CipherTrace in the News

Regulators no longer need to worry about lack of transparency in the crypto space thanks to breakthrough technology from CipherTrace. Self-described as the “world’s first blockchain forensics team”, CipherTrace is now also the world’s number one provider of cryptocurrency intelligence. Set up to develop cryptocurrency and blockchain tracing and security capabilities, the company yesterday announced that it had completed its most comprehensive digital asset tracing system to date.

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.

A new framework from blockchain security firm CipherTrace will enable cryptocurrency wallets, exchanges and other projects to comply with the Travel Rule from FATF – the Financial Action Task Force – without having to share private or personal information with one another.

Blockchain security firm CipherTrace has formally announced the release of its Travel Rule Information Sharing Architecture (TRISA); a new way for cryptocurrency businesses to satisfy regulatory pressure to enforce the travel rule, which requires financial institutions to share information of fund transfers.

Japanese cryptocurrency exchange BITpoint lost a grand total of $28 million in July this year. This figure is $4.5 million less than what was originally reported on the day of the theft on July 12.

Complying with regulators could mean the difference between going mainstream and remaining forever on the margins of the global financial system.

2019 is shaping up as the year of the “exit scam” according to a new study from CipherTrace, a cryptocurrency intelligence firm based in Silicon Valley.

Cryptocurrency scammers continued to swindle funds throughout Q2 2019, netting approximately $4.26 billion so far this year. According to CipherTrace latest report, insider thefts were by far the largest offenders, netting massive loses on investors and cryptocurrency exchange users. If things carry on the way they are, 2019 could go down in cryptocurrency history as the year of the exit scam.

Cyber criminals have netted $4.3 billion from digital currency exchanges, investors and users in 2019. Blockchain security company CipherTrace gave its summary crypto-related theft in its Anti-Money Laundering report that it shared with Cointelegraph on Aug. 12. According to CipherTrace, outright thefts, scams and other kinds of misappropriation of funds from digital currency holders and trading platforms resulted in around $4.3 billion in losses throughout 2019.

Say what you like about Mark Zuckerberg, but he certainly knows how to get attention. After six years of blank stares and regulatory shrugs, decentralization and privacy are now the talk of the town in Washington, and lawmakers are finally devoting their attention to what was once an obscure technological fad.

In wide-ranging interview with CipherTrace CMO John Jefferies, Ed Amoroso, CEO of TAG Cyber and former AT&T CISO, asks how to secure emerging exchanges, digital wallets, and related offerings.

A new partnership is creating an anonymous identity scheme to meet regulators and users in the middle when complying with KYC/AML regulations.

Dave Jevans discusses cryptocurrency robberies and losses from fraud with the BBC’s Louise Cooper. He also offers tips to users on how to safely trade and hold cryptocurrencies.

A new framework from blockchain security firm CipherTrace will enable cryptocurrency wallets, exchanges and other projects to comply with the Travel Rule from FATF – the Financial Action Task Force – without having to share private or personal information with one another.

The latest sign of Binance’s new focus came last week when the company announced it would hire CipherTrace, a California-based business that helps companies and law enforcement trace suspicious cryptocurrency movements.

Cryptocurrencies are still considered a risky investment for the more traditional investors, and only riskier as thefts on crypto exchanges continue to rise. According to security firm CipherTrace, more than $760 million in cryptocurrency was stolen from exchanges so far this year, easily outpacing 2017.

Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday.

Bad actors stole $1.7 billion worth of cryptocurrencies from investors last year, according to a new report from CipherTrace Cryptocurrency Intelligence published Tuesday. Of that total, roughly $1 billion was taken from exchanges.

CipherTrace is out with a report on cryptocurrency scams and fraud. It is widely known that crypto suffers from rampant acts of theft and cons as these digital assets have become the targets of global criminals seeking an easy payday or simply to launder illicit funds.

Crypto-related crime spiked massively last year, according to the latest report from AML firm CipherTrace. Digital crooks made off with some $1.7 billion worth of crypto assets in 2018.

Cryptocurrency Anti-Money Laundering and Financial Investigations

In the first nine months of 2018, theft from exchanges of cryptocurrencies through sophisticated hacking techniques has hit nearly $927 million, showing an increase of about 250 per cent compared to the level seen in 2017.

Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, up nearly 250 percent from the level seen in 2017.

New data shows criminals have laundered $2.5 billion worth dirty Bitcoin through cryptocurrency exchanges, and almost all of it ends up in countries with lax Anti-Money-Laundering (AML) regulations.

Last year, crypto exchanges recorded around $266 million in losses from security breaches and heists. The first half of 2018 recorded triple the amount stolen from crypto exchanges in 2017, triggering investors in the cryptocurrency space to develop concerns regarding the standard of security measures implemented by crypto trading platforms.

Using advanced analytic techniques and multiple data sources, CipherTrace aims to help financial services organizations detect and limit crypto-currency money laundering.

Cryptocurrency money laundering is increasing dramatically, being already three times greater than in 2017. And we’re only half way through the year, observes Dave Jevans, Founder and CEO of CipherTrace, and chairman of the Anti-Phishing Working Group

Bitcoin supporters argue cryptocurrency is not anonymous, that their transactions can be connected to the addresses at which they receive bitcoins. If those addresses are ever tied to their personal identity, their cryptocurrency movements can be fully visible.

The first half of 2018 saw more cryptocurrency theft than all of 2017 combined, driving a rise in digital money laundering as criminals elude authorities.

"So what we’re going to see is that not only the European market goes dark for all of us; so all the bad guys will flow to Europe because you can actually access the world from Europe and there’s no way you can get the data anymore.”

“GDPR will negatively impact the overall security of the internet and will also inadvertently aid cybercriminals. By restricting access to critical information, the new law will significantly hinder investigations into cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud and crypto-jacking.”

Washington Post “GDPR will negatively impact the overall security of the internet and will also inadvertently aid cybercriminals. By restricting access to critical information, the new law will significantly hinder investigations into cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud and crypto-jacking.”

Cryptocurrency has skyrocketed in value over the past year, so it shouldn't be too surprising that thieves want a piece of the pie.

Since the beginning of 2017, as bitcoin’s popularity and the emergence of more than 1,500 digital tokens have put the spotlight on the unregulated sector, according to APWG estimates