Chainalysis and Cellebrite to launch integrated solution
As a result of this cooperation, examiners, investigators, analysts, and compliance officers will be able to seamlessly identify illicit cryptocurrency-related activity in a single place as part of their familiar digital investigation workflows.
Chainalysis, the blockchain data platform, has partnered with digital intelligence solutions provider Cellebrite to enable customers to easily identify and assess criminal activity involving cryptocurrency during digital investigations to expedite their resolution.
The integrated solution, expected to be available in Q3 2022, will provide automated, efficient capabilities and knowledge to identify and assess cryptocurrency risks and correlate such information to additional elements of a related case.
Crypto as a vehicle for crime and laundering money
Leeor Ben-Peretz, Chief Strategy Officer at Cellebrite, said: “Cryptocurrency, as any other financial instrument, has become a vehicle for funding crime and laundering money, and as its adoption increases, our customers must be equipped with cutting-edge solutions to identify this important category of digital evidence. Providing our customers with an integrated cryptocurrency investigation solution will expedite their investigations through automation and help them seamlessly uncover a wider range of digital evidence within Cellebrite’s suite of Digital Intelligence solutions. We are happy to join forces with Chainalysis to further enhance our customers’ tools and knowledge, modernize investigations, and accelerate justice.”
Thomas Stanley, President and Chief Revenue Officer at Chainalysis, commented: “We are thrilled to partner with Cellebrite, the Digital Intelligence market leader, to expand our public and private sector customer reach and provide them access to Chainalysis’ solutions, training, and expertise. Together, Cellebrite and Chainalysis are committed to helping combat blockchain-related crime, improving trust and transparency in blockchains, and making cryptocurrency safer for all.”
As a result of this cooperation, examiners, investigators, analysts, and compliance officers will be able to seamlessly identify illicit cryptocurrency-related activity in a single place as part of their familiar digital investigation workflows.
Chainalysis valued at $8.6 billion
Chainalysis has recently raised $170 million at an $8.6 billion valuation. The Series F funding round saw the NYC-based ‘unicorn’ bringing the total amount it raised so far to $536 million.
Behind the latest cash injection was Singapore-based sovereign wealth fund GIC. Chainalysis has initially nabbed a $30 million investment in February 2019, led by venture firm Accel, a growth-stage venture capital firm, then raised a further $20 million from two major Japanese investors.
The new round gives Chainalysis fuel to aggressively deliver on its crypto investigation and compliance services. The company intends to use the fresh capital to hire for hundreds of new positions across all functions to continue its global expansion, as well as to deepen data advantage by covering more cryptocurrencies and focusing on emerging use cases like DeFi and NFTs.
