CipherTrace Now World’s Most Comprehensive Cryptocurrency Tracer
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CipherTrace, the world’s leading cryptocurrency intelligence and Blockchain security provider, has announced the sector's most comprehensive digital assets trading capability. Today the platform launched an expanded cryptocurrency intelligence platform inclusive of Bitcoin (BTC). Now CipherTrace clients can trace over 700 digital tokens.
Moreover, the platform now provides intelligence to a volume of more than 87% of the top 100 cryptocurrencies. Currencies include Ethereum (ETH), Tether, Bitcoin Cash (BCH), and Litecoin (LTC). However, the firm has not confirmed the unsupported currencies.
Additionally, CipherTrace further increased intelligence support which includes the capability to trace several hundred ERC20 tokens. Expanded capabilities include the new CipherTrace Cryptocurrency Intelligence platform. They are available to end-users immediately via CipherTrace API for automated monitoring.
According to said Shannon Holland, CipherTrace CTO:
“We can now discern and automatically verify previously unfathomable amounts of blockchain data and characterize it with a high level of confidence. We will continue to add more tokens, Stablecoins, and Blockchains in the coming months.”
In addition, Pamela Clegg, head of financial investigations at CipherTrace said:
“Bitcoin takes center stage in financial crime investigations [...] still, billions of dollars move through alt-coins daily. To close cryptocurrency money laundering gaps, we must expose more of the true number of illicit transactions that occur across the entire ecosystem. This platform expansion does just that by providing regulators, exchanges, and investors’ visibility into more than 87 percent of the virtual asset market trading volume.”
Furthermore, the new advanced platform alerting features. These features deliver notifications of transactions and changes to address risk ratings. The watch list addresses are monitored constantly.
Bottom Line
In conclusion, CipherTrace was appointed by the Malta Financial Services Authority (MFSA) to monitor cryptocurrency businesses’ activity in Malta and help combat money laundering and financing terrorism risks.