Chainalysis launches “real-time threat detector” for Bitcoin trades

posted 4 months ago
Blockchain analytics firm Chainalysis launched transaction alerts for suspicious Bitcoin trades. Chainalysis’ “Know Your Transaction” (KYT) is the company’s real-time anti-money laundering compliance solution. The tool is meant to help cryptocurrency exchanges and other financial institutions mitigate their regulatory and reputational risks. Alerts are generated whenever a transfer involves a risky counterparty and crosses a value threshold.

Chainalysis product VP John Dempsey commented on the development: "As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices. [...] Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies."
Tags: bitcoin, blockchain, news