Tagged: blockchain security

Former FBI Official Gurvais Grigg Comments on Why He Joined Blockchain Analysis Firm Chainalysis

Gurvais Grigg recently revealed why he joined blockchain analysis firm Chainalysis as its Global Public Sector CTO after working for over two decades at the Federal Bureau of Investigation (FBI), most recently as Assistant Director of the FBI Laboratory. In his new role, Grigg will… Read More

Notabene Partners Blockchain Analysis Firm Chainalysis to Bring Scalable Travel Rule Solution to Crypto Businesses

Notabene has teamed up with blockchain analysis firm Chainalysis to bring a “scalable” Travel Rule solution to cryptocurrency-focused businesses. Crypto-related businesses are working consistently to meet updated regulatory guidelines involving counterparty risk. According to a blog post by Chainalysis, the most notable of these requirements… Read More

CipherTrace Explains how its Traveler Product Assists VASPs with Following Global Travel Rule Regulations

Blockchain security firm CipherTrace notes that its Traveler product has been developed to assist virtual asset service providers or VASPs with adhering to the international “Travel Rule” regulations by securely sharing digital currency transaction details with other “vetted” VASPs. CipherTrace explains that its tools are… Read More

$100,000 in Cash or LINK Tokens will be Provided for Responsible Disclosure of Critical Vulnerabilities in Chainlink Codebase

Decentralized Oracle network developer Chainlink (LINK) has expanded its software bug bounty program. Chainlink notes that in order to ensure their decentralized Oracle Network continues to offer smart contracts access to a secure and reliable external data source, they are pleased to confirm that the… Read More

Quantum Computers May Steal Bitcoin by Deriving Private Keys once Advanced Enough in 5-30 Years, Experts Claim

John Smith, who has been regularly keeping up with computer science, quantum computing, and cryptocurrency-related developments, claims that the “future of crypto” is quantum-resistant, meaning we must build systems that can protect themselves against the potential attack from quantum computers (QCs) when they become powerful… Read More

Crypto Transactions have AML Capabilities that are Almost Impossible to Replicate in Traditional Investigations: CipherTrace

Blockchain security firm CipherTrace notes that during her confirmation hearing on January 19, Dr. Janet Yellen, US President Joe Biden’s pick for Secretary of the Treasury, had said that “many” virtual currencies remain “a particular concern” when it comes to terrorism and criminal financing (and… Read More

Bitcoin related Crime is Declining, and Illicit Financial Activities Involving Cryptos Remain Small Part of Industry: Report

Blockchain analysis firm Chainalysis notes that 2020 was an “incredible” year for Bitcoin (BTC) and the larger cryptocurrency market. Despite the devastation and socioeconomic problems resulting from the global Covid-19 pandemic, Bitcoin, the flagship digital currency, managed to shatter its previous all-time highs. The Bitcoin… Read More

Blockchain Security Firm CipherTrace Clarifies how Virtual Asset Service Providers, Money Service Businesses are Categorized by Regulators

Blockchain security firm CipherTrace recently explained and discussed the differences between virtual asset service providers (VASPs), money service businesses (MSB), money transmitters, digital asset customers, and how they impact crypto-related compliance measures. CipherTrace noted that cryptocurrency, digital assets, convertible virtual currency, and other terms seem… Read More

FinCEN Proposes Rule Change for Unhosted Convertible Virtual Currency Wallets

On December 18, 2020, the Financial Crimes Enforcement Network (FinCEN) published a proposed rule change for digital currency transactions with “unhosted” wallets. Under the newly proposed change, banking institutions, and money services businesses (MSBs) may be required to verify customers’ identities and turn in reports… Read More

Over $8 Million in Cryptocurrency Tokens Stolen from Nexus Mutual Founder Hugh Karp’s Personal Account: Report

On December 14, 2020 (at 09:40 am UTC), CertiK Skynet discovered a very large transaction from Hugh Karp, Founder of Nexus Mutual, a “people powered” alternative to insurance built on Ethereum, which transferred 370,000 NXM tokens to an unknown cryptocurrency account. The total value of… Read More

