Chainalysis unveils crypto crime incident response program

Blockchain analytics firm Chainalysis has launched a Crypto Incident Response Program.

The program is meant to assist organizations that have been targeted by hackers and ransomware to recover their funds.

Via the program, targeted organizations will get access to a 24/7 hotline.

Once contact has been made between the victim organization and the response unit, Chainalysis will assign a team of experts “to work around the clock and side-by-side” with them, and, if need be, help liaise with law enforcement.

According to Chainalysis, between 2019 and 2020 there was a quintupling in the total value looted by ransomware attackers, from $144 million to $728 million.

The total value looted by hackers rose to an all-time high of over $3 billion last year having been well under a billion during 2020. The total number of hacks rose from 117 in 2020 to 251 in 2021.

The total number of hacks this year to date (YTD) currently sits at 64, while the total value looted is a little under $2 billion.