Chainalysis Joins NCFTA, Enabling Blockchain Analysis to Combat Cybercrime

Chainalysis, the blockchain data platform, announced that it has joined the National Cyber-Forensics and Training Alliance (NCFTA), a nonprofit corporation focused on “identifying, validating, mitigating, and neutralizing cyber-crime threats.”

Chainalysis’ data platform “equips the alliance with the same investigative tools that have been used to help solve some of the world’s most high-profile cyber criminal cases and grow consumer access to cryptocurrency safely.”

The NCFTA was established in 2002 “to enable the responsible sharing of information and subject matter expertise with partners from private sector industries, law enforcement, and academia.”

Its goal is “to develop and share threat intelligence as part of the international effort to combat and defeat cybercrime.” NCFTA’s initiatives have “helped prevent over $2 billion in potential losses and launch thousands of criminal and civil investigations, which have led to over a thousand arrests.”

Chainalysis has “a long history of supporting government agencies, law enforcement officials, and private sector organizations.” Their data platform and team of experts have “helped on cases involving child abuse material, darknet markets, ransomware gangs, North Korean hacking, and more, leading to the seizure of billions of dollars worth of cryptocurrencies.”

Chainalysis’ addition to the impressive roster of members “brings their blockchain analysis tools, expert investigations team, and proprietary technology to NCFTA.” Chainalysis staff will work side-by-side “on ongoing investigations with alliance members and staff in New York City, Pittsburgh, and Los Angeles.”

Further, Chainalysis’ extensive blockchain data “means that NCFTA’s collective efforts to share information and best practices will take into account the latest trends in cryptocurrency, keeping NCFTA and its members on the leading edge of blockchain technology.”

Matt LaVigna, President and CEO of the NCFTA, said:

“Over the past several years, we’ve observed an increase in cybercriminal activity with a crypto nexus, ranging from hacking to ransomware. With Chainalysis, investigators can follow the money on the blockchain, enabling them to map a criminal’s financial network and reduce the time to insight. Increasing the level of crypto-literacy and blockchain capabilities will allow investigators to keep pace with the growth of digital asset adoption.”

Erin Plante, Vice President of Investigations at Chainalysis, remarked:

“NCFTA is a force multiplier in our work across the industry to build trust in blockchains. Today’s announcement will further that work by enabling NCFTA, it’s members, and Chainalysis to better fight cyber-crime together with the joining of their shared expertise and collaborative approach to solving complex cases and making cryptocurrency safer for people around the world.”

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