Ciphertrace Files 2 Patents for Systems to Identify Criminal Monero Transactions
Cryptocurrency intelligence firm Ciphertrace has filed two patent applications for tools and systems to trace monero transactions. The company aims to enable the detection of criminal uses of privacy coins like monero.
Monero Tracing Patents
Blockchain analytics and cryptocurrency intelligence firm Ciphertrace announced Friday that it has filed two monero tracing patents. One patent is called “Techniques and Probabilistic Methods for Tracing Monero” and the other is “Systems and Methods for Investigating Monero.”
They two patents cover a number of areas, including “Forensic tools to explore monero transaction flows to assist in financial investigations,” “Transaction visualization tools and ways to track stolen monero currencies or illicit monero,” and “Methodologies for gaining intelligence about transactions that rely on third-party nodes.” The crypto intelligence firm described: Ciphertrace’s goal is to enable the detection of criminal users, therefore increasing the safety and sustainability of privacy coins like monero in the future.
