Tagged: blockchain analysis

November 21, 2023 @ 8:31 am By Omar Faridi  |  

On 18 November 2023, Kronos Research announced, via social media platform X, that unauthorized access to their API resulted in “a loss of approximately $26 million.” As noted in an update shared by CertiK, the incident “isn’t a typical private key compromise which often refers… Read More

November 4, 2023 @ 2:10 pm By Omar Faridi  |  

On November 3, 2023, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Russian national Ekaterina Zhdanova for using cryptocurrency “to launder money on behalf of Russian elites, ransomware groups, and other bad actors.” Chainalysis has examined the three Bitcoin… Read More

October 24, 2023 @ 11:18 pm By Omar Faridi  |  

North America is the largest cryptocurrency market, according to Chainalysis. Chainalysis reveals hat the region has “an estimated $1.2 trillion in value received on-chain between July 2022 and June 2023.” That total now “represents 24.4% of global transaction activity during the time period studied.” Most… Read More

October 8, 2023 @ 6:16 pm By Omar Faridi  |  

Hong Kong sees a larger share of transaction volume “coming in large institutional transactions of $10 million or more compared to other countries in the region — notably mainland China,” according to an update from Chainalysis. On the other end of the spectrum is South… Read More

July 29, 2023 @ 12:23 pm By Omar Faridi  |  

Deloitte and Chainalysis, the blockchain data platform, announced a new strategic alliance to help the organizations’ mutual clients address digital asset ecosystem compliance challenges. Through the alliance, Chainalysis’ and Deloitte’s shared clients will be able “to leverage Chainalysis’ proprietary blockchain dataset and analytics software and… Read More

July 13, 2023 @ 12:30 pm By Omar Faridi  |  

Brazil’s CBDC (or central bank digital currency) codebase could potentially freeze or even reduce funds. This, according to an analysis by a blockchain developer. According to a reports, a blockchain/DLT developer found certain functions that could potentially allow a centralized entity to freeze payments or… Read More

June 3, 2023 @ 9:53 pm By Omar Faridi  |  

Chainalysis is announcing that their firm has acquired Transpose, a blockchain data and infrastructure company that makes building applications using web3 data fast and simple. Transpose customers are able “to build snappy user experiences, power wallet applications, analyze financial activity, fulfill tax and compliance requirements,… Read More

August 3, 2022 @ 8:44 am By Omar Faridi  |  

Nomad – a bridge network allowing users to convert their assets across blockchains – was “exploited for over $156.4 million on August 1st.” Over 40 attackers utilized a code error that “allowed them to spoof transactions – draining Nomad’s Ethereum contract of most of its… Read More

May 12, 2022 @ 10:59 am By Omar Faridi  |  

The EY organization recently announced the production release of the third generation of EY Blockchain Analyzer: Reconciler. This updated version has been “migrated into blockchain.ey.com and is now available for the first time to EY non-audit clients and continues to support the EY Audit teams.”… Read More

March 24, 2022 @ 9:43 pm By Omar Faridi  |  

Chainalysis, the blockchain data platform, has announced a partnership with Cross River, a tech-driven financial services organization that offers core infrastructure and embedded financial solutions. Cross River is well-known for offering financial services to the Fintech and crypto sectors and will utilize Chainalysis tools “to… Read More

March 1, 2022 @ 11:15 am By Omar Faridi  |  

JPMorgan Chase (NYSE:JPM) announced on Monday (February 28, 2022) that it would be making an investment in TRM Labs, a blockchain analysis company, becoming the latest in a growing number of Wall Street giants who are expanding their footprint in the crypto and DLT  industry…. Read More

December 31, 2021 @ 8:54 am By Omar Faridi  |  

The Financial Action Task Force (FATF) has reported that there are just 58 out of 128 reporting jurisdictions advising that they have implemented any of the updated FATF standards, including the “travel rule.” This reportedly aligns with what CipherTrace has found through their extensive work… Read More

December 29, 2021 @ 6:04 am By Omar Faridi  |  

Chainalysis reveals that scams were once again the largest form of cryptocurrency-based crime by “transaction volume,” with more than $7.7 billion worth of crypto taken from unsuspecting victims globally. As noted by Chainalysis, that represents an increase of 81% compared to last year, a year… Read More

November 1, 2021 @ 10:24 am By Omar Faridi  |  

The inherent transparency of blockchains or distributed ledger tech (DLT) networks makes crypto-related investigations a lot easier for law enforcement agencies, when compared to financial investigations involving fiat currency. Blockchains or DLT networks serve as a permanent, publicly viewable ledger of almost all crypto transfers,… Read More

October 20, 2021 @ 7:52 am By Omar Faridi  |  

Chainalysis, the blockchain data platform, announced that it is expanding its partnership with NYDIG, a Bitcoin tech and financial services company, in order to carry out a purchase of BTC for the firm’s balance sheet. NYDIG played a key role in supporting Chainalysis to acquire… Read More

October 6, 2021 @ 9:28 pm By Omar Faridi  |  

Blockchain analysis firm Chainalysis reveals that it’s acquiring Excygent, a specialized professional services company that helps government agencies with cybercrime investigations, data processing, and lead generation. Chainalysis has collaborated with the Excygent team in order to support government agencies in investigating various high-profile cyber cases,… Read More

August 22, 2021 @ 12:38 pm By Omar Faridi  |  

On August 18, 2021, hackers managed to steal more than $90 million in over 69 different cryptocurrencies and digital tokens from Japan-based exchange Liquid Global. Liquid’s teams had “yet to release a postmortem detailing the attack vector used by the hacker,” the CipherTrace team noted… Read More

August 12, 2021 @ 8:07 am By Omar Faridi  |  

The Poly Network attacker has been returning funds after managing to pull of the largest DeFi theft ever. On, August 10, 2021, an unidentified attacker had managed to steal around $612 million worth of virtual currency from cross-chain DeFi protocol Poly Network, making this the… Read More

July 31, 2021 @ 2:29 pm By Omar Faridi  |  

Blockchain analysis firm Chainalysis has added advanced investigation and compliance support for six more widely-used ERC-20 tokens. All six crypto tokens are decentralized finance or DeFi related and five of them “specifically belong to top DeFi protocols,” the blockchain firm noted in a recent update…. Read More

July 25, 2021 @ 2:04 pm By Omar Faridi  |  

Compliant crypto firms realize or know what it takes to keep their platforms safe: They have to carry out KYC checks on clients, monitor transactions for counterparty risk, and submit suspicious activity reports or SARs when they see suspicious activity, Chainalysis notes in a blog… Read More