Chainalysis Acquires Blockchain Data and Web3 App Infrastructure Provider Transpose

Chainalysis has officially revealed the acquisition of Transpose, a firm specializing in blockchain data and infrastructure. Transpose’s services are aimed at supporting the creation of web3 applications. Transpose’s customers have the ability to generate responsive user experiences, develop high-functionality wallet applications, scrutinize financial activity, meet tax and compliance obligations, and perform a variety of other tasks.

According to the analysis carried out by Chainalysis, the exchange of value is being revolutionized by blockchain technology, in the same way that the exchange of information was transformed by the internet. Their goal is to achieve a future where the blockchain is the only medium for transferring value and every business operates as a blockchain-based business. Currently, enterprises and software developers are trying to replace intricate data systems that rely on unreliable node services or inadequate data providers. Users are looking for APIs that are flexible, reliable and efficient to provide seamless access to accurate historical and real-time blockchain data.

The use of Transpose’s technology and team will help meet demand, accelerate our roadmap and strengthen our reputation as the most reliable, scalable and easy-to-use provider of web3 data and applications in the industry. We are pleased to announce our partnership with Transpose, and look forward to working together with our shared customers and partners to improve the efficiency and transparency of the financial system. According to a clear report from Chainalysis, South Korea’s Ministry of Foreign Affairs (MOFA) has imposed sanctions on Kimsuky, a North Korean hacking group, and has designated two cryptocurrency addresses as the group’s identifiers on June 1, 2023.

In addition, MOFA worked with South Korea’s National Intelligence Service (NIS) and National Police Agency (NPA), along with the Federal Bureau of Investigations (FBI), Department of State and National Security Agency (NSA) of the United States to release a collective advisory on North Korean cyber espionage activities. Kimsuky is a cyberespionage group that operates outside North Korea and has been engaged in such activities since 2012. The group is known to have stolen technologies related to satellite and weapons development, as well as foreign policy intelligence, on behalf of the North Korean. administration.

Kimsuky’s espionage efforts have focused on various entities, including but not limited to government agencies, particularly the South Korean government, political groups, and academic establishments. Furthermore, Kimsuky has been reported to have used various tactics such as fraud, theft, cryptojacking, and sextortion against non-combatants, presumably with the aim of self-funding. On several occasions, Kimsuky has used cryptocurrency as a means of concealing his transactions.

According to the statement of Greg Lesnewich, who is a senior threat researcher at Proofpoint, the cryptocurrency operations of Kimsuky are indicative of the cultural principle of “juche” in North Korea, which emphasizes self-reliance. The operators engaged in cryptocurrency mining for the purpose of generating and concealing funds. They also provided semi-legitimate services in exchange for Bitcoin or Ethereum payments. In addition, they occasionally conducted malicious activities, such as sextortion campaigns, targeting cryptocurrency entities and individuals.
Joseph Dobson, who serves as principal analyst for Mandiant at Google Cloud, notes that Kimsuky relies heavily on deposited cryptocurrency to fund its aggressive cyber campaigns. This is achieved through various means such as token phishing, cryptojacking and opportunistically seizing wallets.