Blockchain 

CipherTrace Urges Crypto Companies to Prepare for Anti-Money Laundering Compliance

For better or for worse, the cryptocurrency space is coming of age. Since Bitcoin’s rise to mainstream prominence in 2015, there has been increasing recognition of digital assets from government agencies around the world. In turn, new regulations are being imposed to control the way cryptocurrency companies operate and do business globally.  Most recently, the Financial Action Task Force issued new guidelines on how digital assets should be regulated. In order to raise awareness around these requirements, the blockchain security company CipherTrace hosted a conference and hackathon this week in…

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Ethereum 

FATF’s Regulations to Push Criminals to Privacy Coins: CipherTrace CEO

Financial Action Task Force’s (FATF) crypto regulations will trigger a shift of criminal activity from Bitcoin (BTC) to privacy coins, CipherTrace’s CEO says. Criminals mostly use BTC and ETH to date David Jevans, CEO of major crypto transaction tracking firm CipherTrace, has shared his remarks about criminal use of cryptocurrencies at a panel held by blockchain advocacy group, the Chamber of Digital Commerce on Oct. 21. During the panel, Jevans claimed that well-known cryptocurrencies such as Bitcoin and Ether (ETH) are currently the most popular among criminal actors to date…

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Blockchain 

CipherTrace Expands Monitoring Platform to 700 Tokens

United States-based blockchain security firm CipherTrace has expanded its crypto intelligence platform to 700 tokens. Tracing hundreds of ERC-20 tokens With the expanded platform launched on Oct. 15, CipherTrace now allows clients to trace more than 87% of the transactional volume of the top 100 cryptos such as Ether (ETH), Tether (USDT), Bitcoin Cash (BCH) and Litecoin (LTC), the firm said in a press release. CipherTrace’s increased monitoring support also includes the capability of tracing several hundred ERC-20 tokens, the company added. CipherTrace has not specified to Cointelegraph what cryptocurrencies…

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Cryptocurrency 

Crypto Criminals Take in $4.3 Billion in 2019, CipherTrace Reports

Cryptocurrency criminals have taken in an estimated $4.3 billion USD in 2019, according to CipherTrace. CipherTrace, a cryptosecurity company based in Silicon Valley, has released its Q2 2019 Cryptocurrency Anti-Money Laundering (AML) Report, which is a detailed overview of major cryptocurrency thefts, scams, and fraud around the world. The firm’s Q1 report estimated that cybercriminals illicitly obtained more than $1.2 billion USD in cryptocurrency during the first three months of the year alone. To put the severity of these figure in context, last year’s total figure for crypto theft was…

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Bitcoin 

Rakuten Wallet Partners With CipherTrace to Assure Safety of Its Upcoming Crypto Exchange

A subsidiary of Japanese e-commerce giant Rakuten, Rakuten Wallet, has partnered with blockchain security firm CipherTrace to assure Anti-Money Laundering (AML) compliance for the company’s upcoming crypto exchange. The development was announced in a press release shared with Cointelegraph on May 29. CipherTrace — which develops cryptocurrency AML, forensics and regulatory monitoring solutions — will work on improving the safety of Rakuten Wallet’s investors as well as the protection of the integrity and compliance of the exchange. Dave Jevans, CEO of CipherTrace, commented on the cooperation: “We have made significant…

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Bitcoin 

Binance Partners With Blockchain Analytics Company CipherTrace to Enhance AML

The world’s third-top cryptocurrency exchange by adjusted volume, Binance, announced that it has partnered with blockchain analytics company CipherTrace. The partnership was announced in a blog post published on April 11. Per the announcement, the partnership is meant to strengthen the company’s regulatory compliance by enhancing its Anti-Money Laundering (AML) measures. The post claims that CipherTrace also serves regulators, financial institutions and auditors. Cointelegraph reported in March that the Malta Financial Services Authority has appointed the company to monitor activity by crypto businesses in Malta. CEO of CipherTrace Dave Jevans is…

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Bitcoin 

Maltese Financial Regulator Appoints CipherTrace to Monitor Compliance in Crypto Firms

The Malta Financial Services Authority (MFSA) has appointed blockchain security firm CipherTrace to monitor activity by crypto businesses in Malta, local news agency The Times of Malta reports on March 11. CipherTrace is now set to be responsible for overseeing regulatory processes and audit risk management of virtual asset businesses licensed in Malta, CipherTrace CEO Joseph Cuschier explained. The United States-based blockchain security company will assist the MFSA in combating money laundering and financing terrorism risks associated with entities involved in crypto businesses. As previously reported, the MFSA envisions coordinating…

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Bitcoin 

Galaxy Digital Joins $15 Million Investment Round in Crypto Security Firm CipherTrace

Mike Novogratz’s crypto investment bank Galaxy Digital has invested in blockchain security company CipherTrace, according to an official press release published on Feb. 19. CipherTrace has reportedly raised $15 million in venture capital in a new funding round led by major Silicon Valley venture capital firm Aspect Ventures, whose partner, Mark Kraynak, will join the firm’s board of directors. The round also saw investments from Neotribe Ventures and WestWave Capital. California-based CipherTrace will use the secured funds in order to improve tools for cryptocurrency intelligence, anti-money laundering (AML) solutions, blockchain…

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