Crystal Blockchain is increasing the number of blockchains available to monitor in its platform.
AUSTIN, Texas, 26 April 2023 /PRNewswire/ — Blockchain analytics firm Crystal, whose solutions for crypto investigations and AML compliance is used by organizations worldwide, today announced that it has increased the number of blockchains available for monitoring on the platform to 335.
With the estimated number of blockchains currently in existence at approximately 1,000, Crystal has achieved a remarkable achievement of providing transparency to over 30% of the world’s chains.
What this means is that users of Crystal can now check transfers on even more blockchains, including Polkadot, Arbitrum, and Avalance, helping exchanges comply with evolving and complex anti-money laundering regulations.
“This is good news for teams working to detect suspicious activity on blockchains. By constantly adding to our huge catalog of blockchains available for monitoring in the simplest form, we give our customers the ability to check ownership of a direct counterparty address in transfer ,” said Marina Khaustova, CEO of Crystal.
“By enabling direct counterparty controls on our functionality, we will provide our users with access to unique intelligence gathered by our analysts and data providers, including information about sanctioned entities, illegal services and VASPs. This enhanced intelligence will play a huge role in identifying and tracking bad actors, not only helps crypto exchanges and firms, but also the wider financial industry to make the use of cryptocurrencies safer for everyone.”
The amount crypto funds stolen in 2021 jumped from 12.4 billion dollars to 16.6 billion dollars in 2022, according to Crystal’s latest CryptoDeFi Hacks & Scams Report.
Khaustova added: “Crime levels are increasing at alarming rates, and we make it our business to equip our clients with tools that are not only effective in detecting malicious activity, but also easy to implement and use. At the end of the day, it is important that we all act quickly and with impact to prevent crime from spiraling out of control.”
About Crystal
Crystal Blockchain Analytics provides an all-in-one blockchain analytics tool to clients in the digital asset industry, banking, law enforcement and regulatory sectors. We enable financial services and VASPs to meet global anti-money laundering requirements through crypto transaction monitoring and risk assessment. Customers in the law enforcement and regulatory spheres leverage our technology and data to track the movement of thousands of cryptocurrencies in real time to identify illicit flows. Our platform is available as a free demo, SaaS and API.
CrystalBlockchain.com
SOURCE Crystal Blockchain
