Analysis company trains students to detect scams with cryptocurrencies

The cryptocurrency analysis firm CipherTrace has launched “Defenders League”, a program designed to provide students with the training and tools necessary to investigate cryptocurrency-related scams.

On January 13, CipherTrace announced partnerships with the Middlebury Institute for International Studies in Monterey, Middlesex University of London and the Blockchain Acceleration Foundation (BAF). Initially, the League of Defenders will be composed of graduate students from Middlebury and Middlesex, along with BAF students at nine universities located in California.

CipherTrace’s chief financial analyst, John Jeffereies, told Cointelegraph that the goal of the Defenders League is to make crypto economics safer for consumers and investors.

CipherTrace reported that the cost of robberies, scams and fraud has already reached more than $ 4 billion by the end of the third quarter of 2019, emphasizing the urgent need for adequate solutions to be brought to the market to combat crypto crime and protect individual investors Jefferies said the following:

“Together, the collaborating entities will train students with training and tools to investigate cases of scam and fraud related to cryptography, helping to make cryptography economics safer for everyone.”

A free training program for students.

According to Jefferies, CipherTrace will train and certify students to use their financial research software. The software is used to detect money laundering, conduct police investigations and allow regulatory oversight.

CipherTrace is providing a $ 4.3 million grant to the Defenders League to help students visualize blockchain interactions, allowing them to access the CipherTrace data visualization tool, which is a standard software component.

Jefferies explained that Defender League students will have full access to the company’s professional software version, CipherTrace Investigator Plus, which supports more than 800 tokens:

     “With access to the complete set of CipherTrace tools, certified students will be able to track the funds lost in fraud and cryptocurrency theft.”

Jefferies mentioned that students in the training program will receive class credits while providing services to help recover “small” losses that are generally too small for law enforcement officials to investigate. The director of research and education CipherTrace, Pam Clegg, said the following:

“We have experienced a significant increase in requests for investigative and analytical support for cases of fraud and theft. The CipherTrace Defenders League will be an elite body of knowledgeable blockchain students who can conduct smaller-scale investigations. Their goal will be to produce actionable intelligence and evidence that can be used to recover stolen funds and ultimately prosecute the criminal actors responsible for the losses. “

In the future, Jefferies told Cointelegraph that CipherTrace is working on an initiative to grant software licenses to researchers and instructors at other universities and even the United Nations. He mentioned that CipherTrace, along with BAF, is actively discussing the possibility of incorporating several more institutions to join the League of Defenders. BAF Vice President Piergia as Palmisani told Cointelegraph:

“This is an incredible opportunity for students, who will have access to the same top-level tools used by CipherTrace employees. The Blockchain Acceleration Foundation will work closely with CipherTrace to ensure the success of this initiative in our partner universities and help expand the League of Defenders to other schools in the country. “

In addition, CipherTrace will offer free one-day training events for the “CipherTrace Certified Examiner” (CTCE). The boot camps will be held in Monterey, London, Frankfurt, Singapore, San Francisco, Los Angeles and New York.

According to Jefferies, these courses aim to provide attendees with the skills necessary to become expert financial researchers in cryptocurrencies. He also noted that remote training events will be available every month.

It is not a recruiting tool

While the CipherTrace League of Defenders may seem like a useful recruiting tool, Jefferies said this was not a motivating factor in developing the program. Rather, he explained that training students is a way of giving back to the blockchain community:

     “CipherTrace Cryptocurrency Intelligence has the information, but our team does not have time to investigate each case. This is an opportunity for CipherTrace to give back to the blockchain community by helping to eliminate the stain of illicit finances, dark markets and scammers. virtual assets. “

While this may be, the senior professor of digital forensic analysis at the University of Middlesex in London, Sukhvinder Hara, said that the training provided by CipherTrace will improve their employment opportunities, stating: “Being the only university in the United Kingdom with software Commercial cryptography research improves the employability of our students, particularly since they can certify as CipherTrace Certified Examiners. “

Reference: cointelegraph.com

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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