A well-known blockchain forensics company CipherTrace has recently launched CipherTrace Scout, a new mobile app that can be used to flag BTC and ETH tokens that were involved in criminal transactions.
The main goal of the new app is to give investors more freedom while they are tracking cryptos. Most crypto tracking software until now were not mobile, so street-level investigators would need an office to use them. With the help of this app, however, they can do it while working in the field.
CipherTrace Scout will have several tools that can be used for investigation. The main tool is a feature that lets the investigator flag tokens that were used illegally. After flagging them, they can be tracked and seen. This can help to see clearly who is using the money for illegal activities.
Julio Barragan, an analyst at CipherTrace, affirmed that the reports are generated instantly and that they are pretty accurate. This, experts affirm, can have immediate uses in police work.
This is, however, not really such a new product. Investigators in countries such as the U. S. are already using crypto software to track criminals for a long time. The difference is that the services tended to be harder to use before and now companies are starting to perceive that they need to improve the usability of these products to make them more useful.
CipherTrace Scout is a product that is adapting to current trends. It can be used to understand how cryptos are used on the street level. Cases of small drug sales, child pornography and others can be traced more easily with its help. Cryptos are getting very easy to acquire, so more people are obviously going to use it, and this means that it will be used in crimes as well.