monero now easier to trace

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    US Homeland Security Can Now Track Privacy Crypto Monero

    The popular privacy coin might not be so private anymore, as CipherTrace claims to have developed tools to trace it.

    By Andrew Hayward
    3 min read

    Sep 1, 2020



    Homeland Security is tracking crypto transactions. Image: Shutterstock


    In brief

    • CipherTrace claims to have built a Monero (XMR) tracking toolset.
    • The tools were created for the US Department of Homeland Security.
    • CipherTrace paints it as a positive for XMR by adding legitimacy to the privacy coin.

    Cryptocurrency

    intelligence firm CipherTrace announced today that it has developed a toolset for tracing Monero (XMR) transactions—and that it has done so at the behest of the United States Department of Homeland Security (DHS).

    Monero has gained popularity for its privacy-centric design, making it the second most popular coin for dark web transactions after Bitc


    According to CipherTrace, the firm spent a year working on the toolset, which was performed via a contract with the DHS Science & Technology Directorate. According to GovTribe, some $2.4 million was paid out to CipherTrace over the course of the contract, which was inked in 2018 and had a maximum potential value of $3.6 million.

 
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