Chainalysis Crypto Theft Hotline

The blockchain analytics company Chainalysis is starting a 24/7 hotline for cyber attack victims that have lost crypto funds.

The service will accept reports on incidents of hackers demanding crypto currency payments from organisations and companies. The company explains its decision to launch the reporting service  as due to “national security concerns” and issues with confidence in the crypto industry.

In a blog post, Chainalysis said its "Crypto Incident Response" service would operate 24/7 for victims of a “hack, ransomware attack, code exploit or flash loan attack” in which “crypto-currency funds are either demanded or stolen.” 

According to Chainalysis, hackers were responsible for the loss of more than $3 billion in crypto value through theft and ransom demands from 251 attacks in 2021, with transactions to and from illicit addresses representing 0.15% of total transaction volume in the space.

On receiving a report, the firm said a team would work with the victim to trace funds, if necessary, and potentially coordinate with local authorities. 

“Attacks are increasing in frequency and severity, presenting a significant barrier to building trust in crypto-currency, we’re investing in this service not just to assist organisations in their times of need, but also to help bring bad actors to justice and demonstrate that crypto is not the asset class of anonymity and crime,” said Chainalysis.

According to Kim Grauer, Chainalysis’ head of research, ransomware gangs are only getting more sophisticated. The average ransomware payment jumped 34% in 2021 as criminals went after bigger targets, and it shows no sign of slowing down.

Chainalysis has previously worked with authorities in the US government to address high-profile ransomware attacks and cyberattacks threatening the country's infrastructure. 

Chainanalysis:   Coin Telegraph:    Investing:    Binance:  Decrypt:    IQStock:  Tokensight:    Business Insider

You Might Also Read: 

Bitcoin Tanks:
 

« History Of Cyber Crime - Part 3 - Overview
Elon Musk Isn't Buying Twitter »

Infosecurity Europe
CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

ManageEngine

ManageEngine

As the IT management division of Zoho Corporation, ManageEngine prioritizes flexible solutions that work for all businesses, regardless of size or budget.

TÜV SÜD Academy UK

TÜV SÜD Academy UK

TÜV SÜD offers expert-led cybersecurity training to help organisations safeguard their operations and data.

ZenGRC

ZenGRC

ZenGRC (formerly Reciprocity) is a leader in the GRC SaaS landscape, offering robust and intuitive products designed to make compliance straightforward and efficient.

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

ZDL Group

ZDL Group

At ZDL (formerly ZeroDayLab) we take a comprehensive view of our clients cyber security risks and provide quality services to address those risk

NICE Systems

NICE Systems

NICE Systems provide software solutions to ensure compliance, fight financial crime, and safeguard people and assets.

PeCERT

PeCERT

PeCERT is the national Computer Emergency Response Team for Peru.

SecureBrain

SecureBrain

SecureBrain software and services help protect against Japanese-specific cybercrime and global internet security threats such as online fraud, phishing, drive-by downloads and malware attacks.

IT Security Jobs

IT Security Jobs

IT Security Jobs is a dedicated portal for everything related to IT professionals looking for IT Security jobs.

Sixgill

Sixgill

Sixgill, an IoT sensor platform company, builds the universal data service and smart process automation software allowing any organization to effectively govern its IoE assets.

ECOLUX

ECOLUX

ECOLUX is a professional IoT security service company committed to developing world-leading “IoT Lifecycle Security” technologies and products.

Fingent

Fingent

Fingent develops strategic software solutions for businesses across the globe in areas including Network Security, Infrastructure Security, Application Security, Risk and Compliance.

ValueMentor

ValueMentor

ValueMentor is a leading cyber security service provider in the Middle East. We enable clients to reduce risk by taking a strategic approach to cybersecurity.

Kocho

Kocho

Kocho (formerly TiG) is a provider of identity and access, cyber security, cloud transformation, and managed IT services.

XioGuard

XioGuard

XioGuard is a managed security service for 360-degree cybersecurity coverage, protecting the entire attack surface, increasing performance, reducing cost, and simplifying operations.

Cloud4C

Cloud4C

Cloud4C is a leading automation-driven, application focused cloud Managed Services Provider.

Third Point Ventures

Third Point Ventures

Third Point brings deep technical expertise, a strong network of relationships, and decades of investing experience to add value to our partners throughout their journey from idea to IPO and beyond.

American Technology Services (ATS)

American Technology Services (ATS)

American Technology Services provides unparalleled services in information technology to support small and mid-sized business. From top-level strategy, to managed services and infrastructure support.

SignPath

SignPath

SignPath provides leading-edge software and SaaS services that ensure code integrity from development to distribution.

Cyberscope

Cyberscope

Cyberscope is a Web3 security firm specializing in smart contract audits, crypto security audits, and blockchain vulnerability assessments.