Chainalysis Raises $1.6M, Partners with Europol Following Hospital Ransom Fiasco
Cyber crime startup Chainalysis has raised $1.6 million USD, while announcing collaboration with Europol following an uptick in Bitcoin related ransomware attacks, which included including Hollywood Presbyterian Medical Center’s recent $17,000 USD bitcoin payout. Chainalysis Partners with Europol. While a 40-bitcoin ($17,000 USD) ransom payout made its....
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Chainalysis signed an agreement with Europol on Friday that paves the way for the European law enforcement agency to use the New York-based company’s blockchain analytics tools to investigate criminals who use Bitcoin. The deal between Europol and Chainalysis comes just days after news broke about a high-profile ransomware attack against Hollywood Presbyterian Medical Center. The attacker froze the hospital’s computer systems for 10 days and demanded 40 bitcoins, about $17,000, to restore service. The brazen attack and the hospital’s decision to pay the ransom has renewed the debate about....
Blockchain startup Chainalysis has signed a memorandum of understanding with Europol’s European Cybercrime Centre (EC3) that will see the firms collaborating on efforts to fight online crime. The news comes as the firm closes a $1.6m seed funding round led by Point Nine Capital, with Techstars, Digital Currency Group, Funders Club and Converge VP also investing. Chainalysis, which is an official investigator for the creditors of collapsed bitcoin exchange Mt Gox, says the memorandum it has signed with Europol promotes collaboration and information sharing. The company suggested that the....
New York-Based Chainalysis Inc., has signed a joint memorandum with Europol’s European Cybercrime Centre (EC3) to help battle online criminal activity. The partnership coincides with the company receiving a $1.6 million USD seed fund from investors. Chainalysis was founded in 2014 by Jonathan Levin, Jan Moller, and Michael Gronager with the goal of “[spotting] connections between digital identities.” In the press release, the company says it aims to help track this data on the blockchain.
Ransomware has been on the rise as of late, and it is a cyber security threat a lot of businesses and government services are taking seriously. According to Chainalysis, the blockchain monitoring company, more ransomware-related arrests from law enforcement are on the horizon. Can Companies Like Chainalysis Curb Ransomware and Cyber Crime? Cybercriminals....
In a February 17 letter, Hollywood Presbyterian Medical Center President & CEO Allen Stefanek said, “…the amount of Bitcoins requested was 40 Bitcoins, equivalent to approximately $17,000.” This is the number of bitcoins that the HPMC transferred to a hacker or hackers in exchange for the decryption key to the malware locking them out of their IT systems. The hospital’s network was under attack for 11 days (February 5-15 ) before Stefanek paid the ransom. While headlines jested about a hospital staff reverting back to pre-1990s procedures when paper and pen were the data medium of the....