Tech
Cloudburst Technologies Drives Innovation in Crypto KYC and Cyber Intelligence, Advancing with Enhanced Offerings, Team Expansion, and Strategic Partnerships
NEW YORK, April 15, 2024 /PRNewswire/ — Cloudburst Technologies, a leading provider of off-chain cryptographic KYC and cyber intelligence services, is rapidly accelerating its growth with expanded data offerings, a larger team, and new partnerships in both the commercial and public sectors.
Cloudburst has leveraged AI technology for large-scale, real-time data classification and analysis, improving its ability to detect potential fraud and market price signals. The data science team, led by Engineering Manager Ben Turner, has developed several proprietary methodologies to assess the market influence of online actors, based on their activity, impact, and accuracy. In the last three months alone, the company has more than doubled the total number of suspected crypto fraud actors in its data pool and more than tripled the number of social media chat messages.
From an initial focus on price manipulation and pump-and-dumps, Cloudburst has quickly expanded to cover a variety of crypto fraud actors involved in crypto draining, wash trading, and pig slaughter. Cloudburst has already identified over 5,000 fake cryptocurrency trading websites used in suspected pig slaughter campaigns and has confirmed over $31 million in stolen cryptocurrency funds as a result of pig slaughter scams. Based on popular demand, the company also plans to launch a new product directly targeting the TradFi commodity trading market within the next quarter.
Cloudburst’s latest round of venture funding includes an investment from In-Q-Tel, Inc. (IQT), the nonprofit strategic investor for the U.S. national security community and America’s allies. IQT prioritizes investments in high-tech companies that keep their government agency partners equipped with the latest innovative technologies. This strategic partnership has paved the way for Cloudburst Technologies to support a variety of U.S. government agencies.
“We are proud to partner with Cloudburst to provide essential data and analytics that will help advance the missions of our government partners,” said Grant Whiting, Partner, IQT.
About Cloudburst Technologies
Cloudburst Technologies was founded in 2022 and is headquartered in New York. Our investors include Strategic Cyber Ventures, Coinbase Ventures, Bloccelerate VC, CoinFund, and In-Q-Tel. https://burst.cloud/
Media Contact: Evan Kohlmann CEO, Cloudburst Technologies [email protected]
SOURCE Cloudburst Technologies