Blockchain Security Blog
Hamas Cryptocurrency Donations Update | Seizures by Israel’s National Bureau for Counter Terror Financing (NBCTF)
CipherTrace Cryptocurrency Intelligence Update: 07/16/2021 On July 1, Israel’s National Bureau for Counter Terror Financing…
Second 12-Month Review of the Revised FATF Standards on Virtual Assets and Virtual Asset Service Providers
On July 5, 2021, the Financial Action Task Force (FATF) completed its second 12-month review…
FinCEN Issues First National AML/CFT Priorities: Crypto at Top of the List
On June 30, FinCEN issued its first ever list of priorities for anti-money laundering and…
Case Study: Hydra—Russia’s Largest Dark Market
Launched in 2015, Hydra is the most prominent Russian darknet market and likely the largest…
Virtual Asset Regulations: Outcomes of the FATF Plenary, 20-25 June 2021
On June 25, global anti-money laundering watchdog the Financial Action Task Force (FATF) completed a…
Best Practices for Reducing the Risk and Impact of Ransomware Attacks
In the wake of the Colonial Pipeline and JBS hacks, cybercrime and ransomware attacks continue…
Analysis of the TITAN Token Collapse: Iron.Finance Rugpull or DeFi Bank Run?
TL;DR: Iron.Finance depends on arbitrage as their stabilizing mechanism for partially collateralized tokens. In the…
Ransomware Seizure: Blockchain Analysis Helps US Authorities Seize Over $2 Million in DarkSide Ransom Paid by Colonial Pipeline
Colonial Pipeline Ransomware Recovery On June 7, 2021, the US Department of Justice announced that…
Crypto’s Access to Banking Services: Consensus 2021 Recap
Cryptocurrency is revolutionizing traditional finance. Bringing his expertise in cryptocurrency and blockchain security to the…
Sanctions Research: More than 72,000 unique Iranian IP addresses linked to more than 4.5 million unique Bitcoin addresses
The following is an excerpt from our Cryptocurrency Crime and Anti-Money Laundering Report. Since monitoring…
Blockchain Analytics—the Secret Weapon to Combatting Ransomware
CipherTrace provides critical cryptocurrency intelligence to the Ransomware Task Force to trace the criminal actors that perpetuate this threat.…
Crypto-Asset Exchange Threat Modeling
On April 13, 2021, the Cloud Security Alliance (CSA) Blockchain/Distributed Ledger Working Group released the…
SANCTIONS ALERT: Russian Crypto-Related Designations for US Election Interference
SANCTIONS UPDATE: On April 15, 2021, the US Department of the Treasury’s Office of Foreign…
Canada Updates KYC Identity Verification Guidance for VASPs
On March 23, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) updated its Know Your Customer (KYC) guidance…
Analysis: Proposed FATF Guidance for Virtual Assets and VASPs
On March 19, 2021, global anti-money laundering watchdog the Financial Action Task Force (FATF) released…
Who’s Laughing Now? Small Investors Pump Joke Token Dogecoin
The market volatility created last week as Redditors from r/wallstreetbets banded together to buy stock…
New US Administration Plans to Encourage Legitimate Use of Crypto, Curtail Criminal Use
During her confirmation hearing on January 19, Janet Yellen, President Joe Biden’s pick for Secretary of the…
$220M in Bitcoin May Be Encrypted Forever on IronKey
Stefan Thomas is two failed password attempts away from losing the private keys to $220…
What Exactly is a Virtual Asset Service Provider (VASP)?
