Crypto analytics firm CipherTrace raises $15M led by Novogratz’s Galaxy Digital

posted 3 months ago
Blockchain & cryptocurrency security firm CipherTrace raised $15 million in funding from investors including Mike Novogratz’s Galaxy Digital. CipherTrace provides analytics & forensics products for cryptocurrencies and blockchains that it says are already in use by government, regulators, law enforcement and auditors to help enforce anti-money laundering laws and tackle crime.

By collecting a range of data points & using machine learning to crunch that data, the firm says it can de-anonymize blockchain-based transactions and trace flows of funds to “legitimate entities as well as criminal enterprises.”
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