{"id":436870,"date":"2020-09-01T12:22:36","date_gmt":"2020-09-01T12:22:36","guid":{"rendered":"https:\/\/wncen.com\/?p=436870"},"modified":"2020-09-01T12:22:36","modified_gmt":"2020-09-01T12:22:36","slug":"is-ciphertraces-monero-tracking-tool-as-effective-as-it-claims","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/monero-xmr\/is-ciphertraces-monero-tracking-tool-as-effective-as-it-claims\/","title":{"rendered":"Is CipherTrace’s Monero Tracking Tool as Effective as it Claims?"},"content":{"rendered":"

A spate of exchange delistings<\/a> has pushed privacy coins further to the fringes of cryptocurrency. The likes of Monero, Komodo, Bytecoin, and ZCoin have all felt the pinch of regulatory compliance in recent times.<\/p>\n

But things ramped up today as blockchain analytics firm CipherTrace publicized its new Monero tracking tool.<\/p>\n

In conjunction with the US Department of Homeland Security<\/a> (DoHS), who have long been watching the development of privacy coins, forensic tools to trace Monero transactions now exist.<\/p>\n

According to CipherTrace<\/a>, these tools allow search, exploration, and visualization of XMR transactions.<\/p>\n

On that, the CEO of CipherTrace, Dave Jevans, said the development was a culmination of a year’s work. What’s more, he declared the tracing tool a world’s first.<\/p>\n

“Our research and development team worked for a year on developing techniques for providing financial investigators with analysis tools. There is much work still to be done, but CipherTrace is proud to announce the world\u2019s first Monero tracing capability.”<\/p><\/blockquote>\n

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CipherTrace Announces World\u2019s First Monero Tracing Capabilities for Law Enforcement, Government, and Virtual Asset Service Providers https:\/\/t.co\/jcP1tfaKzK<\/a> #monero<\/a> #privacycoins<\/a> #blockchainanalytics<\/a><\/p>\n

— Ciphertrace, a Mastercard company (@ciphertrace) August 31, 2020<\/a><\/p><\/blockquote>\n