Chainalysis Rolls out New Solutions to Help Firms Perform Blockchain Analysis

  • DOJ also assisted in seizing the Bitcoins by Chainalysis to identify and investigate the crypto wallets associated with Silk Road
  • Chainalysis also partnered with Wyoming’s Division of Banking and helped them combat money laundering

After the United States authorities leveraged Chainalysis to seize more than a million-dollar of Bitcoin, Chainalysis announced their new solutions to help public and private firms perform blockchain analysis. Following the latest programs and facilities, firms can now track, store, and sell crypto assets that are seized.

Seize of Bitcoins Associated with Silk Road

A week later, the United States authorities revealed that they leveraged Chainalysis, a Blockchain intelligence platform, for investigative assistance to seize more than a million dollars worth of Bitcoins as such Bitcoins were associated with the Silk Road. This first modern dark web black marketplace got offline in 2013.

According to the Department of Justice (DOJ), they were also assisted in seizing the Bitcoins by Chainalysis to identify and investigate the crypto wallets associated with Silk Road. As per the estimation of the department, Silk Road has generated around 6,00,000 Bitcoins for facilitating illegal drugs, weapons, and other evil goods.

How does Chainalysis is Helping the Cryptosphere?

It is observed that cryptocurrencies are getting mainstream day by day. As cryptocurrencies are getting popular several good actors are finding it to be helpful. Likely it is helping several bad actors too. However, Chainalysis has been dedicated to building trust in the cryptosphere. Chainalysis is allowing them to detect and investigate every illicit activity in the crypto space. According to Jason Bonds, the chief revenue officer at Chainalysis, the partnership with the government helps them successfully strike out several bad actors from the crypto space and recover the assets with the natural next step of realization.

Chainalysis Contributing its best to Mainstream Cryptocurrency

Recently Chainalysis mentioned that their number of consumers has risen by 65% every year, as public firms demand more blockchain surveillance technology. With increasing public demand, the firm has doubled its quarterly revenues during the third quarter of this year. They are selling their Bitcoin tracing technology and software to banks and brokers to monitor and link digital individuality to cryptocurrencies.

In September this year, Chainalysis also partnered with Wyoming’s Division of Banking and helped them combat money laundering, violation of sanctions, and several criminal activities. However, we can conclude that the team of Chainalysis, providing a range of quantitative data sources, which clarifies and presents the view of the cryptos and blockchain ecosystem.

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