Cloudburst Technologies Spearheads Innovation in Crypto KYC and Cyber Intelligence, Surging Ahead with Enhanced Offerings, Team Expansion, and Strategic Partnerships

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Apr 15, 2024, 09:00 ET

NEW YORK, April 15, 2024 /PRNewswire/ -- Cloudburst Technologies, the leading provider in crypto KYC and off-chain cyber intelligence, is rapidly accelerating its growth, with expanded data offerings, an increased team size, and new partnerships in both commercial and public sectors.

Cloudburst has harnessed AI technology for real-time, large-scale data classification and parsing, enhancing its ability to detect potential fraud and market pricing signals. The data science team, spearheaded by Head of Engineering Ben Turner, has developed several proprietary methodologies for gauging the market influence of online actors, based on their activities, impacts, and accuracy. In the past three months alone, the company has more than doubled the total number of suspected crypto fraud actors in its data pool, and has more than tripled the number of social media chat messages.

From an initial focus on price manipulation and pumps-and–dumps, Cloudburst has rapidly expanded to cover a variety of crypto fraud actors engaging in crypto draining, wash trading, and pig butchering. Cloudburst has already identified over 5,000 fake crypto trading websites being used in suspected pig butchering campaigns and confirmed over $31 million in cryptocurrency funds stolen as the result of pig butchering scams. Based on popular demand, within the next quarter, the company also plans to debut a new product squarely aimed at the TradFi commodity trading market.

Cloudburst's latest venture funding round includes an investment from In-Q-Tel, Inc. (IQT), the not-for-profit strategic investor for the U.S. national security community and America's allies. IQT prioritizes investment in high-tech companies that keep their government agency partners equipped with the latest in innovative technologies. This strategic partnership has opened a pathway for Cloudburst Technologies to support a variety of U.S. government agencies.

"We are proud to partner with Cloudburst to provide critical data and analysis to help advance our government partners' missions," 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