Chainalysis, a blockchain forensic firm, is rolling out a new initiative designed to help those who suffered from ransomware attacks liaise with law enforcement and asset recovery counsel.
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The company said in a blog announcement that the hotline will work 24/7, but it remains unclear how exactly Chainalysis plans to help those who faced bad actors on the market.
“The Chainalysis Crypto Incident Response program streamlines the engagement process so that no time is wasted, no matter where in the world the victim is located,” the announcement says.
Earlier, Chainalysis estimated that scammers stole around $4.3 billion in cryptocurrencies in 2019. This figure was significantly higher than that recorded during 2017-2018, as those numbers did not even exceed $3 billion.
The move comes after Chainalysis launched a new tool called “Chainalysis Storyline” made to simplify smart contract transactions, including decentralized finance (DeFi) and non-fungible tokens (NFTs).
The new tool is expected to help crypto startups with complying anti-money laundering (AML) and know-your-customer (KYC) requirements.
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