The blockchain surveillance firm Ciphertrace claims to have created the “world’s first” monero tracing tools for law enforcement. According to the company announcement, Ciphertrace developed forensic tools for the U.S. Department of Homeland Security (DHS) in order to track illicit monero transactions. Despite the firm’s claims, there is zero evidence provided that prove the company actually has such tools.
Since the open-source cryptocurrency was first invoked in 2014, the Monero (XMR) project has been heralded for privacy-centric techniques. The digital asset network uses enforced privacy for all transactions by leveraging concepts like ring signatures, bulletproofs, and stealth (one-time) addresses.
Due to the privacy-centric enhancements, the digital currency XMR has gained notoriety on darknet markets (DNM), as monero represents a great share of DNM transactions.
However, Ciphertrace, a blockchain intelligence firm that works with global law enforcement and regulators, claims it has a tool that can “trace and visualize…