Blockchain analytics firm Chainalysis launches a Crypto Incident Response Program to help crypto scam victims in real-time.
The new Chainalysis service is designed to support enterprises that have been breached by hackers and ask for ransoms in cryptocurrencies. In such cases, the company could easily reach out to Chainalsysis experts through a new 24/7 hotline to get help.
Not only the Chainalysis team will take swift action to obstruct the breach, but it will also minimize the losses and work to recover funds if already stolen.
According to a Chainalysis report, nearly $30 million in cryptocurrency was paid as ransomware in 2021. The on-chain analysis data further reveals the increased activities of cybercriminal administrators and ransomware operators despite mounting law enforcement pressures.
The number of incidences where skilled hackers manage to steal access to a company’s critical data or take control over their servers is growing globally. At the same time, the market for investigating such attacks is also expanding considerably, with an estimate of its value to grow to $10 billion by 2026. Chainalsysis’ new ‘Crypto Incident Response’ services mainly focused on tapping the tremendously growing cryptocurrency market where such incidents are frequent.
The new initiative by Chainlyais can help eliminate the threat actors through effective and timely intervention during any data breach or ransomware attack. Furthermore, it will provide an additional layer of protection to the firm explicitly dealing in cryptocurrencies.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.