CipherTrace, founded in 2015, develops cryptocurrency anti-money laundering, cryptocurrency forensics, and blockchain threat intelligence solutions. CipherTrace has just had a new patent application publish, focusing on using cryptocurrency to detect malware and ransomware.
The system constructs a malware and ransomware attack database using the cryptocurrency payment addresses that have suffered from such attacks. Using this database, the system is able to identify proposed cryptocurrency transactions with matching payment addresses, ultimately denying cryptocurrency payments from these suspect payment addresses.
CipherTrace currently has three patent application publications relevant to the Cryptocurrency Sector, spanning across the Analytics, Authentication, and Payment Systems sub-categories.
