The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

On Friday, crypto analytics company CipherTrace announced that it had applied for two patents on technology for tracking privacy coin Monero transactions.

On November 20, CipherTrace stated in its blog that one of the patents is a forensic tool that can be used to explore Monero (XMR) transaction inflows to assist financial investigations as well as use statistical and probabilistic methods to settle transactions and gather possible wallet owners. One patent covers visual tools and methods for tracking stolen or illegally used XMR.

“CipherTrace’s Monero tracing capabilities will allow virtual asset service providers to identify when incoming XMR may have a criminal origin, allowing them to conduct appropriate risk assessments of customer transactions in compliance with any necessary regulations,”
The blog writes, “Our goal is to be able to detect criminal users, thus improving the security and sustainability of privacy coins like Monero.”

While Bitcoin (BTC) remains the preferred medium of exchange for many darknet market users, privacy coins like XMR have become increasingly accepted. Law enforcement agencies have yet to identify a reliable way to trace Monero, something that could be possible with companies like CipherTrace, which has reportedly been working on ways to trace XMR transactions since early 2019.

In August this year, CipherTrace CEO Dave
Jevans told Cointelegraph that the company developed the first tool to track Monero transactions. Such a tool could potentially support criminal investigations and reduce incidents of money laundering.

The company said it developed these tools to track Monero as part of a project with the U.S. Department of Homeland Security, but DHS is not the only government agency seeking to identify XMR wallets, transaction dates and times. In September this year, the IRS announced that it would offer rewards of up to $625,000 to anyone who could crack a Monero transaction.

The functionality of the CipherTrace tracing tool has not been confirmed. A Monero outreach representative told Cointelegraph in October that they were “highly skeptical of any claim that a company could track Monero transactions” and that any company that did so would be unlikely to “track any wallet or amount of transactions.”

As of this writing, the price of Monero is $123.37, down 3.6% in the past 24 hours.