Only 22% of Banking Professionals and Financial Investigators Feel “Confident” Identifying Crypto related Transfers: Survey

Blockchain security firm CipherTrace reports that only 22% of banking industry professionals and financial investigators “feel confident” in their ability to accurately identify cryptocurrency -related payments. In a December 9, 2020, CipherTrace-ACFCS Webinar on “How Cryptocurrency Intelligence Tipped the Scales in 2020 Sanctions Evasion,” more… Read More

Chainalysis Teams Up with Japanese System Integrators Hitachi and SB C&S to Enhance its Compliance Network

Blockchain analysis firm Chainalysis has teamed up with top Japanese system integrators in order to boost its compliance network. Chainalysis announced on December 7, 2020, that it has partnered with Japan-based system integrators Hitachi and SB C&S. These firms are the latest to join Chainalysis’… Read More

Cryptocurrency Users’ Funds are Being Stolen via Malicious Chrome Browser Extension Phishing Attack: Report

Blockchain security firm Ciphertrace noted in a blog post published on December 2, 2020 that within the last 24 hours, the company noticed a significant uptick of alerts and comments within the online digital currency community of users’ funds having been stolen through a malicious… Read More

Number of Virtual Asset Transactions Triggering Travel Rule Thresholds Could Increase Significantly Under FinCEN’s New Rules: Report

Blockchain security firm Ciphertrace has noted that FinCEN’s suggested rule change for the Travel Rule Threshold would “more than double” compliance events for US-based virtual asset service providers or VASPs. CipherTrace confirms that FinCEN had released a proposed rule change (in October 2020). The recommendation… Read More

Chainalysis Expands Washington DC Operations, Hires New Legal Affairs Chief, Other Key Appointments, Reports Signficant Revenue Growth

Washington DC Capitol

Chainalysis, a leading blockchain analysis firm, has revealed that it managed to grow its revenue 100% year-over-year. The New York-based firm says it’s now preparing for an expected surge in private sector business. Chainalysis claims that it has managed to grow its customer base by… Read More

1inch, a Non-Custodial Crypto Exchange Aggregator, Partners Hacken to Improve Platform Security

1inch.exchange, a decentralized or non-custodial crypto exchange (DEX) aggregator, notes that they’re always working on making improvements to the overall security of their service. The 1inch team confirmed that they’ve teamed up with Hacken, an established provider of cybersecurity solutions. The 1inch team stated: “We… Read More

Blockchain Analysis Firm Chainalysis to Establish New Singapore and Tokyo Offices as Part of Global Expansion Plans

Chainalysis, a leading blockchain analysis firm, has revealed that it will establish two new offices in Singapore and Tokyo. The company stated that it remains focused on fully supporting local crypto and blockchain companies. It’s also helping government agencies and traditional financial institutions with monitoring… Read More

FATF List of Cryptocurrency Service Red Flags to Help Standardize how Jurisdictions Track Illicit Transactions, Chainalysis Says

The Financial Action Task Force (FATF) recently published a document for regulatory authorities and enforcement agencies. The FATF listed several different “red flags” in cryptocurrency transfers and service user profiles that may indicate that the entities involved in the transactions are engaging in money laundering,… Read More

Russia and Ukraine have “Disproportionately High” Cryptocurrency Usage with Many Locals Shifting Financial Activity to Digital Assets: Report

Eastern Europe has the fourth-largest cryptocurrency market in terms of total transaction volume, according to Chainalysis’ research. Ukraine and Russia, which are also part of the Eastern European region, have been ranked quite high on Chainalysis’ Global Crypto Adoption Index. It takes into consideration a… Read More

Blockchain Platform XinFin Integrates Chainlink (LINK) which Offers Secure Decentralized Oracles for Reliable Financial Data

The developers of the XinFin [XDC] Network, an open-source, hybrid blockchain platform, have announced that they’ll be integrating their platform with Chainlink (LINK) Oracles in order to power several new trade finance use cases. Chainlink offers a market-leading decentralized oracle network. The platform has grown… Read More

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