CipherTrace's Blockchain Forensics Service Now Covers 700 Crypto Assets

The transactions of over 700 cryptocurrencies are now searchable via the blockchain analytics offering from CipherTrace.

Backed by notable firms like Galaxy Digital, CipherTrace has most recently been involved in the push towards addressing regulatory guidance issued by the Financial Action Task Force in June.

With some 522 million data attribution points, CipherTrace says its platform is uniquely situated to tackle real-world applications like terrorist financing.

"Until now, large swaths of the cryptocurrency ecosystem have remained opaque to AML and CTF monitoring," CipherTrace CEO Dave Jevans said in a statement.

"Only by helping virtual asset service providers rid their networks of criminals and terrorists will the industry achieve the level of trust required for widespread adoption and government acceptance."

With the update, the complete financial transaction histories of top cryptocurrencies by market cap such as ethereum, litecoin, and bitcoin cash have become available.

Support for ERC-20 tokens and smart contracts has also been added, including transaction and counterparty information, CipherTrace said.

Through features such as transaction alerts for flagged accounts, CipherTrace is marketing its product to government and law enforcement agencies, as well as crypto and blockchain firms that seek to align with increasingly tough international rules.