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Chainalysis now owns cybercrime investigative firm Excygent

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The blockchain analytics firm Chainalysis acquired Excygent. The investigative company will help in the war against ransomware operations.

The value of the purchase hasn’t been disclosed in the announcement made by Chainalysis CEO Michael Gronager. The firm has already collaborated with Excygent to seize crypto connected with the darknet market Silk Road.

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“Following the flow of ransomware payments on the blockchain is instrumental for law enforcement to understand and dismantle ransomware operations.”

Staff members from Excygent will collaborate with Chainalysis’ Investigations and Special Programs team. They will join the fight against virtual currencies used to finance cybercrimes.

“Following the flow of ransomware payments on the blockchain is instrumental for law enforcement to understand and dismantle ransomware operations. As paradoxical as it seems, it can actually be beneficial to investigators when bad actors choose to use cryptocurrency when committing crimes.”

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Just a few days ago, Chainalysis published its second research about crypto.

Countries of Central and Southern Asia are among those that saw the largest increase in crypto transactions. 

In the period between July 2020 and June 2021, India, Pakistan, and Vietnam’s value of transactions amount to $572.5 billion. This is about 14% of the total value globally. India ranks second on the Global Crypto Adoption Index with more than $10 million.

“Two things stand out: One is that India and Vietnam’s markets are much larger than Pakistan’s. The other is that India has a much bigger share of activity taking place on DeFi (Decentralised Finance) platforms at 59 percent, versus 47 percent for Vietnam and 33 percent for Pakistan. All three regions grew substantially over the last year. Pakistan experienced the most growth at 711 percent, just ahead of India at 641 percent.”

This study is the second in a series of regional reports made by Chainalysis. The first paper, which was published in September, showed that Africa registered a 1,200% growth of its crypto market in the last year.


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