{"id":459168,"date":"2022-06-08T00:15:00","date_gmt":"2022-06-07T21:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chainalysis-exec-touts-blockchain-analysis-to-senate-homeland-security-committee\/"},"modified":"2022-06-08T00:15:00","modified_gmt":"2022-06-07T21:15:00","slug":"chainalysis-exec-touts-blockchain-analysis-to-senate-homeland-security-committee","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chainalysis-exec-touts-blockchain-analysis-to-senate-homeland-security-committee\/","title":{"rendered":"# Chainalysis exec touts blockchain analysis to Senate homeland security committee"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be6057ef3c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be6057ef3c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/chainalysis-exec-touts-blockchain-analysis-to-senate-homeland-security-committee\/#%E2%80%9D_Chainalysis_exec_touts_blockchain_analysis_to_Senate_homeland_security_committee_%E2%80%9C\" >&#8221; Chainalysis exec touts blockchain analysis to Senate homeland security committee &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Chainalysis_exec_touts_blockchain_analysis_to_Senate_homeland_security_committee_%E2%80%9C\"><\/span>&#8221; Chainalysis exec touts blockchain analysis to Senate homeland security committee &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNGY1YmQxYmQtMDUyOS00ZTE4LWE4ZjItNWY0OTE4Y2VmZTllLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The collection and processing of information was a major <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a> at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing titled, \u201cRising Threats: Ransomware Attacks and Ransom Payments Enabled by Cryptocurrency\u201d on Tuesday. The committee hosted a panel of private-sector experts who discussed the problem of ransomware attacks and the challenges of collecting and using the information necessary to fight them.\u00a0<\/p>\n<p>Committee chair Gary Peters of Michigan, who introduced the Strengthening American Cybersecurity Act in February, said the government lacks sufficient data even to understand the scope of the threat posed by ransomware attacks. Attackers almost exclusively ask for payment in cryptocurrency, he added.<\/p>\n<p>Several figures were trotted out to quantify the problem. Chainalysis head of cyber threat intelligence Jackie Burns Koven said the company had identified a record $712 million paid to attackers in 2021, with 74% of the money going to threat actors in Russia or with links to Russia. The average payment was $121,000, and the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n payment was $6,000. Attackers often use a Ransomware-as-a-Service business model.<\/p>\n<p><strong><em>Related:\u00a0Making crypto conventional by improving crypto crime investigations worldwide<\/em><\/strong><\/p>\n<p>Ransomware is a form of extortion, and it existed before cryptocurrency, Institute for Security and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> chief strategy officer Megan Stifel and Coveware CEO Bill Siegel said. Knowing what information to collect when an attack occurs and how to organize the information is a major challenge for law enforcement, Siegel added. <\/p>\n<p>Information collection often is \u201ca convoluted mess at the worst possible moment,\u201d committee member James Lankford of Oklahoma said. Multiple agencies demand overlapping but not identical data from victims of attack in its aftermath \u2014 and then, prosecution of the case could take years. Those factors, along with concerns that the attackers will not release an encryption key if law enforcement becomes involved, explain much of the hesitancy of victims to report attacks.<\/p>\n<p>Stifel suggested that designating a single agency to receive and triage data after an attack would improve information collection, especially if businesses established a relationship with that agency prior to the attack. <\/p>\n<p>Koven said blockchain analysis can provide \u201cimmediate insight into the network of wallet addresses and services (e.g., exchanges, mixers, etc.) that facilitate the illicit actor,\u201d in contract to the lengthy processes of traditional financial investigation. <\/p>\n<p>U.S. government sanctions imposed on ransomware actors and their facilitators are highly effective, Koven continued. She pointed to sanctions against Russia-based cryptocurrency exchange Garantex and trader Suex as examples. Money flows \u201cdrop to almost zero\u201d after sanctions, she said. In addition, blockchain analysis can track the rebranding of attackers, and Chainalysis has developed technology to track funds\u00a0through cryptocurrency mixers. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/chainalysis-exec-touts-blockchain-analysis-to-senate-homeland-security-committee\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Chainalysis exec touts blockchain analysis to Senate homeland security committee &#8220; The collection and processing of information was a major theme at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing titled, \u201cRising Threats: Ransomware Attacks and Ransom Payments Enabled by Cryptocurrency\u201d on Tuesday. The committee hosted a panel of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":459169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNGY1YmQxYmQtMDUyOS00ZTE4LWE4ZjItNWY0OTE4Y2VmZTllLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,76978,130072,117,70375,73240,70934,70289],"class_list":["post-459168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-cybercrime","tag-edcab","tag-business","tag-cybersecurity","tag-ransomware","tag-regulation","tag-senate"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/459168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=459168"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/459168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/459169"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=459168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=459168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=459168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}