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.
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
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 – email@example.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.
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.
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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