The firm said it was starting a 'Crypto Incident Response’ hotline to "help bring bad actors to justice and demonstrate that crypto is not the asset class of anonymity and crime.”
Blockchain analytics firm Chainalysis has launched a reporting hotline for incidents of hackers demanding cryptocurrency payments from platforms or companies.In a Wednesday blog post, Chainalysis said its ‘Crypto Incident Response’ hotline would operate 24/7 for victims of a “hack, ransomware attack, code exploit, or flash loan attack” in which “cryptocurrency funds are either demanded or stolen.” The company attributed the launch of the reporting service to crypto-related ransomware attacks presenting “national security concerns” as well as potentially undermining confidence in the crypto industry.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.
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