Blockchain Analytics tool, which combines software and data services has risk management, investigation, and compliance tools that can aid in checking for cybercriminal activity. Tools that support data visualization and crypto addresses are consistent with the service reference directory. These are the top 4 blockchain forensics tools that You definitely should try.
1. You definitely should try these blockchain forensics tools
1.1. Coin path
Coinpath is widely known as a set of blockchain-based on a difficult mathematical algorithm that performs complex calculations between blockchain addresses to prove the movement of money.
- To detect clusters that transaction flows, and other factors, account balances, Coinpath uses heuristics and machine learning.
- Multiple blockchain compliance and investigation solutions based on Coinpath APIs.
- The origin and destination, the transaction amount, and the path of the funds can all be tracked.
- Coinpath provides a clear path from the source of funds to a variety of crypto services and VASPs by evaluating wallet addresses and creating a clear data graph for money flow.
You have to pay at least 249$ per month for Coinpath
1.2. Walley explorer
Walley explorer is used by several well-known cryptocurrency exchanges and financial institutions around the world. It offers a variety of bitcoin and blockchain compliance investigation solutions.
- Walley explorer Lens gives you the information you need to protect your company and your consumers.
- For over 100 crypto assets, Walley explorerNavigator’s sophisticated tracking capabilities and adjustable risk criteria provide a consistent and accurate picture of the source and destination of funds.
1.3. Bitcoin View
Bitcoin View is a well-known blockchain analytics company that provides banks, crypto companies, and government agencies with the investigation and compliance tools. It comes with several tools for trade tracking, risk analysis, and visualization.
- Risky bitcoin transactions from darknet markets, frauds, and sanctioned addresses were detected by Bitcoin View KYT (Know Your Transactions).
- It has a simple interface to analyze and investigate transactions.
- The reactor is a blockchain cash flow visualization tool for any crypto address, such as Bitcoin or Ethereum.
- It also provides data on the real-world identities of blockchain addresses, which is important for bitcoin investigations.
CipherTrace provides a full range of risk monitoring and compliance solutions for VASPs (virtual asset service providers). It supports over 800 coins and helps you with crypto compliance by detecting cryptocurrency laundering, enabling law enforcement investigations, and regulatory oversight.
- Using insight into Know Your Customer (KYC) and Anti-Money Laundering (AML) processes, Armada highlights high-risk payments between banks and VASPs and uncovers risks associated with hundreds of VASPs and other virtual asset institutions
- Sentry uses proprietary clustering algorithms to quickly aggregate and correlate multiple metrics, then provide users with actionable attribution.
- It integrates with both open-source and closed-source intelligence and leverages proprietary clustering algorithms to quickly aggregate and correlate multiple metrics.
Decentralization is one of the most important features of Blockchain Technology as it is the source of all its advantages, such as trustlessness, censorship resistance, and immutability. Blockchains, at their foundation, have allowed individuals to create centralized third-party non-reliance systems to keep funds safe. Hope that this article brings you useful knowledge about how to protect your success.
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