Home Web3 Security An Introduction to CipherTrace and its Conjunction with MasterCard

An Introduction to CipherTrace and its Conjunction with MasterCard

by ImmuneBytes
An Introduction to CipherTrace and its Conjunction with MasterCard

Blockchain has truly been a revolutionizing technology for the world. However, with the infinite possibilities of the said technology, it can also prove to be astonishingly dangerous. Virtual currencies such as Bitcoin are processing billions of dollars per year of criminal transactions. Despite the many legitimate uses for virtual currencies, criminals are increasingly capitalizing on the decentralization afforded by exchanges that leverage blockchain platforms.

Anonymity, coupled with the ability to transfer funds rapidly and irreversibly, drives financially motivated criminal activity including money laundering, terrorist financing, ransomware, extortion, human and drug trafficking, illicit websites, and dark marketplaces. 

So, what do we do? Do we stop using Blockchain altogether? 

Of course not; CipherTrace provides the solution to help agents and analysts recognize, investigate, analyze, de-anonymize, and trace criminal activity using virtual currencies on the Internet.

In today’s blog, we’ll explore CipherTrace and learn about its areas of use and features. Keep reading to know more!

What is CipherTrace?

CipherTrace delivers cryptocurrency AML compliance solutions for some of the largest banks, exchanges, and other financial institutions in the world because of its best-in-class data attribution, analytics, proprietary clustering algorithms, and coverage of 2,000+ cryptocurrency entities?more than any other blockchain analytics company.

CipherTrace goes by the mission of:

  • Protecting financial institutions from virtual asset laundering risks and crypto-related threats.
  • Growing the blockchain economy by making it safe for users and trusted by the government.

The company was founded in 2015 by Dave Jevans, also the CEO. The leadership team also has deep expertise in cybersecurity, payment systems, and Bitcoin mining, and were early participants in the Bitcoin community.

Features of CipherTrace

CipherTrace’s innovative platform has helped customers enhance their security and fraud monitoring activities for crypto-related programs.

Let’s take a look at the plethora of features it holds: 

  • Enables forensic analysis of cryptographic currency transactions.
  • Provides a case management capability to cross-link investigations into a single case for correlation and reduction in time and resources.
  • Detects cryptographic currency laundering services.
  • Assists in the de-anonymization of cryptocurrency transactions.
  • Provides attribution of transactions and identifies currency exchanges that can be subjected to subpoena.
  • Develops regulations and compliance programs.

Areas of Application Offered


CipherTrace provides Bitcoin and blockchain analysis, security, forensics, and investigation tools for law enforcement, intelligence collection and analysis, and financial services to investigate addresses, transactions, and currency flows. These capabilities enable law enforcement agents and intelligence analysts to get their jobs done faster and more accurately.

Evidence & Investigations

CipherTrace works with law enforcement and the U. S. Intelligence Community to provide evidence, actionable leads, and expert witness services in Bitcoin and other cryptocurrency investigations. CipherTrace’s solution can be leveraged during counterintelligence investigations to track the clandestine movement of money by hostile foreign intelligence services.

Research & Development

It provides research and development services for the U.S. and foreign governments,  law enforcement, and the financial services industry. CipherTrace works side by side with some of the world’s leading laboratories to co-develop machine learning, blockchain security technologies, and related capabilities.

CipherTrace Joins the MasterCard Family!

In recent headlines, MasterCard has acquired CipherTrace to enhance its crypto capabilities. This amalgamation will instill the same trust and peace of mind that consumers currently experience with more traditional payment methods. 

The integrated offering will build on CipherTrace’s suite of digital assets and Mastercard’s cyber security solutions to provide businesses with greater transparency to help identify and understand their risks and to help manage their digital asset regulatory and compliance obligations.

The deal enables Mastercard to combine the technology AI and cyber capabilities of both companies to differentiate its card and real-time payments infrastructure, allowing customers and stakeholders globally to build upon and benefit from the solutions to protect their consumers and comply with regulations, as they build their own virtual asset offerings. 

Concluding Thoughts 

To get the world on board with the current scenarios on increasing virtual currency usage, companies need to come up with innovative ideas like these two. Security is one of the foremost aspects when it comes to finances and building a foolproof wall of trust with your customers is a matter of a great deal.

This conjunction of the two financial giants, one with the utmost trust from people and the other offering high security is what will drive people to switch from more traditional methods of payment to digital and cryptocurrencies.

We see a great deal of potential in this conjunction and are sure that it will drive the decentralization movement further. Also, this will prove to be a learning step for other financial institutions to come up with measures and amalgamations like these!

About Us 

ImmuneBytes is facilitating blockchain security by employing the use of cutting-edge techniques on smart contracts and decentralized applications. We have a team of experienced security professionals who are adept at their niches and provide you with innovative solutions and consultation. So far we have worked on 175+ blockchain start-ups on different blockchain frameworks, with clients spread across the globe, and are continually unfolding ourselves to make this decentralized movement thrive.

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