Cypher Trace added the Binance smart chain to its analytics toolkit

The intelligence tools developed by Cypher Trace can now be used to detect illegal activity across the Bainance smart chain and over 600 dapps based on it.

CipherTrace has added support for Smart China Bainance (BSC) to its analytics tools. This integration feature allows the detection of any suspicious activity within the chain.

 The China Bainance Smart Network was developed by an exchange of the same name and is similar to Atrium in that it allows developers to create various applications on top of the network. However, it is much more focused. At the time of writing, there are more than 4,000 Atrium nodes that approve transactions on the network, and there are only 21 nodes in the Smart China Bainance network.

CipherTrace CEO Dave Jevans explained in a statement: "One of the benefits of our data document system is that when we add analytics tools to the blockchain, it supports all the applications built into it. We also add the network.

This new feature allows crypto service providers such as exchange offices, banks, OTCs, wallets and other financial institutions to detect suspicious transactions in the China Binance Smart Network and help prevent illegal activities such as fraud. کردن.

Researchers at CipherTrace recently stated that the rapid growth of the cryptography industry is leading to an increase in illegal activity.

"Compliance with global anti-money laundering regulations is of paramount importance," added Samuel Lim, CEO of Bainance. He hopes to integrate network credentials as well.

The Banks Exchange, meanwhile, is currently under investigation by the US Department of Justice and Home Revenue Service.