Chainalysis Introduces a Service for Victims of Crypto Crime

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To assist businesses in defending against crypto-related assaults and vulnerabilities, blockchain analytics company Chainalysis has introduced a quick reaction service.

The top blockchain research company in the industry may be able to provide a hand to crypto firms.

Chanalysis have established a new 24-hour quick response hotline to assist businesses impacted by crypto-related flaws or attacks. The Cryptocurrency Incident Response initiative would match businesses with a specialized team of professionals who will work closely with the victims of cybercrime to assist them in locating and labeling stolen money, coordinating with law police, and proposing asset recovery counsel.

The company said that the victim might call the 24/7 Chainalysis Crypto Event Response hotline if an incident like a hack, ransomware attack, code exploit, or flash loan attack happens and bitcoin money is either demanded or stolen. According to Chainalysis, the initiative was started not just to assist prospective victims of cryptocurrency crime but also to aid in prosecuting criminals and demonstrate that cryptocurrency is not the asset class of anonymity and criminality.

Chainalysis tăng 100 triệu đô la, gấp đôi định giá lên hơn 2 tỷ đô la đánh  dấu bùng nổ trở lại của tiền điện tử

One of the biggest blockchain intelligence companies in the world is Chainalysis. Hundreds of cybercrime situations using cryptocurrencies have been resolved with the assistance of private and decentralized crypto groups, police enforcement, and other governmental organizations.

According to a cryptocurrency crime report released by the company in January, cybercrime events using cryptocurrencies reached all-time highs in 2021, with $14 billion moved via illegal transactions. Furthermore, scams generated $7.8 billion in income over the year, $2.8 billion of which purportedly came from “rug pulls”—a fraud in which cryptocurrency entrepreneurs abruptly abandon their businesses, remove the liquidity from decentralized exchanges, and flee with the money. Theft, on the other hand, came to almost $3.2 billion, with bitcoin taken from DeFi protocols accounting for 72% of the total.

Chanalysis’ Crypto Incident Response will probably prove important for industry stakeholders moving ahead, given the billions of dollars in losses experienced annually and the cryptocurrency sector’s rising popularity as a target for hackers.

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