RATE Group | Chainalysis Rolls Out Real-Time Threat Detector for 15 Major Cryptos
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Chainalysis Rolls Out Real-Time Threat Detector for 15 Major Cryptos

25 Aug Chainalysis Rolls Out Real-Time Threat Detector for 15 Major Cryptos

Posted at 02:53h in Cryptocurrency News by

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Blockchain analytics firm Chainalysis has launched transaction alerts for suspicious exchanges of a range of cryptocurrencies.

In a post published on the firm’s blog on Aug. 22, Chainalysis announced the launch of alerts for suspicious cryptocurrency transactions in Chainalysis Know Your Transaction (KYT), the company’s real-time anti-money laundering compliance solution. The company also claims that this is the first compliance alerts solution available for 15 crypto assets.

Compliance risk mitigation

The tool is meant to help cryptocurrency exchanges and other financial institutions mitigate their regulatory and reputational risks. Michael Breu, chief compliance officer at major crypto exchange Gemini, is quoted in the announcement:

“As a New York Trust company we are required to monitor transactions on and off our platform. […] Tools like KYT alerts, which provide real time and ongoing blockchain analysis, coupled with Gemini’s own compliance policies, help us meet our…

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