Chainalysis has bought Excygent, a cybercrime investigation company

Together, they will study the use of cryptocurrencies in hacker attacks

07.10.2021 - 08:10

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What's new? Chainalysis, an analytical blockchain company, has acquired Excygent, a cybercrime investigation company, according to its press release. The amount of the transaction is not disclosed.

Material from Chainalysis

Why did Chainalysis buy Excygent? Chainalysis CEO Michael Gronager stated that Excygent’ employees will join the Chainalysis team to investigate the use of cryptocurrencies in cybercrimes. Previously, the parties had already cooperated in the course of studying the anonymous online darknet market Silk Road.

What else is known about Chainalysis? In 2020, the company participated in a cybercrime investigation of the NetWalker ransomware that had attacked software in US hospitals. At that time the hospitals paid $25 million in ransom.

The project has grown significantly over the past year, receiving support from both the US government and the private sector. In June, the company reached a valuation of $4,2 billion after another $100 million round of funding. It was led by the global investment company Coatue.

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