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Victims of crypto cyber attacks: Chainalysis launches reporting hotline for companies

 


Blockchain analytics firm Chainalysis has launched a hotline to report hackers demanding cryptocurrency payments from platforms or businesses.


In a blog post on Wednesday , Chainalysis said its "Crypto Incident Response" hotline is available 24/7 for victims of "hacks, ransomware attacks, code exploits, or flash loan attacks" that either "demanded cryptocurrencies or be stolen". The company said it launched the service because crypto ransomware attacks could raise "national security concerns" and undermine trust in the crypto industry.


According to Chainalysis, hackers stole or ransomed over $3 billion in crypto assets in 251 attacks in 2021. Transactions to and from illegal addresses accounted for 0.15 percent of the total transaction volume on the market. When a report is received, a team works with the victim to trace the money and speak to local authorities.


"Attacks are becoming more frequent and more violent, and represent a significant obstacle to building trust in cryptocurrencies," said Chainalysis. "We're investing in this service not only to support organizations during tough times, but also to help bring bad actors to justice and show that crypto is not the asset class of anonymity and crime."


Today we’re launching Crypto Incident Response, a rapid response service for organizations that have been targeted by a cyber attack or unauthorized network intrusion that involves a #crypto theft or demand. Find out how it works: https://t.co/OypbSk344s


— Chainalysis (@chainalysis) June 22, 2022

Chainalysis has previously worked with US government agencies, combating high profile ransomware attacks and cyberattacks that threaten the country's infrastructure. In 2021, the analytics firm said it was investigating addresses linked to Russian company Suex . The company allegedly gave hackers access to cryptocurrencies transferred as payment for ransomware attacks. The Justice Department worked with Chainalysis to seize money from a ransomware operator allegedly targeting hospitals during the pandemic.

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