Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybercrime

Mastercard to Acquire Blockchain Analytics Firm CipherTrace

Mastercard

Mastercard

Payments giant Mastercard (NYSE: MA) announced Thursday that it has agreed to acquire cryptocurrency intelligence and blockchain analytics company CipherTrace for an undisclosed sum.

Founded in 2015, CipherTrace focuses on crypto-currency intelligence, anti-money laundering (AML), blockchain analytics and forensics, and compliance solutions. The company first started tracking Bitcoin criminal activity in 2011, and claims to have insight into more than 900 cryptocurrencies.

[Related: Inside Mastercard’s Push for Continuous Security

“Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient,” said Ajay Bhalla, president, Cyber & Intelligence at Mastercard. “With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this.”

The transaction is expected to close before the end of the year.

Earlier this year, Mastercard announced that it would buy digital identity verification company Ekata for $850 million. In early 2020, Mastercard acquired third-party risk management firm RiskRecon, and acquired Ethoca in 2019, a firm that helps merchants and issuers to identify and resolve digital frauds such as false chargebacks.

RelatedCipherTrace Unveils Crypto-Currency Anti-Money Laundering Solution

Written By

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybercrime

Zendesk is informing customers about a data breach that started with an SMS phishing campaign targeting the company’s employees.

Cybercrime

The release of OpenAI’s ChatGPT in late 2022 has demonstrated the potential of AI for both good and bad.

Cybercrime

The FBI dismantled the network of the prolific Hive ransomware gang and seized infrastructure in Los Angeles that was used for the operation.

Cybercrime

A new study by McAfee and the Center for Strategic and International Studies (CSIS) named a staggering figure as the true annual cost of...

Ransomware

US government reminds the public that a reward of up to $10 million is offered for information on cybercriminals, including members of the Hive...

Ransomware

The Hive ransomware website has been seized as part of an operation that involved law enforcement in 10 countries.

Cybercrime

A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...