With the increased cryptocurrency investments and usage in day-to-day operations, the number of cryptocurrency thefts is increasing as well. A previous research indicated that in 2018 only, over $700 Million was lost in cyber-related crimes. According to this research, it is clear that with the increased adoption of cryptocurrencies there will also be increased attacks, thefts, and hacks.
What Is BlockTrace?
BlockTrace is an online platform that seeks to address this challenge by offering Blockchain Forensic and Analytical Services to cryptocurrency users. The services range from blockchain investigations, technical training, asset recovery, AML crypto compliance solutions, and tailored market research intelligence reports.
How BlockTrace Blockchain Forensic And Analytical Services Works
The platform enables users to report security incidents in cryptocurrencies such as hacks, ICO frauds, crypto jacking, cryptocurrency thefts, or other related incidents by filling a form that is accessible on the BlockTrace website.
Once BlockTrace receives the Security Incident Report, it conducts a thorough investigation to determine the authenticity of the report. The results of the findings are then published in an intelligent report, which is accessible by the public.
Additionally, the platform assists individuals who have lost their cryptocurrencies through cyber-related crimes. Through the investigation team, the individuals are able to locate their stolen asset by tracking where the assets were stolen from and where they were sent. In most cases, the team will help the individuals in the recovery of their assets.
BlockTrace also has an in-house technical training program that aims at carrying out cryptocurrency investigations as well as tracing the movement of digital assets through a particular network in order to identify its entry and exit points, which will be beneficial in preventing cyber-related crimes.
BlockTrace comprises a team of experienced individuals with years of experience in various backgrounds and industries such as training, intelligence, cybersecurity, forensics, and investigations. This means that the services offered on the platform are top-notch.
Bitcoin Security News
The platform has a news section where users could access current Bitcoin security news, therefore, stay up to date with the market security trends, and take effective measures to keep their cryptocurrencies secure and make informed cryptocurrency decisions.
Secure Storage Of Data
The platform’s main priority is to protect its users’ information; therefore, it uses SSL protocol and encryption to ensure that personal information of users is not accessible by any unauthorized third parties such as hackers or attackers.
Through the investigations carried out by the BlockTrace team, the platform is able to publish intelligence reports for the public, prevent future losses of cryptocurrencies, and expose hackers and scammers in the cryptocurrency market.
Previously, recovery of stolen or lost digital assets was almost impossible. However, through BlockTrace, the victims, with the assistance of the investigation team, will be able to track the actual location of their digital assets and recover them.
Through this program, digital assets can be traced along a particular network, which enables the platform to identify points in which attacks or hacks are likely to occur and prevent the cybercrime from actually occurring.