Cellebrite launches cryptocurrency investigation feature

The cryptocurrency tracing tool is an inclusive investigation system that aims to accelerate cryptocurrency and blockchain investigations. The tracing tool dubbed Tracer streamlines a variety of features including powerful investigation, easy-to-use, and training programs for analysts, and investigators new to the platform.

This initiative will put the cryptocurrency industry one step ahead of the criminals. Nowadays, crimes are increasing at a high rate and most of the crimes are committed online.

So, if a platform has the ability to track and attain pieces of evidence of a crime on certain grounds, the daily ratio of crimes will drop at a whopping rate.

Criminals get away with crimes due to untraced online transactions across the borders. Although Blockchain technology keeps the track of your transaction without revealing the real identities.

The darknet market transactions have spiked to 100% over the last few decades. According to the Oxford University report, bitcoin has a significance in $76 billion worth of illegal crimes.

Compiling countless data information

The tracing tool will help investigators to compile countless private sources, open sources, and deception data. Resulting in an increase of dataset over 522 million attributable factors.

This information data provides law enforcement agencies and investigators an in depth look in the transactions. Meaning the investigator knows where the money came from and where it went, may it be your wallet or exchange.

The color-coded and graphic mapping make the activities of perpetrators crystal clear to the investigators. And grasp the criminal activity and the criminal committing it.

Leeor Ben-Peretz, the chief strategy officer at Cellebrite said:

“Some of the major features of the solution include the ability to conduct risk scoring and profile hundreds of global exchanges, ATMs, mixers, money laundering systems, gambling services, and known criminal addresses and assign risk levels to transactions.”

As the cryptocurrencies are gaining more momentum, most likely the criminals will use cryptocurrencies to commit illicit activities.