CipherTrace recently announced it had expanded its cryptocurrency intelligence platform. The company’s enhanced platform boasts of having the most extensive digital asset tracing power.
Known as the world’s premier provider of crypto intelligence and blockchain security, CipherTrace can now provide its clients access to over 87% of the top cryptocurrencies’ transactional volume.
The new and improved platform integrates the company’s proprietary algorithm, advanced clustering, tradecraft, and digital enrichment. The combination offers users unparalleled resolution and traceability to blockchain information that they weren’t privy to before.
What’s more, CipherTrace boasts of having around 522 million attribution information points on crypto addresses. Some of these points include account holders, account type, contract owners, type of contract, and various metadata.
Expansion for Tracing Assets
Thanks to the expansion, users can now trace digital assets like Bitcoin, (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and Tether (USDT). CipherTrace’s improved monitoring support can also track hundreds of ERC-20 tokens.
CipherTrace end users can now make use of the expanded tracing powers in the company’s latest Cryptocurrency Intelligence platform. Clients will be able to access it for automated monitoring through the CipherTrace API. With it, users will have the capability to explore full BCH, ETH, LTC, USDT, and ERC-20 addresses and monitor critical details on exchanges, smart contracts, transactions, and wallets.
Financial auditors can also utilize it to trace BCH, ETH, and LTC addresses forwards and back in their transaction history.
Pamela Clegg on the Topic
Pamela Clegg, CipherTrace’s Chief of Financial Investigations, explained how bitcoin is often in the center of financial crime investigations because of how easy it is to obtain. Its transaction volumes are also the largest. She also said that the actual number of illegal transactions that happen throughout the whole ecosystem should be revealed. It will help close any loopholes used in crypto money laundering.
Clegg claims the CipherTrace’s expanded platform can do the job. It provides crypto exchanges, investors, and regulators increased visibility in 87% of the digital asset market’s trading volume.
CipherTrace’s expanded platform system also has a new alert feature that notifies users of transactions and any revisions to address risk ratings. Addresses on a watchlist are continuously monitored, with alerts sent each time a pinged address receives or sends payments.
Adding tracking support for ERC-20 tokens is another feature that users will undoubtedly find useful. It lets clients scrutinize transactions of interest or explore and research smart contracts. The streamlined design means users can click on the contract icon, and smart contract details are highlighted immediately.