Not so, Levin told the stunned panel. He had found the money — and Chainalysis had found its calling, as a tool to crack crypto crime.
Levin then found patterns Chainalysis can identify are good for more than just tracking down crime after the fact. The startup launched a new tool designed to help money processors and traditional banks automatically comply with regulatory requirements as they increasingly open accounts for cryptocurrency companies, such as proving the source of a client’s funds.
That’s led a flurry of startups competing with Chainalysis. For example, London-based Elliptic raised $12 million, and California-based CipherTrace raised $18 million to provide insights into illicit activity on a number of blockchains. Meanwhile, blockchain technology firm Bitfury, a member of the inauguralBlockchain 50 list that’s already valued at more than $1 billion, quietly registered its Crystal security platform as a wholly-owned stand-alone entity based in the Netherlands.
they uncovered, but did they recover?
chainalysis Look into krakenfx and their holding of improper transfers (user error). Numerous people have said responses are vague, “based on value of asset, cannot invest our resources into recovering your funds”. No answer on what value/when they would consider.