Tagged: chainalysis

December 15, 2024 @ 9:26 pm By Omar Faridi  |  

Although stablecoins like Tether’s USDT and Circle’s USDC offer considerable benefits to the financial system, addressing their misuse by illicit actors is of the “utmost importance,” according to an update from Chainalysis. Chainalysis explained that it serves a critical role in proactively “assisting in the… Read More

November 21, 2024 @ 9:56 pm By Omar Faridi  |  

Chainalysis are pleased to share the fifth annual Chainalysis Global Crypto Adoption Index. In each year’s report, they look at both on- and off-chain data “to determine which countries are leading the world in grassroots crypto adoption.” Chainalysis research highlights countries “where unique cryptocurrency use… Read More

November 18, 2024 @ 8:50 am By Omar Faridi  |  

Gurvais Grigg, a former Special Agent and senior executive for the Federal Bureau of Investigation (FBI) with 30+ years of public and private sector experience, is now serving as the Global Public Sector CTO at Chainalysis, where his work assists law enforcement (LE) and other… Read More

October 24, 2024 @ 9:00 am By Omar Faridi  |  

Stablecoins are dominating market share in the crypto ecosystem, as Bitcoin (BTC) continues to gain adoption. This, according to a report from Chainalysis which also noted that merchant services are now thriving in Central, Northern, and Western Europe. Central, Northern, & Western Europe (CNWE), the… Read More

October 18, 2024 @ 5:57 pm By Omar Faridi  |  

North America remains the largest crypto market globally, with an estimated $1.3 trillion in on-chain value received between the time period of July 2023 and June 2024, accounting for around 22.5% of all such activity. This, according to an update from Chainalysis. The research report… Read More

September 27, 2024 @ 9:34 am By Omar Faridi  |  

On September 26, 2024, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Russia-based exchange Cryptex and Sergey Sergeevich Ivanov (a.k.a. UAPS a.k.a TALEON), who facilitated laundering “for fraud shops, ransomware payments, darknet markets, and other criminal actors.” Following these developments,… Read More

September 26, 2024 @ 3:18 pm By Omar Faridi  |  

Chainalysis recently shared key insights from its 2024 Geography of Cryptocurrency Report. According to the Chainalysis research report, the MENA region ranks as the seventh-largest crypto market globally in 2024, with “an estimated $338.7 billion in on-chain value received between July 2023 and June 2024,… Read More

September 19, 2024 @ 9:44 pm By Omar Faridi  |  

Eastern Asia is the sixth largest cryptocurrency economy in the world this year, accounting for 8.9% of global value received between July 2023 and June 2024. This, according to an update from Chainalysis. Chainalysis noted that the region received “more than $400 billion in on-chain… Read More

September 10, 2024 @ 7:23 am By Omar Faridi  |  

In the world of law enforcement, the ability to seize cryptocurrency has become crucial, according to an extensive update from Chainalysis. As digital currencies play a significant role in criminal activities, the stakes are “higher than ever.” Chainalysis also mentioned that missing even a single… Read More

September 6, 2024 @ 8:51 am By Omar Faridi  |  

Chainalysis has shared key insights focused on Russia’s cryptocurrency pivot as well as legislated sanctions “evasion.” In response to mounting financial pressures of Western sanctions, Russia enacted significant legislation “legalizing cryptocurrency mining and permitting the use of cryptocurrency for international payments.” Chainalysis added that the… Read More

September 2, 2024 @ 9:52 pm By Omar Faridi  |  

Chainalysis has release the report entitled, 2024 Crypto Crime Mid-year Update Part 2: China-based CSAM and Cybercrime Networks On The Rise, Pig Butchering Scams Remain Lucrative. Key findings of the Chainalysis update: CSAM networks Reportings of China-based CSAM sites have increased since late 2023. A… Read More

August 26, 2024 @ 6:48 pm By Omar Faridi  |  

On August 23, 2024, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced further sanctions against nearly 400 entities as a part of ongoing multilateral efforts “to weaken Russia’s military supply chain and procurement networks.” Chainalysis noted in a blog… Read More

August 16, 2024 @ 7:52 am By Omar Faridi  |  

Chainalysis has released the report, entitled 2024 Crypto Crime Mid-year Update Part 1: Cybercrime Climbs as Exchange Thieves and Ransomware Attackers Grow Bolder As noted in the report from Chainalysis, aggregate illicit activity on-chain “has dropped by almost 20% year-to-date, demonstrating that legitimate activity is… Read More

July 22, 2024 @ 12:20 pm By Omar Faridi  |  

Approval phishing is an increasingly popular tactic used by criminals to steal funds through different scamming techniques such as fake crypto apps and romance scams (also known as pig butchering), according to an update from Chainalysis. With the approval phishing technique, the scammer tricks the… Read More

July 13, 2024 @ 11:06 am By Omar Faridi  |  

While public blockchains are inherently transparent and traceable, illicit actors turn to cryptocurrencies “to launder ill-gotten gains for the same reasons people use them for legitimate purposes: they are cross-border, virtually instant, and generally inexpensive to transact,” the team at Chainalysis noted in a blog… Read More

July 8, 2024 @ 10:46 am By Omar Faridi  |  

Chainalysis has been sharing detailed insights on issues related to MiCA’s Stablecoin Regime and its remaining challenges. Despite the extensive work by the EBA and ESMA, in close cooperation with national regulators, Chainalysis points out that MiCA still leaves “some room for interpretation and uncertainty,… Read More

June 22, 2024 @ 9:26 pm By Omar Faridi  |  

Chainalysis has shared several key insights from the 2024 State of Cryptocurrency Investigations Report. In 2024, cryptocurrency adoption continues to grow, the Chainalysis team noted while adding that it “enables millions of people around the world to transact without middlemen and take greater control of… Read More

May 8, 2024 @ 9:25 am By Omar Faridi  |  

Emirates NBD, a banking group in the MENA (and Türkiye) region, has announced Chainalysis as a key council member of the Digital Asset Lab. Chainalysis, the blockchain data platform, will “join professional services firm PwC, digital asset transfer and direct custody technology platform Fireblocks, and… Read More

May 4, 2024 @ 11:01 am By Omar Faridi  |  

Chainalysis, the blockchain intelligence firm, and Chainalysis Government Solutions (CGS), Chainalysis’ wholly-owned subsidiary focused on U.S. government customers, today announced that part of the company’s Crypto Investigations solution – has “achieved an In Process designation from the Federal Risk and Authorization Management Program (FedRAMP) and… Read More

May 2, 2024 @ 4:34 pm By JD Alois  |  

Top stablecoin issuer Tether will be working with Chainalysis in an effort to boost compliance and monitoring of any potential illicit activity. Over the years, Tether has been hit with claims of shoddy operations, and the company has worked to alleviate those concerns. This week,… Read More