Blockchain intelligence company CipherTrace has developed a new tool for the US Department of Homeland Security (DHS) to track transactions of the privacy-focused coin Monero (XMR).
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The company says the tool was developed under contract with DHS Science & Technology Directorate. Hence, the law enforcement and government agencies will reportedly be able to monitor and visualize XMR-related transactions flows for criminal investigations.
The tool has support for transaction search, exploration, and visualization tools.
CipherTrace CEO Dave Jevans says CipherTrace's research and development team worked for a year on developing techniques "for providing financial investigators with analysis tools."
"There is much work still to be done, but CipherTrace is proud to announce the world’s first Monero tracing capability. We are grateful for the support of the Department of Homeland Security’s Science & Technology Directorate on this project," Jevans added.
XMR remains to be the second-favorite crypto for criminals on darknet markets. The coin, according to CipherTrace, has a particularly "unique design" to ensure user anonymity including always-on, enforced privacy.
Earlier, iHodl reported that a new peer-to-peer malware botnet is actively using the Monero cryptominer.
The so-called FritzFrog botnet has a decentralized infrastructure, as it distributes control among all its nodes, which makes the malware network resilient and up-to-date.
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