SF based blockchain and cryptocurrency security firm has raised $15m in equity funding led by Aspect Ventures, with participation from Galaxy Digital, Neotribe Ventures, and WestWave Capital.
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Galaxy Digital Backs $15 Million Raise for Crypto Analytics Firm CipherTrace
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By collecting a range of data points and using machine learning to crunch that data, the firm says it can de-anonymize blockchain-based transactions and trace flows of funds to “legitimate entities as well as criminal enterprises.” As part of the funding deal, Aspect venture partner Mark Kraynak will join the CipherTrace board of directors. Kraynak said his firm believes that security and regulatory compliance will be “a key first hurdle to mass adoption.”
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