Celer Bridge incident analysis. Tl;dr: In this piece we share critical… | by Coinbase | Sep, 2022

Tl;dr: In this piece we share critical lessons about the nature of the Celer Bridge compromise, attacker on-chain and off-chain techniques and tactics during the incident, as well as security tips for similar projects and users. Building a better crypto ecosystem means building a better, more equitable future for us all. That’s why we are investing in the larger community to make sure anyone who wants to participate in the cryptoeconomy can do so in a secure way. While the Celer bridge compromise does not directly affect Coinbase, we strongly…

Chainalysis introduces its Web3 based blockchain analysis tool: Blog

Chainalysis has introduced its new, Web3-native blockchain analysis tool called the Chainalysis Storyline, aiming to visualise smart contract extensions, as per a Chainalysis blog. As per the blog, decentralised finance (DeFi) and NFTs are two of the fastest-growing areas of cryptocurrency, with nearly half of crypto transactions involving a DeFi entity or an NFT or related types of smart contracts. Insights from the blog stated that over the course of 2021, hackers majorly targeted DeFi protocols for stealing cryptocurrency. DeFi protocols accounted for a growing share of all funds stolen…

DOGE price analysis hints at 30% drop despite Elon Musk’s Twitter bid

The brief Dogecoin (DOGE) price rally last week following Tesla CEO Elon Musk’s bid to buy Twitter appears to be fizzling out as DOGE closes the week over 8%.  DOGE’s price dropped to $0.142 on April 17, three days after peaking out locally at $0.149. The Dogecoin correction, albeit modest, raised its potential to trigger a classic bearish reversal pattern with an 85% success rate of reaching its downside target.  DOGE price eyes drop under $0.10 Dubbed head and shoulders (H&S), the pattern appears when the price forms three peaks in…

How could a new US law boost blockchain analysis?

2020 was a record year for ransomware payments ($692 million), and 2021 will probably be higher when all the data is in, Chainalysis recently reported. Moreover, with the outbreak of the Ukraine-Russia war, ransomware’s use as a geopolitical tool — not just a money grab — is expected to grow as well. But, a new U.S. law could stem this rising extortionist tide. United States President Joe Biden recently signed into law the Strengthening American Cybersecurity Act, or the Peters bill, requiring infrastructure firms to report to the government substantial…

How do crypto monitoring and blockchain analysis help avoid cryptocurrency fraud?

The primary functions of a blockchain analysis tools include address classification, providing investigation tools, monitoring transactions and risk analysis. The ability to link blockchain addresses to real-world identities is one of the most common uses of blockchain analysis software. Such tools use a variety of ways to identify real-world items on the blockchain. For instance, standard blockchain analysis techniques include web scraping and clustering algorithms. Clustering is the most prevalent method for identifying entities like exchanges, payment processors and wallets in analysis tools. Similarly, web scraping is utilized to analyze…

How Chainalysis helps in crypto monitoring and blockchain analysis?

Chainalysis has five different types of products that help in monitoring crypto assets. These are Chainalysis Business Data, Chainalysis KYT, Chainalysis Kryptos, Chainalysis Market Intel and Chainalysis Reactor. Chainalysis Business Data Chainalysis Business Data gives crypto companies an extra layer of customer intelligence, allowing them to understand their customers before and after leaving their platforms, customize product offerings and enhance customer experience. Furthermore, it allows companies to find the most avenues impacting the business and making data-driven decisions. Data is updated on a regular basis to ensure that relevant adjustments…