Chainalysis will leverage its strength in data tools, software, and talents to help federal investigators and police forces probe into the illicit crypto economy.
The blockchain analytics firm launched Chainalysis Government Solutions, a subsidiary focused on helping US government agencies investigate crypto-related crimes. According to the firm’s latest research, 75% of public sector agencies worldwide are under-prepared in terms of tackling crypto incidents, demonstrating an increasing need for relevant resources and technologies made available to investigators.
Chainalysis polled 300 respondents across 183 public sector agencies in the United States and Canada as it tried to dive into crypto investigations by the public sector. The report found that the most commonly investigated crypto-related crimes center around scams, fraud, drugs, cybercrime, and ransomware.
On average, respondents rated their understanding of cryptocurrency at 58 – on a scale from 0 to 100 from not knowledgeable to extremely knowledgeable – crypto education is also needed within the public sector. Thus, better tools and relevant support are in shortage for employees of public agencies to monitor, track, and investigate crypto-related cases, the report concluded.
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