A new alliance involving CipherTrace, the world’s leading cryptocurrency intelligence provider, is empowering students with investigation skills on how to track and recover stolen cryptocurrencies according to a report on January 13.
The security company partnered with Middlesex University London, Middlebury Institute of International Studies at Monterey, and the Blockchain Acceleration Foundation (BAF) to debut the initiative known as “CipherTrace Defenders League.”
At the moment, the new project consists of students in Middlebury and Middlesex as well as BAF students at nine universities in California.
The sole aim of the project is to enable students to investigate crypto-related scam and fraud cases, as CipherTrace noted that it would “provide students valuable real-world blockchain analytics experience using industry-leading cryptocurrency tools.”
After training, students will be certified to make better use of the investigation software to help victims recover stolen and scammed funds. As explained, the tools will enable the students to know how to track and recover stolen cryptocurrencies lost to fraudsters.
Most importantly, in the case of small losses, the students, through their investigation skills, will provide services to help recover such losses, since law enforcement agencies may not be able to investigate cases with small funds.
“Their objective will be to produce actionable intelligence and evidence that can be used to recover stolen funds and ultimately prosecute those criminal actors responsible for the losses,” said the director of investigations and education for CipherTrace, Pam Clegg.
While CipherTrace Defenders League is not open to everyone yet, the company also announced an upcoming global series of CipherTrace Certified Examiner (CTCE) training events with boot camps in London, Frankfurt, Monterey, Singapore, New York, San Francisco, Los Angeles.
The development is quite significant in the crypto and blockchain space, as the cybersecurity firm reported on May 1, 2019, that fraudulent activities and theft in crypto hit a new all-time high in the first quarter of 2019.