Blockchain analytics
New York state ramps up blockchain monitoring to enforce sanctions
New York state’s efforts to enforce sanctions against Russia have ramped up a gear with the Department of Financial Services, or DFS, expediting the procurement of additional blockchain analytics technology. According to a statement released Wednesday, the department will use the technology to help detect exposure to Russian individuals and entities subject to federal sanctions, by the virtual currency businesses licensed by the department. NY Gov. Kathy Hochul issued an executive order Feb. 27 directing state agencies to divest from Russian institutions and companies, as well as entities that provide them with support. She said: “New York is proudly home to the nation’s largest Ukrainian population and we will use our technological assets to protect our people and show Russia that w...
4% of crypto whales are criminals and they have $25B between them: Chainalysis
Chainalysis data shows that 4068 criminal whales (roughly 4% of all whales) are hodling more than $25 billion worth of cryptocurrency between them. The blockchain analytics firm defines criminal whales as any private wallet that holds more than $1 million worth of crypto with over 10% of the funds received from illicit addresses tied to activity such as scams, fraud and malware. The data is from the “Criminal Balances” section of the Crypto Crime Report that explores criminal activity on the blockchain over 2021 and early 2022. The wide-ranging report also covers topics such as Ransomware, Malware, Darknet markets and NFT related crime. “Overall, Chainalysis has identified 4,068 criminal whales holding over $25 billion worth of cryptocurrency. Criminal whales represent 3.7% of all cryptocu...
