On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions...Read More
On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions...Read More
It is evident that the coronavirus crisis is shaking things up on a global basis. Recent findings by Chainalysis further confirm how scammers aren’t paying enough attention to ensure their nefarious projects keep generating revenue. Many different factors influence the success of a cryptocurrency scam. Scammers Need to put in More Effort More often than...Read More
During a global pandemic such as the coronavirus, some people expect the use of Bitcoin to increase globally. So far, that has not been too apparent, albeit it seems that the way Bitcoin is used is undergoing some changes. Bitcoin has not been at the forefront of too many discussions lately. Bitcoin Isn’t Doing Terrible...Read More
During the last two weeks as cryptocurrency prices slid below long term foundational support, speculators assumed Plustoken scammers may be behind the dump. Blockchain intelligence firm Chainalysis published a report which claimed Plustoken coin sales might be dragging BTC prices down. Moreover, on December 19, Plustoken scammers moved 789,525 ETH ($101 million) from one address...Read More
It has been a while since an update on the PlusToken scam was provided. According to Chainalysis, this may be the reason why the Bitcoin price is dropping hard. It is evident that PlusToken has caused a lot of damage. PlusToken is on the Radar of Chainalysis Not only did investors in this project lose...Read More
On Monday, the blockchain surveillance company Chainalysis published an excerpt from the firm’s upcoming crime report that will publish in January. According to the Chainalysis research, the Ponzi scheme called Plustoken not only defrauded investors out of $3 billion but the scam “may also be driving down the price of bitcoin.” Also read: Mystery Surrounds...Read More
Blockchain analysis firms continue to gain more attention. In the case of Chainalysis, the company will now collaborate with Bitfinex to keep criminals at bay. It is crucial for any cryptocurrency exchange to ensure no illicit money streams pass through its order books. Chainalysis Tool Helps out Bitfinex That is often easier said than done,...Read More
This week, Chainalysis announced the completion of a full AML solution applied on the Bitfinex exchange. The blockchain analysis is becoming the next frontier of verification, as the Financial Action Task Force (FATF) rules start to be unrolled from the summer of 2020. Regulators Worldwide Start Looking at Blockchain Activity Directly Chainalysis remarks that institutions...Read More
Blockchain firm Chainalysis has revealed the deployment of a new alert feature, KYT, which detects suspicious cryptocurrency activities. The New York-based company launched a Know Your Transaction (KYT) tool to serve as a real-time anti-money laundering compliant solution which monitors transactions for top cryptocurrencies. The KYT is available for the 15 top cryptocurrencies, and it...Read More
Leading blockchain analysis firm Chainalysis has just revealed new tools to help cryptocurrency companies stay compliant with regulators. The firm’s existing “Know Your Transaction” (KYT) platform will now provide real-time alerts to companies using it.The alerts will give the company accepting payment with a reading of how likely Chainalysis deems to the funds to have...Read More