Cryptocurrency, digital asset, convertible virtual currency… there seems to be an endless list of terms…
Infinite Minting Exploit Nets Attacker $4.4M
As DeFi protocols continue to heat up within the Ethereum ecosystem, CipherTrace is seeing more…
FinCEN Proposed Rule Change for Unhosted CVC Wallets
FinCEN Takes a Measured Approach to Money Laundering Risks Posed by Unhosted CVC Wallets On…
Only 22% of Bankers and Financial Investigators Feel Confident Detecting Crypto-Related Payments
In a December 9 CipherTrace-ACFCS Webinar on “How Cryptocurrency Intelligence Tipped the Scales in 2020…
ALERT: Malicious Crypto Browser Extension—Masked MetaMask
UPDATE: 12/03/2020 The MetaMask phisher continues to buy sponsored ads on MetaMask search results. The…
CipherTrace Feedback on Docket No. FINCEN-2020-0002 ; RIN 1506-AB41
November 25, 2020 Via Email to: [email protected] Re: FinCEN Docket Number FINCEN–2020– 0002; RIN number…
CipherTrace Files Two Monero Cryptocurrency Tracing Patents
November 20, 2020 CipherTrace has filed their second Monero tracing patent application— Techniques and Probabilistic…
FinCEN’s Proposed Rule Change for Travel Rule Threshold Would More Than Double Compliance Events at US VASPs
This blog is an excerpt from the upcoming CipherTrace 2020 Cryptocurrency Crime and Anti-Money Laundering…
Half of 2020 Crypto Hacks are from DeFi Protocols and Exchanges
This blog is an excerpt from the upcoming CipherTrace 2020 Cryptocurrency Crime and Anti-Money Laundering…
What to Do When You Fall Victim to a Crypto Scam
What investigators need so they can help recover your funds The rise of bitcoin doubler…
Nearly $1B from Silk Road Move for First Time Since 2015
UPDATE: According to a November 5 US Department of Justice complaint, the 69000+ BTC (and…
Record Number of Dark Markets Online as Demand for Illicit Goods and Services Continues to Grow
The criminal environment of darknet markets is extremely turbulent. Numerous darknet markets are launched every…
CFTC, DOJ Charge BitMEX Owners with Illegal Operations and Anti-Money Laundering Violations
On October 1, the US Department of Justice announced the indictment of four BitMEX executives, charging the group with violating the…
Crypto Red Flags for Law Enforcement—How to know if your investigation involves cryptocurrency
According to the US Department of Treasury, since 2013 there has been a consistent decrease…
FinCEN, OFAC Warn VASPs of Potential Sanctions Violations for Allowing Customers to Pay Ransomware
As the severity and sophistication of ransomware attacks continue to rise across various sectors around…
FinCEN Doubles Down on Banks’ Crypto Exposure
Taking center stage in a key-note address at the virtual 2020 ACAMS Las Vegas Conference,…
SANCTIONS ALERT: More Russian Crypto-Related Designations
SANCTIONS UPDATE: On September 16, 2020, two Russian nationals were added to OFAC’s SDN List…
FATF Releases Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing
On Monday, September 14, 2020, FATF released a report on Virtual Assets Red Flag Indicators.…
SANCTIONS ALERT: New Russian Crypto-Related Designations
SANCTIONS UPDATE: On September 10, 2020, four individuals were added to OFAC’s SDN List for…
Best Practices for Monitoring Virtual Currency-Related Transactions at Your Bank
Existing FinCEN regulations clearly state that it is the responsibility of all financial institutions to…
Tracing Ransomware: CipherTrace Helps McAfee Follow NetWalker Funds
On August 3, cybersecurity firm McAfee released new researching showing the activities of NetWalker—ransomware that has collected…
Twitter Hackers Arrested—Blockchain Analysis Traces the Bitcoin to Teenage Hackers
UPDATED 7/31 Three Charged for Role in Twitter Hack On July 31, three individuals were…
Twitter Hacked—Insiders Compromise Social Media Giant
On July 15, Twitter accounts for multiple high-profile cryptocurrency exchanges, public figures, and various entities…
Revised FATF Standards on Virtual Assets 12-Month Review
Jurisdictions Race to Implement Regulation Regimes for Virtual Asset Service Providers while Industry Develops Travel…
How Impending Virtual Asset Regulations Impact Banks—Even Those That Don’t Think They Do Crypto
As more mainstream consumer and institutional investors embrace cryptocurrencies, it becomes increasingly difficult, if not…
Simplifying Global Payment Compliance– TRISA’s Travel Rule Solution Welcomes Interoperability with PayID
Over the past year, Virtual Asset Service Providers (VASPs) have been scrambling to prepare for…
On Cryptocurrency Tracing Companies and Privacy on the Blockchain
I would like to address the issue of the privacy of cryptocurrency transactions, and the…
COVID-19 Update
As the COVID-19 pandemic evolves, CipherTrace is focused on the health of our employees and…
Analysis: How Chinese Nationals Linked to North Korea Laundered Hundreds of Millions of Dollars’ Worth of Stolen Cryptocurrency Through Several Banks and Cryptocurrency Exchanges
CipherTrace has previously reported on North Korea using cybercrime to avert economic sanctions and raise…
SANCTIONS ALERT: New DRPK Crypto-related Designations
SANCTIONS UPDATE: On March 2, 2020, the following two individuals and their associated digital currency…
OCC Hits New York Based Bank With First-Ever Enforcement Action for Lack of Crypto AML Compliance
On January 30, the Office of the Comptroller of the Currency (OCC) issued the first…
Fighting Human Trafficking by Following the Money
If you travel a lot – especially during January 2020, which was National Slavery and…
Crypto Comes of Age: Cryptocurrency Travel Rule Compliance Conference and Hackathon Recap
Some in the cryptocurrency community were caught off guard when the global financial watchdog, the…
ALERT: Tracing extorted bitcoin
CIPHERTRACE GLOBAL ALERT: New Phishing Attack Claims to Have Webcam Video of Victims Performing Embarrassing…
Could Cryptocurrency Analytics Tip the Balance in America’s War on Opioids?
