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Chainalysis introduces the Crypto Incident Response programme

Thursday 23 June 2022 10:10 CET | News

Chainalysis has launched Crypto Incident Response, a rapid response service for organisations that have been targeted by a cyber-attack or unauthorised network intrusion that involves a cryptocurrency theft or demand.

 

The growth in the legitimate use of cryptocurrency is far outpacing the growth of criminal usage, with transactions involving illicit addresses representing just 0.15% of cryptocurrency transaction volume in 2021. However, certain types of illicit abuse – including stealing funds via hacking and ransomware – are at all-time highs. This presents national security concerns, degrades trust in cryptocurrency, and victimises innocent people around the world. 

After an incident such as a hack, ransomware attack, code exploit, or flash loan attack occurs and cryptocurrency funds are either demanded or stolen, the victim can contact the 24/7 Chainalysis Crypto Incident Response hotline. Chainalysis will then assign a dedicated team of experts leveraging advanced investigative capabilities to work around the clock and side-by-side with the victim organisation. If needed, the Chainalysis team can help liaise with law enforcement and asset recovery counsel.

Chainalysis investigators have worked with organisations in the private and public sectors on hundreds of incidents involving cryptocurrency and have helped solve some of the most high-profile cybercriminal cases. The Chainalysis Crypto Incident Response programme streamlines the engagement process so that no time is wasted, no matter where in the world the victim is located. Time is of the essence, and immediately tracing and labelling funds in the Chainalysis platform can make the difference in preventing bad actors from cashing out their ill-gotten gains.  

Attacks are increasing in frequency and severity, presenting a significant barrier to building trust in cryptocurrency. Chainalysis is investing in this service not just to assist organisations in their times of need, but also to help bring bad actors to justice and demonstrate that crypto is not the asset class of anonymity and crime.


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Keywords: Chainalysis, cryptocurrency, cybercrime, cybersecurity
Categories: DeFi & Crypto & Web3
Companies: Chainalysis
Countries: World
This article is part of category

DeFi & Crypto & Web3

Chainalysis

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