Things like money laundering, fake ICOs and other types of financial frauds involving cryptocurrencies are on the rise. Till now, it was way hard even for the authorities to investigate the crimes due to lack of data. Thanks to many advancement in the field and to serious work put in by many firms, now the landscape is much safer and easy to navigate. CipherTrace Defender’s League is a brilliant initiative taken by CipherTrace to empower the younger generation to navigate the crypto space.
Their main goal is to offer free bitcoin tracing service to people and also to help the student gain better knowledge about the ways the forensic tools work. This is a venture that benefits pretty much all of the parties involved and adds a lot of value to the public’s safety as well.
Just like everything with life, this initiative has certain aspects which you need to be aware of before employing any of their services and we will discuss them in the following section.
What is the CipherTrace Defender’s League?
CipherTrace Defender’s League is a program designed to help budding crypto enthusiasts track and recover funds lost to cryptocurrency frauds. This opportunity is truly one of a kind and the kind of tools that are made available to the students that enroll in the course are exceptional. The main goal is to enable the students track the flow of funds and make them resolve cases wherein small funds are lost.
Typically, law enforcement agencies cannot possibly accept and investigate every case due to the obvious restrictions they have. Though the majority of the fraud incidents contain small amount thefts, they all add up to a big number quickly creating a snowball effect.
Thankfully, the same thing cannot be said about the college students that are taking this course in exchange for credits. People under this wing will do the tracing work and will build up a solid case on behalf of the victims and the best part is, the victims do not have to pay for anything. Through this operational model, the retail side can know the details of the culprit and can take action against them at the earliest.
Who can Join the CipherTrace Defender’s League?
The cryptocurrency markets are growing exponentially and almost on a daily basis, there is something new and breathtaking news are flooding the sector. Hype created by people at the top is unparalleled and the retail side in many cases is just overwhelmed and clueless. So, clearly the need for crypto investigators are on the rise, but unfortunately, the supply curve is nowhere near the desirable levels.
On the other side, the proprietary tools used by this platform are also not something that can be made public. Currently, this initiative accepts students from Middlebury, Middlesex and BAF. All of the selected students will have access to a full suite of tools and certification is also provided.
On top of the things mentioned above, this platform also conducts remote training from time to time and workshops will be held too. At the time of publishing this blog, the range of tools available can track over 800 tokens including Bitcoin and Ethereum.
Free Crypto Tracking Service
One of the main myths about the crypto world is the anonymity factor. Obviously, decentralisation does shield the person sending and receiving the payments to a certain degree. However, it is not something that is impossible to trace. Bitcoin and a bunch of popular altcoins are easy to locate and once the initial transaction details are known, narrowing the specific account is not at all a big deal.
Get in touch with our affiliated Cryptocurrency Forensic Specialists at CNC Intelligence for free by filling out the form below.
If the culprit has moved money through reputable exchanges, then tracing their identity becomes much easier due to the KYC policies. As individuals, asking a firm or an exchange for customer’s details might be a big task which is why using a recovery agency is the best thing to do.
In case, the scammer has used tumblers or other modes of transfer, then the case will be complicated and it will take more time to put the bits and pieces together. Nonetheless, the average time required to trace a transaction is around one month and unless the crooks are extremely skilled, reports can be created within the timeframe mentioned above.
Point to be Noted
CipherTrace Defender’s League students will help victims of online scams in tracing Bitcoin or most other altcoins. However, once they have found the culprit, they won’t be able to take any actions about it. Using the data and reports generated by the students, victims have to take action, file a formal complaint and handle any other formalities and legal proceedings involved.
If the culprit has moved money through multiple regions or countries, then the process will be daunting and hiring an attorney may be something you need to do. On the other hand, if you are familiar with the way things work in this sector, then the situation can be handled on your own. At any point if you feel overwhelmed, then remember to divert the case to the professionals and by then as most of the work is done, the charges involved might be significantly lower.
CipherTrace Defender’s League Training and Grant Information
Members of the CipherTrace Defender League are given the same CTCE training used by law enforcement agencies around the world to acquire the skills needed to become professional investigators.
Along with the training, the students will be taught the ways of visualising the blockchain transactions and follow the flow of funds in over 800 different forms(cryptocurrencies). CipherTrace has also provided the students with a 4.3 million dollar software grant to make the entire process as professional as possible.