At the core of a growing opioid crisis is the deadliest drug in the US—Fentanyl.…
CipherTrace Announces Travel Rule Information Sharing Architecture (TRISA)
Two key regulatory bodies recently rocked the foundation of the crypto economy with new…
SANCTIONS ALERT: Treasury Targets Chinese Drug Kingpins Fueling America’s Deadly Opioid Crisis
SANCTIONS UPDATE: On August 21, 2019, the following individuals and their associated digital currency addresses have…
Everything You Need to Know About NYSDF BitLicense
Since its inception in 2015, the New York State Department of Financial Services (NYSDFS) BitLicense has been…
Cryptocurrency Exchanges Grappling with New FATF Rule Requiring Disclosure of Customer Information
Governments have a new “travel rule” coming your way, and it has nothing to do…
Three Ways to Prevent Exchange Hacks
The recent hack of the world’s biggest cryptocurrency exchange, Binance, highlights the need for heightened…
Response to FATF Regarding Regulation and Monitoring of Virtual Asset Service Providers
In October 2018, the Financial Action Task Force (FATF) amended its Recommendation to clarify how…
CipherTrace Statement on Blockchain Analytics Privacy
In light of recent events regarding the acquisition of blockchain analytics company Neutrino, CipherTrace wants…
CipherTrace Analysis of Paymon, Iran’s Sanction Evading Crypto-Rial
This analysis by CipherTrace looks at Iran’s proposed Crypto-Rial sovereign virtual currency. We conclude that…
ALERT: Crypto Dusting is a New Type of Blockchain Spam that Corrodes Reputations and Impacts Cryptocurrency AML
People use mixers/tumblers as an attempt to preserve privacy when transacting with Bitcoin and other…
Criminal Bitcoin — How Deep is The Dark Side of the Most Widely Traded Cryptocurrency?
Bitcoin and blockchain technologies are sparking innovation in financial technology (FinTech), but they do have…
FinCEN Director Lauds Crypto Innovation While Citing Need to Reign in Bad Actors
Treasury working closely with the IRS for examination Some surprising facts regarding the state of…
CipherTrace Maltego Transform
CipherTrace Integration into Maltego Significantly Expands Bitcoin Forensics Capabilities Maltego is a popular security research…
ALERT: Spike in bitcoin extortion
CIPHERTRACE GLOBAL ALERT: Spike in Extortion Scams Demanding Bitcoin Payment Global Alert, August 3, 2018:…
Q2 Crypto AML Report Summary
Recently released research by CipherTrace has been making the news partly because of some surprising…
Trump Task Force to Fight Crypto Fraud
New Presidential Task Force Aims to Fight Cryptocurrency Fraud With the lure of big returns…
SEC Crypto Czar and CipherTrace CEO at SINET
CipherTrace CEO Leads SINET Panel that Includes New SEC ‘Crypto Czar’ On June 7, 2018,…
GDPR Threatens to Impair Cryptocurrency Crime Investigations
CipherTrace Cryptocurrency Threat Bulletin The European Union's new General Data Protection Regulation (GDPR) https://www.eugdpr.org), which…
Coinbase’s Response To New York AG’s Request
Coinbase’s Response To New York AG’s Request Reveals Shocking Cost of Compliance In April, New…
Japan Bitcoin Regulation Benefits
REINING IN THE WILD EAST Almost five years ago, an event in Japan rocked people’s…
Ledger Bitcoin Wallet Hacked by 15 Year Old Researcher
Ledger hardware wallets have been thoroughly compromised by a 15-year-old researcher, Rashid Saleem, using very…
First Presidential Cryptocurrency Order Blocks Venezuela’s Petro
Monday, March 19, 2018, President Trump issued the first presidential cryptocurrency order showing that this…
Crypto Innovation is a Cambrian Explosion
Applied Cryptography Innovation is a Cambrian Explosion that will Transform the Next 50 Years of…