Cloudburst Technologies, the market leader in off-chain intelligence data for the digital asset market, has officially announced a strategic partnership with Chainalysis, the blockchain analysis company. Together, the companies will look to transform the role of deep and dark web data in cryptocurrency investigations. Delivering a robust new approach in regards to identifying and mitigating illicit online activities that remain associated with digital assets, the partnership will basically combine Cloudburst Technologies’ cutting-edge deep and dark web monitoring capabilities, tailored to crypto fraud and crafted using AI, with Chainalysis’ state-of-the-art blockchain analysis platform. Once that is done, the resulting technology will bet on traditional Web2 OSINT data to conceive comprehensive insights into the illicit ecosystem which exploits the relative pseudonymity of the blockchain technology. Talk about the whole value proposition on a slightly deeper level, we begin from the promise to conceive threat detection at scale, a promise which will be realized by the merging dark web intelligence with blockchain analytics so to offer a complete view of threat landscapes. This, on its part, will make it possible for organizations to stay ahead of up-and-coming threats and proactively safeguard their assets. Next up, we must get into those enhanced investigative capabilities that the given collaboration will bring forth. These capabilities translate to how investigators can seamlessly trace cryptocurrency transactions linked to illicit actor profiles from the dark web, thus providing critical leads for law enforcement and regulatory bodies.
“This partnership is a fundamental meeting of minds, creating a powerful union of on-chain and off-chain intelligence. It marks a significant leap forward for our partners across the globe,” said Evan Kohlmann, CEO of Cloudburst Technologies. “This partnership provides our clients with an unparalleled and seamless ability to discover hidden threats in the cyber landscape and trace their financial transactions on the blockchain.”
Moving on, the Cloudburst-Chainalysis partnership will further generate real-time alerts and reporting. Such a feature should allow organizations to continuously monitor their exposure to any threats or risk, and therefore, mitigate the same before things get out of hand. Building upon the, beneficiaries of this partnership will also receive a dedicated risk management and compliance-centered facility, a facility which will enable businesses, as well as financial institutions, to strengthen their compliance programs. From a practical standpoint, they can do so by utilizing the integrated solution to identify and prevent money laundering, fraud, and, other financial crimes.
“As cryptocurrency is starting to lay the foundation for a new financial infrastructure and becoming more ubiquitous, bad actors are increasingly using it as their financial rails for all types of illicit activity. This ranges from crypto-native crime like darknet market operations to previously fiat-based money laundering activity connected to activities like narcotics trafficking and fraud,” said Shannon Hughes, Senior Director and Head of Business Development and Partnerships at Chainalysis. “Our partnership with Cloudburst brings additional contextual analysis to help investigators identify suspicious flows across all crime types, providing valuable intelligence to investigators across government agencies and compliance groups.”
