Chainalysis Launches 24x7 Hotline for Crypto Crime Victims
Crypto crime victims
Modified Date:- Published Date:-Categories: Cryptocurrency
The hotline will be independent of the analytics service and will not require victims to be existing Chainalysis customers. This rapid response strategy tends to turn up the heat on hackers, making it more difficult for them to cash out. The Chainalysis team also indicated a willingness on the part of the victims to liaise with law enforcement. Chainalysis Monitors Crypto Crime Earlier this month, Chainalysis published a report stating that DeFi projects were often the target of crypto attacks. Since the start of 2020, 97 percent of all crypto attacks have been directed at DeFi projects, with the largest DeFi hack on record – which caused Axi Infinity to lose over US$600 million – on 30 March this year. Happening. Chainalysis also announced in February that 'criminal whales' hold $25 billion in digital assets.Defined as a private wallet holding more than US$1 million worth of cryptocurrency, where a minimum of 10% of these funds are sourced from illegal addresses, criminal whales are commonly associated with fraud, malware and scams.
The Crypto Incident Response hotline will function 24/7, and victims will be paired with a team of investigators from Chainalysis who will trace and label the funds in Chainalysis' program.