by the CDC, WHO, and public health officials. We now hold customer meetings online using Zoom, and are…
Governments have a new “travel rule” coming your way, and it has nothing to do with what you can put in your carry-on. In guidance released on June 21, 2019, the Financial Action Task Force (FATF) updated its recommendation regarding…
The recent hack of the world’s biggest cryptocurrency exchange, Binance, highlights the need for heightened security in the crypto space. In what Wired reported as “a ‘large-scale security breach,’ hackers stole not only 7,000 bitcoin—equivalent to over $40 million ($56…