Chainalysis Rolls Out Asset Realization Program for Law Enforcement Agents

Chainalysis, a blockchain intelligence platform, announced that it has rolled out an asset realization program to help government agencies and insolvency practitioners handle, store, realize, and monitor seized assets.

As law enforcement becomes more and more sophisticated in investigating illegal activity involving cryptocurrencies, including the recovery of illicit proceeds, the need for digital asset realization services is growing.

After discovering and investigating illicit cryptocurrency assets, law enforcement needs to seize and store them until they can be legally forfeited. As such, government agencies and insolvency practitioners need a safe way to track, store, and ultimately sell seized cryptocurrency assets for fiat currency.

“As cryptocurrencies become more mainstream, they will increasingly be used by good and bad actors alike,”said Jason Bonds, Chief Revenue Officer, Chainalysis. “Chainalysis is dedicated to building trust in digital assets, and that means helping to detect and investigate illicit activity. As our government partners become more successful in rooting out bad actors, assisting them with asset recovery and realization is a natural next step.”

Last week, US government agencies seize more than $1 Billion in cryptocurrency connected to infamous darknet market Silk Road, the first modern darknet market. The law enforcement agents used Chainalysis tools and investigative assistance to identify the largest cryptocurrency wallets with connections to Silk Road, enabling them to generate this lead from evidence on the blockchain.