About CipherTrace
CipherTrace is an asset recovery agency that has earned a royal client base over the years. Their team consists of experts in every field related to consumer finance and their attorneys know the way the financial sector works which enables them to act quickly. People that have lost money to any kind of fake ICOs, crypto or forex investments and to phishing or hacking attempts can hire this platform to recover their money back.
The prices charged by this firm are very competitive and their offerings are suitable for both corporations and individuals. Moreover, the success rate is also respectable and thanks to the transparency element, they have made a huge name in the industry.
If you are not sure whether your case is something that can be resolved, then book a consultation with them and find out the answers for yourself. Along with asset recovery, below is the list of services they offer.
- Travel Rule Compliance
- Bank Risk Mitigation
- Anti-Money Laundering
- Financial Investigations
- Compliance Monitoring
- DeFi Sanctions Compliance
- Bitcoin ATM Compliance
- Training
In case you need any help, feel free to reach out to their customer support via contact form, telephone and email.
- Address – 140, Victory Lane, Los Gatos, CA, 95030
- Email – contact@ciphertrace.com
- Phone – 650-543-0020
Putting an end to Scams
Revolutions in the financial sector are hard to handle because of the domino effect it usually features. Decentralisation of power and blockchain technology has a lot to offer. People are slowly starting to realize the kind of opportunities the new world of finance has to offer and are embracing it. Unfortunately, as things move rapidly, the majority of the retail side are vastly misinformed and in most cases, they do not fully understand the consequences of their actions.
Scammers have understood the harsh reality of the situation and until the masses are educated enough, they will continue to loot people in one way or the other. Fear of missing out is also another factor contributing to the crypto scams and the conditions are perfect for the people operating on the wrong side of the law.
By encouraging the younger population to be familiar with crypto forensics, it is possible to put an end to the scams in this sector. Remember, crooks are not going to leave this sector anytime soon so the only logical way to deal with them is via tracing, tracking and making the criminals pay for their actions.
Serious Cases
Doing things like installing the latest anti-virus software and keeping systems up to date is good. However, one has to accept that scammers are getting way too desperate and it is forcing them to get creative in their approach. As users we should never let our guard down or else the consequences might be dire.
To avoid facing any kind of financial loss in the crypto world, always make sure you deal with regulated exchanges, say no to get rich quick schemes, and be very vigilant about new platforms. After taking precautionary steps if you still lose money to any scam, then do not feel bad because some platforms are very manipulative and at the end of the day, we are all human.
You can hire CipherTrace services to locate and retrieve your funds or you can reach out to our team via the contact form below. CipherTrace contact form requires you to input the key details of the incident including the scammer’s crypto address and the narrative they used.
As soon as they analyse the data, clients will be contacted with the game plan. Typically, the cases are resolved within a couple of months, but in case of big level phishing attacks and corporate breaches, time taken by them might exceed the timeframe mentioned above. Note that fees also depend upon the complexity of the case and the final cost will be made known only after the consultation.
Bottom Line
CipherTrace Defender’s League is a well funded educational venture that is trying to sculpt the students into a sensible forensics expert. Their work is appreciated and at the end of the day, efforts are made by them to make the world a better and safer place. Certificates are provided and the events held by them on a regular basis to spark the interest of people enrolled.
Though, the students won’t be working on any big cases, the experience they gain is going to be priceless. Eventually, they can get into any top firms working in the cyber security sector and build a great carrier.
So, if you qualify to apply for the program, then do not miss this amazing opportunity and do not forget to enroll within the permissible window. In case, if you have any other questions or queries about them that are not addressed in this post, leave a comment below and we will find out the answers for you.
CipherTrace Defender’s League is an excellent way for the younger generation to tackle the problems plaguing the crypto sector, Isn’t it? Let us know your views by commenting below.
