Chainalysis unveils a 24/7 hotline for victims of cryptocurrency crimes

2022-6-23 08:40

The macroeconomic-fueled crypto market downturn has taken the central stage attention since Q1 2022. However, it is not the only area of concern.

CipherTrace recently reported that the spontaneous growth in the legitimate use of cryptocurrencies dwarfed its use for illicit activities. It further stated that illicit use constituted just 0.15% of cryptocurrency transaction volume in 2021.

Despite this reduction in overall transaction volume, blockchain data platform Chainalysis revealed that some illicit activities have been on the rise. In response, it announced its “crypto incident response program”, a 24/7 hotline service accessible by cyber attacks victims.

Crypto incident report service

In a June 22 post on its website, Chainalysis stated that illicit activities such as theft of funds through hacks and ransomware are on the rise. It noted this as a security risk that might expose users to scams and lead to a lack of trust in the ecosystem.

As detailed in the post:

“the rapid response service is for organizations who have been targets of a cyber attack or unauthorized network intrusion that involves a cryptocurrency theft or demand.”

The response service will function through a 24/7 hotline where victims of cyber attacks can access immediate support.

The victims will be sent to a team of investigative experts to help trace the stolen funds. However, if the funds have been transferred, the team will liaise with law enforcement and asset recovery counsel for its recovery.

Hacks, ransomware at an all-time high

An analysis in the website post showed that ransomware attackers netted $731 million in 2021. Kim Grauer, Chainalysis’ head of research, also stated that the average ransomware payment jumped 34% in 2021 as criminals went after bigger targets.

2022 has witnessed several hacks and exploitation, resulting in loss of funds. According to crypto security firm Immunefi, hackers have netted over $1.2 billion in Q1 2022 instead of the $154 million lost to hacks in Q1 2021.

In addition, most of the hacks have been recorded on cross-bridge platforms. Wormhole and Ronin alone make up for the lion’s share of crypto losses occurring in Q1 2022.

The post Chainalysis unveils a 24/7 hotline for victims of cryptocurrency crimes appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034358 (-100%)

cryptocurrency victims chainalysis crimes unveils hotline 2022

cryptocurrency victims → Результатов: 126


Фото:

Cryptocurrency Mining Firm Founder Swindles $35 Million of Investor Funds after Citing Low Profitability and Rising Expenses

The founder of a Vietnamese cryptocurrency firm has allegedly fled after swindling investors to the tune of millions, as reported by VNExpress on July 29, 2018. Millions Stolen Investors and board members of the Ho Chi Minh City-based mining company, Sky Mining, are claiming to be victims of a fraud case after the company’s founder, Le Minh Tam, went missing.

2018-7-31 09:00


Фото:

Cryptocurrency Mining Firm Founder Swindles $35 Million of Investor Funds After Citing Low Profitability and Rising Expenses

The founder of a Vietnamese cryptocurrency firm has allegedly fled after swindling investors to the tune of millions, as reported by VNExpress on July 29, 2018. Millions Stolen Investors and board members of the Ho Chi Minh City-based mining company, Sky Mining, are claiming to be victims of a fraud case after the company’s founder, Le Minh Tam, went missing.

2018-7-31 09:00


Фото:

Twitter locks your account if you change your display name to Elon Musk

In an effort to curb the cryptocurrency “giveaway” scam epidemic, Twitter will lock your account if you are not verified and change you display name to Elon Musk. Crypto-scammers and blockchain bandits are on the rise, and they will try anything to swindle unwitting victims into sending or wiring them funds – including pretending to be Musk himself.

2018-7-25 14:52


Indian Bitcoin Ponzi Kingpin Amit Bhardwaj, Offers Compensation To Victims

Amit Bhardwaj, the Ponzi scheme kingpin accused of scamming thousands by promising outlandish returns on investments in Bitcoins, has offered to pay back investors their initial investments in Indian rupees even as one of the country’s largest cryptocurrency exchanges, Zebpay, has been roped in to help with the investigation. What Was Bharadwaj's Ponzi Scheme? Over […]

2018-7-20 13:06


Renowned Cryptocurrency Exchange Service Makes Million Dollar Donation to Japanese Flood Victims

Established cryptocurrency exchange service Binance is showing some love to the victims of the disastrous flood by donating $1 million to aid them in their dire situation. Binance CEO Changpeng Zhao took to Twitter to make his heartwarming announcement stating that they will be donating the said amount in either Binance Coin, Bitcoin or Japanese […] Renowned Cryptocurrency Exchange Service Makes Million Dollar Donation to Japanese Flood Victims was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-10 14:59