Chainalysis announced that they have launched a new cryptocurrency program to manage and store cryptocurrencies seized as a result of illegal activities. This program, announced on November 12, came after the US seized $ 1 million in Bitcoin last week.
Blockchain analytics firm Chainalysis has launched a new cryptocurrency program to find a solution to the problem of how to store and distribute digital assets captured in illegal practices. Chainalysis stated that law enforcement should keep illegally seized digital assets until they are legal.
Details of the program
Chainalysis states in the announcement that cryptocurrencies seized illegally should be kept by law enforcement until they are legal. However, it was stated that government agencies and some professional companies need a safe way to store and sell seized cryptocurrencies. Therefore, it was stated that such a program was necessary.
Chainalysis has announced that they will partner with Asset Reality to run this program. With this cooperation, Chainalysis will support Asset Reality on issues such as how to sell cryptocurrencies seized to customers, and how employees should receive training on crypto money.
Taking the words of Chainalysis CRO Jason Bonds, Zdnet said that Bonds said that with the widespread use of crypto currencies, the rate of use of these currencies by both good and bad people will increase. Bonds also said that blockchain exists to build trust, which could be a good service for detecting illegal activities.
In the article, it was emphasized that Chainalysis helped law enforcement officers during the investigation and also helped investigations into illegal activities in North Korea.