Fortune

Bitcoin

Monero

Read

Force

Mastercard’s blockchain forensic firm CipherTrace has reportedly halted some of its key services amid concerns over data reliability. 
<a href="https://crypto.news/tag/ciphertrace/" target="_blank" rel="noreferrer noopener">CipherTrace</a>, a blockchain analytics firm acquired by <a href="https://crypto.news/tag/mastercard/" target="_blank" rel="noreferrer noopener">Mastercard</a> in 2021, appears to be discontinuing some of its key services, Fortune <a href="https://fortune.com/crypto/2024/03/13/mastercard-ciphertrace-blockchain-analytics-chainalysis-bitcoin-fog/" target="_blank" rel="noreferrer noopener">has learned</a>, citing sources familiar with the matter. While the exact reason behind the move remains unclear, the California-based blockchain firm appears to have suspended the following services: 
<ul> 
 <li>Armada, a tool that helps banks, payment providers, and regulators uncover virtual currency-related transactions for use in risk and fraud models by mapping legal names and account numbers to exchanges.</li> 
 <li>Inspector, a repository of attribution data ties crypto-addresses to real-world organizations, sanctioned entities, IP addresses, and events.</li> 
 <li>Sentry, a tool designed to track in real-time “know your transaction” (KYT) for compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.</li> 
</ul> 
The report highlights that this recent development follows Mastercard’s decision to retract the expert testimony of Jonelle Still, CipherTrace’s Director of Investigations and Intelligence, in <a href="https://crypto.news/bitcoin-fog-founder-convicted-crypto-laundering/" target="_blank" rel="noreferrer noopener">the Bitcoin Fog case</a>. Still had previously <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.232431/gov.uscourts.dcd.232431.159.1.pdf" target="_blank" rel="noreferrer noopener">stated</a> that Chainalysis’ attributions were “unverifiable” and criticized the prosecution’s investigation as “massively incomplete.” 
 You might also like: <a href="https://crypto.news/ciphertrace-patent-monero-xmr-transaction-tracking-system/"> CipherTrace files patent for Monero (XMR) transaction tracking system </a> 
However, Mastercard later <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.232431/gov.uscourts.dcd.232431.239.1_1.pdf" target="_blank" rel="noreferrer noopener">withdrew</a> Still’s testimony, asserting that the data she relied on was “unverifiable and unauditable,” originating from pre-acquisition data collection practices, Fortune pointed out. Crypto.news reached out to CipherTrace for comment and will update the article if we hear back. 
Earlier findings by the Financial Action Task Force (FATF) reveal substantial variations in blockchain data mapping among different on-chain analytics providers. 
In July 2021, FATF <a href="https://www.fatf-gafi.org/content/dam/fatf-gafi/guidance/Second-12-Month-Review-Revised-FATF-Standards-Virtual-Assets-VASPS.pdf" target="_blank" rel="noreferrer noopener">issued a report</a> comparing peer-to-peer transaction data from seven blockchain analysis firms: Chainalysis, CipherTrace, Coinfirm, Elliptic, Merkle Science, Scorechain, and TRM Labs. The comparison highlighted significant discrepancies in the data provided by these companies, leading FATF to acknowledge the challenge of drawing definitive conclusions from the presented graphs. 
 Read more: <a href="https://crypto.news/chainalysis-crypto-money-laundering-falls-29-as-lazarus-others-respond-to-mixer-sanctions/"> Chainalysis: Crypto money laundering falls 29% as Lazarus, others respond to mixer sanctions </a>

Mastercard’s CipherTrace reportedly discontinues some of its services amid data verifiability concerns

crypto.news

在 2024年3月14日發表的其他文章

Syntropy Secures Fresh Funding to Build Out Its Web3 Data Layer (14 Mar)

The DeeStream (DST) Presale and Dogecoin (DOGE) Investors Set Records: Anticipated 100X Excitemen...

Bit Bull - Fair Launch on PinkSale - Softcap Reached - BSC Token

XRP Experiences Large Transactions and Price Downturn

Arbitrum Introduces Ethereum Dencun Support with ArbOS 20 “Atlas” Release

Solana’s Price on the Rise Towards $250

訂閱免費電子報，每天收取加密貨幣最新動態！