Service from CipherTrace monitors suspicious activity for 700 crypto assets

The analytical service CipherTrace began to track suspicious transactions for more than 700 crypto assets, CoinDesk reports.

The updated platform now supports 87 of the top 100 assets, as well as ERC-20 standard tokens. The CipherTrace solution allows you to view the complete transaction history for each of the digital currencies available for tracking and set alerts for addresses marked as suspicious.

The company sells its product to government organizations and law enforcement agencies, as well as companies seeking to comply with increasingly stringent regulations.

“By only helping virtual asset services free networks from criminals and terrorists, can the industry achieve a level of trust that is sufficient for massive adoption ,” said CipherTrace CEO Dave Jevans.

Also, he said, previously many large sections of the cryptocurrency ecosystem remained opaque, which made it difficult to combat money laundering and the financing of terrorism.

Recall that in September CipherTrace launched the Scout application , which allows determining whether certain coins in the Bitcoin and Ethereum blockchains are connected with criminal activity.

In particular, the application identifies coins that could be used in illegal activities, including darknet purchases and ransomware attacks requiring ransom in cryptocurrencies.

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