• Chainalysis, a crypto analytics startup, has acquired Excygent, a cybercrime forensics firm

  • Chainalysis, a blockchain analysis firm, announced the acquisition of Excygent, a cybercrime forensics firm, on Tuesday.

    Exycgent is a highly specialized technology firm that serves both public and private clients, and has even assisted US government agencies with cybercrime investigations.

    Chainalysis CEO Michael Gronager wrote in a blog post that Chainalysis and Excygent had previously collaborated on projects involving terrorism financing campaigns, the seizure of cryptocurrencies used in darknet marketplaces, and other illegal activity. The deal’s terms were not disclosed.

    “I’ve seen firsthand how the Excygent team brings deep expertise in cryptocurrency and cybercrime investigations through that work.” “I am delighted to welcome them to our expanding Investigations and Special Programs team, which provides government agencies with lead generation, blockchain data analysis, and investigative support,” Gronager wrote in the post.

    Chainalysis intends to use Excygent’s acquisition to further reduce cybercrime, particularly ransomware, and to promote “greater financial freedom with less risk,” according to the CEO in a statement.

    Chainalysis reached a $4.2 billion valuation this year with its most recent funding round, which brought in $100 million in June.

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