Louisa Crawford
November 1, 2024 00:25
AlixPartners has partnered with Chainalytic to leverage advanced blockchain technology to enhance its forensic investigation and compliance services for the digital asset sector.
AlixPartners has announced a strategic partnership with Chainalytic to strengthen its digital asset support services, particularly in the areas of forensic investigation and risk compliance, Chainalytic said. This collaboration comes in response to increasingly complex cryptocurrency fraud and an evolving regulatory environment, which requires robust solutions for forensic investigations and compliance assessments.
Strengthening forensic capabilities
As part of this partnership, AlixPartners will join the Chainalytic Services Provider program to strengthen its litigation support capabilities within the global digital asset industry. This includes cryptocurrency tracking, forensics, compliance assessments, data analysis, and expert witness testimony. Through this collaboration, AlixPartners experts will be trained as Chainalytic Certified Investigators, expanding the range of services available to Chainalytic customers.
Meet industry requirements
Cryptocurrency exchanges, cryptocurrency-based businesses, financial institutions, and government agencies are increasingly looking for innovative solutions to track cryptocurrency transactions for investigative and compliance purposes. By integrating Chainalysis’ proprietary blockchain data monitoring technology, AlixPartners aims to improve the ability to identify and track various digital assets and assess their associated risk levels.
leadership insight
David White, Partner and Managing Director of AlixPartners, emphasized the importance of the partnership, emphasizing their commitment to improving their clients’ ability to investigate and respond to cryptocurrency-related legal issues. Shannon Hughes, Head of Business Development and Partnerships at Chainalytic, emphasized that this collaboration is an important milestone in building trust in blockchain technology.
Fighting Cryptocurrency Crime
The rationale behind this partnership is that cryptocurrency fraud is intensifying in parallel with the increase in cryptocurrency ownership. According to Chainalysis’ 2024 Cryptocurrency Crime Report, the size of cryptocurrency-based illegal transactions last year amounted to at least $24.2 billion. The goal of this collaboration is to mitigate these activities and build trust in the future of finance.
Introduction to Alix Partners
AlixPartners is a global consulting firm specializing in solving complex business challenges. Founded in 1981 and headquartered in New York, the company provides expertise in areas such as forensic investigations and risk compliance in more than 20 cities around the world.
Introduction to Chainalysis
Chainalytic is a leading blockchain data platform that connects the movement of digital assets to real-world services. This helps organizations track illicit activities, manage risk exposure, and develop market solutions, with a focus on building trust in blockchain technology.
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