CipherTrace Scout App Lets You Flag BTC/ETH Tokens On Mobile

Crypto investigation apps are in the latest cryptocurrency news. As the updates show, the blockchain forensics firm CipherTrace recently built its all new CipherTrace Scout app which is a mobile tool for flagging Bitcoin and Ethereum tokens with a criminal past.

Announced today on many best cryptocurrency news sites, the CipherTrace Scout app is a great solution granting street-level investigators more freedom to identify, trace as well as document illicit crypto transactions from the field. This is how the company representatives and law enforcement experts described it.

The software in the app basically builds on a suite of investigative tools that are already used by investigators. An app-based interface is the main subject that “traces” addresses through the blockchain to identify what coins may have been used by the crypto underworld. The CipherTrace Scout app may also investigate dark market purchases or ransomware extortion attacks.

Accrording to one financial crime and compliance analyst at CipherTrace, the app flags potentially criminal addresses whenever a user inputs an address. CipherTrace Scout app generate san instant report “with a high degree of certainty,” the analyst said.

“You can imagine some beat cop in a high risk area, literally finding something that appears to be tainted. He can share a case with an analyst at headquarters and that analyst could do the tracing very quickly to determine where the source of the funds were.”

Casey Bohn who is a high-tech crime specialist and educator for the National White Collar Crime Center is the person training the agents to use the CipherTrace Scout app. According to her, the new technology will be of immediate use in the field.

“I think a scenario like this [CipherTrace Scout], where I can put an address in and see: ‘hey, this [address] has been involved in some sort of nefarious activity,’ I think that can be huge,” Bohn, who teaches law enforcement officials how to use tracking services, said. “You can almost rule in and rule out things at that point.”

As the altcoin news show, CipherTrace Scout app is a solution that builds on what Bohn describes as a law enforcement favorite: visualization.

“We can visualize the transactions [using the software]. I can see ‘from A to B” and then I can start pivoting from there in a visual manner, which is often times easier for someone to understand.”

“I like the visualization, the students like the visualization,” Bohn noted.