CipherTrace Has Developed A Tool For Tracking Monero Transactions

CipherTrace, a leading cryptocurrency intelligence company, has developed a tool that will enable the U.S. Department of Homeland Security (DHS) to track illegal transactions using Monero (XMR). According to CipherTrace, the tool has been integrated with its financial investigation product Inspector and has several features including search, research and visualization tools for all Monero transactions.

Over the years, security forces, including the US Department of Homeland Security, have shown interest in developing tools that would make it easier to track illegal transactions using Monero (XMR). Now it becomes possible.

The firm also noted that the tracking tool will help rebuild the trust of exchanges in Monero by reassuring them that XMR transactions are not fraudulent. In addition, exchanges will be able to investigate all Monero transactions that may be fraudulent.

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