Chainalysis, a blockchain intelligence firm, has launched a “Crypto Incident Response Program” to help organizations recover their funds from hackers and ransomware. Organizations participating in the program will get access to a 24/7 hotline.
Chainalysis will assign a team of experts to work around the clock and side-by-side with them. This will only happen when contact has been made between the victim organization and the response unit. Organizations will also get help liaising with law enforcement.
Jarno Laatikainen, Manager of Investigations at Chainalysis, spearheaded the project. The Crypto Incident Response is especially for those that have been targeted by a cyber attack or unauthorized network intrusion that involves a crypto theft or demand. Chainalysis investigators have worked with numerous organizations in the public and private sectors on incidents involving cryptocurrency. The experts have helped solve some of the most high-profile cybercrime cases.
The firm highlighted that the new program streamlines the engagement process so that no time is wasted, irrespective of where in the world the victim is located. Chainalysis values time as an essence. It says immediately tracing and labeling funds in the Chainalysis platform can make much difference in preventing hackers from cashing out their ill-gotten gains.
Attacks, according to Chainalysis, are increasing in frequency and severity. It presents a significant barrier to building trust in cryptocurrency. Besides assisting organizations in their times of need, Chainalysis intends to bring bad actors to justice and demonstrate that crypto is not the asset class of anonymity and crime.