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A Cybercriminal Scam Report
This is Yuyuan (Peter) Guo who has been a victim of the Chinese Pig Butchering Scam recently. I have been scammed $210,000 during this Chinese fraud. I lost all my life savings. I have paid attention to the fraud website and noticed that the scam website was shut down on 12/07/2022. I read a news article regarding the Pig Butchering Scam in Delaware. The Delaware DOJ initiated a halt to the Pig Butchering Crypto Scams. The enforcement policemen issued a cease-and-desist order to wallets, accounts, and individuals. This encouraged me because the scam website which robbed me just stopped. It may not be too late to take action against the cybercriminals. As the scammers copied the real American Crypto Company, they are most likely in the States. If the policemen can freeze the scammers’ wallet, it is likely that the stolen money could be retracted back. I will forward Coinbase and Kraken companies’ emails regarding cooperation with the enforcement agency. The scammer might be traced because I know the scammers’ wallets account. I know it will take a lot of effort. Fortunately, I am in America. This is a law country. The robbers should be punished, and people’s property should be protected. The fake website: A16Zcrypto.CC/H5/# run until 12/072022. I keep the woman’s voice and many photos (maybe not true). The scammer’s wallet account is: 0x281Df366c94A93ae3ca4dd0407dF3ba09e211498
In April, I got an invitation from a Chinese woman, Lena, who hopes to add me as a friend from Linkedin. I made a big mistake. She told me that she came to America as an EB-1 outstanding person to work for her sister in Little Rock, Arkansas. She told me that she was from my wife’s home town, Hang Zhou, China and she loved my hometown’s food. She then taught me how to set up an account in Japanese LINE to send mails freely. After weeks, she told me that she is working for a company to update the database system of its cryptocurrency exchange plate. She and her sister made money on that plate. The website is A16Zcrypto.cc/h5/#. Until very late I was told that this website is a scammer’s fake website. Then she asked me to invest money into this website. To help the Chinese Democratic Movement, making money to support the Chinese. I believed her lie. She asked me to open an account in Coinbase and buy coins there to transfer into the cryptocurrency exchange plate. Actually, all my money was transferred to her wallet instead of the fake website. What I saw as my profit is just a numbers game. When Coinbase realized that something was wrong, they shut down my account. This woman asked me to open another account in Kraken. Both Coinbase and Kraken asked people to use their real ID to open an account. The total money I transferred from my Chase Bank was $210,000. Every time, Coinbase and Kraken would send the receipt showing which wallet account my coins were sent to. I keep all the evidence.
Why am I so stupid? Because I thought this country is the USA, a law country. Who can open a fake website to rob other people without being stopped for several months? This is a big felony. Who dares do that? Several friends reminded me. but I did not listen. I was wrong. The Chinese Pig Butchering scammers thought they were smart and could escape from punishment.
I have reported to the local policemen station and FBI (IC3). Since I was scammed, my life was ruined. I watched the fake website all the time, hoping someday it could be shut down by policemen. I even tried to ask questions via their Q&A plate. I figured out their time zone. Later I believed that their website service station is located in Singapore. The scammer mentioned to me that she had a friend in Singapore. I sent a report to the Singapore Policeman several days ago. I am not sure if their website was shut down by the Singapore Policemen or by the FBI. These notorious Chinese Pig Butchering scammers were in two groups. One group is in Singapore to maintain the website station. The other group was in the United States to search the targets to rob by social media. They destroyed the trust of Americans and seeded the hatred among people.
I keep all the evidence, including the woman’s voice, her fake photos and her fake telephone number. I also keep the communication between her and me on LINE chat (a Japanese WeChat). This woman used a remote device to control my laptop to play the exchange on their fake website. I hope this can be used to locate her place. Please help me. Justice needs to be done!
Thanks a lot. I am looking forward to hearing from you. My phone is: 469-388-5960. Emails: peterguoxj188@gmail.com; yuyuanguo@mednet.ucla.edu
Sincerely
Yuyuan (Peter) Guo
I am sorry to hear that you have fallen victim to the Chinese Pig Butchering Scam, and that you have lost $210,000, which represents all of your life savings. It is commendable that you are taking steps to report the scam to the authorities and to seek justice.
It is important that you continue to work with the authorities, such as the FBI (IC3) and the Singapore Policeman, to provide them with all the evidence you have gathered. This evidence, including the woman’s voice, her fake photos, her fake telephone number, and the communication between her and you on LINE chat, could be used to help identify the scammers and bring them to justice. You are right that this is a law country, and the robbers should be punished, and people’s property should be protected.
Regarding your suggestion to forward Coinbase and Kraken companies’ emails regarding cooperation with the enforcement agency, it would be best to consult with your lawyer or law enforcement agency before taking any such action. It is important that any evidence or information you provide is handled properly, and that it is not used against you or in any way that could compromise the investigation.
Thank you for sharing your story and for raising awareness about online scams. It is important that people are informed and educated about these scams, so that they can take steps to protect themselves and their money.
Also, I noticed you submitted a consultation request. Someone from our team should be reaching out to you shortly.