Tagged: chainalysis

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

April 30, 2024 @ 3:58 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) recently issued a key notice, warning consumers of scammers impersonating FTC staff members in “attempts to steal money from innocent victims.” Blockchain firm Chainalysis has analyzed these developments in a comprehensive update. According to the FTC, these scammers typically “fabricate… Read More

April 22, 2024 @ 8:54 am By Omar Faridi  |  

On April 17, 2024, London’s Metropolitan Police had announced the disruption of LabHost, which is described in an update by Chainalysis as a “notorious” phishing-as-a-service (PhaaS) provider that enabled cybercriminals to “breach the bank accounts of victims around the world, following an operation conducted in… Read More

April 9, 2024 @ 9:10 am By Omar Faridi  |  

After 29 years, including more than three as Chief of the IRS-CI, Jim Lee says his last day of government service was March 31. Former IRS-CI Chief Jim Lee notes in a blog post that he’s pleased to share that he has joined Chainalysis where… Read More

April 5, 2024 @ 10:55 am By Omar Faridi  |  

Chainalysis is marking its 10th year of operations this spring, and they’re reflecting on how far they’ve come with their clients and how the’re continuing to evolve with the rapidly changing ecosystem. Chainalysis notes in a blog post that the market revival we are experiencing… Read More

March 23, 2024 @ 5:56 pm By Omar Faridi  |  

For most of the research that Chainalysis release in their annual Crypto Crime Report, the data tells “a clear story.” For instance, funds sent to ransomware operators, darknet markets, or sanctioned entities can be measured and trends “can be analyzed with Chainalysis labeling and data.”… Read More