CipherTrace, an analytic company with the participation of several universities, introduced the free Defenders League training program, which will help investigate cases of cryptocurrency fraud.

CipherTrace announced that the course was launched in collaboration with the Middlebury Institute of International Studies at Monterey, Middlesex University London and the non-profit organization Blockchain Acceleration Foundation (BAF). Students from nine other California universities will participate in the program.

According to CipherTrace chief financial analyst John Jefferies, the main goal of the training course is to make cryptoeconomics safer for traders and investors. According to a study by CipherTrace, by the end of the third quarter of 2019, losses from fraud and theft in the cryptocurrency industry amounted to more than $ 4 billion.

With access to the full suite of CipherTrace tools, certified students will be able to trace funds lost in cryptocurrency fraud and theft.


John Jefferies

CipherTrace chief financial analyst

CipherTrace will provide successful students with a grant of $ 4.3 million and will train them using special software that is used to detect cases of money laundering, conduct investigations by law enforcement agencies and control by regulatory authorities.

Program participants will have full access to the professional version of the CipherTrace Investigator Plus tool that supports more than 800 tokens. With this tool, students who receive a certificate of completion will be able to track cryptocurrencies lost as a result of fraud or theft.

Jeffries said CipherTrace plans to license its software to researchers from other universities and even the UN. CipherTrace and BAF are already actively negotiating with other institutions that could join the program. In addition, CipherTrace will organize free one-day CipherTrace Certified Examiner workshops in Monterey, London, Frankfurt, Singapore, San Francisco, Los Angeles and New York. The company also plans to conduct monthly remote webinars.

 BAF’s vice president Piergiacomo Palmisani believes this is a great opportunity for students to access the high-quality tools that CipherTrace staff use themselves and hopes that other universities in the country will participate in the program to train as many specialists in research of cryptocurrency projects.

CipherTrace and BAF are confident that such an initiative will “clear” the cryptocurrency market from scammers and illegal financing.

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