![Chainalysis Launches Cryptocurrency Felony Incident Response Program]( "Chainalysis Launches Crypto Crime Incident Response Program")
The blockchain tech analytics firm has created a 24-hour hotline for businesses that have fallen victim to cryptocurrency crimes such as ransomware attacks.
Blockchain Tech intelligence firm Chainalysis has launched a Cryptocurrency Incident Response Program to assist organizations that have been targeted by attackers and ransomware to recover their funds.
Targeted organizations that have opted for coverage from the unit will get access to a 24/7 hotline. Once contact has been made in the middle of the victim organization and the response unit, Chainalysis will assign a team of specialists “to work around the clock and side-by-side” with them, and, if need be, help liaise with law enforcement.
Chainalysis’s Manager of Investigations, Jarno Laatikainen, is credited with having spearheaded the project.
Chainalysis shares cryptocurrency felony figures
As reported by Chainalysis’s data, legitimate use of cryptocurrency is far outpacing criminal usage–just 0.15 percent of transactions a year ago involved illicit addresses–but cryptocurrency heists employing attackers or ransomware are at an all-time high.
In the middle of 2019 and 2020 there was a quintupling in the total value looted by ransomware attackers, from $144 Million to $728 million–a level that held steady throughout 2022.
In the meantime, the total value looted by attackers rose to an all-time high of over $3 Billion a year ago having been well under a Billion during 2020. The total number of hacks rose from 117 in 2020 to 251 in 2021.
It looks like we’re on track for another record year in 2022. The total number of hacks in the year to date (YTD) at present sits at 64, while the total value looted is a little under $2 billion.
The historic $622 million ronin bridge hack, which hit Axie Infinity developer Sky Mavis’s Ethereum sidechain, accounts for about a third of the total looted by attackers so far this year.
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