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Cellebrite, Chainalysis Team Up Against Crypto Crime

Even as cryptocurrency investors deal with recent losses in value, public-sector interest in crypto continues to grow. That means more opportunities for fraud and more need for protections, the companies say.

A Bitcoin logo behind prison bars.
Cellebrite, a digital intelligence firm for the public and private sectors, has teamed with Chainalysis, a blockchain data platform, to make it harder for criminals to evade the law with cryptocurrencies.

The move comes as cryptocurrencies face increasing scrutiny not only for recent crashes in value but potential fraud and use in political campaigns.

Even universities are slowly getting into cryptocurrencies, with a handful of schools accepting the payment form for tuition.

According to a news release, this deal between Cellebrite and Chainalysis will use the transparency of blockchain to help analysts and criminal investigators find criminal cryptocurrency activity, including ransomware, money laundering and scams — all activities that are taking up more focus among law enforcement and compliance officers, according to the two companies.

More specifically, the new partnership will allow Cellebrite’s Digital Intelligence tools to get automated, real-time cryptocurrency data and insights from Chainalysis’ platform, helping investigators to identify and assess cryptocurrency risks and correlate that information with aspects of a related criminal case.

“Cryptocurrency, as any other financial instrument, has become a vehicle for funding crime and laundering money, and as its adoption increases, our customers must be equipped with cutting-edge solutions to identify this important category of digital evidence,” said Leeor Ben-Peretz, chief strategy officer at Cellebrite, in a public statement. “Providing our customers with an integrated cryptocurrency investigation solution will expedite their investigations through automation and help them seamlessly uncover a wider range of digital evidence within Cellebrite’s suite of Digital Intelligence solutions.”

The two companies said the first integrated tool from the partnership will become available in the third quarter of 2022.