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Chainalysis launches first real-time alerts for suspicious cryptocurrency transactions

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Chainalysis launches first real-time alerts for suspicious cryptocurrency transactions

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Chainalysis, a blockchain analytical firm has launched real-time alerts for suspicious cryptocurrency transactions within Chainalysis Know Your Transaction (KYT).  This will be a first of a kind service providing real-time alerts for 15 cryptocurrencies.

Chainalysis KYT was already sending out alerts for large volumes of crypto being transferred, however, the latest feature would also alert about transactions which involve a risky counterparty and crosses a value threshold. The alerts have been categorized into Severe, High, Medium, and Low depending on the nature of transactions like category, service, direct versus indirect exposure, the direction of funds, and amount.

The top 15 cryptocurrencies include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tether, DAI, Maker and a few top ERC-20 tokens. The firm will add the alert services for other crypto tokens in the near future. The alert feature has been built directly into the user interface and API which businesses and financial institutions can make use of to investigate the nature of funds they are receiving.

John Dempsey, VP Product, Chainalysis said,

“As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices. Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies.”


Aakash is a full-time cryptocurrency journalist at AMBCrypto covering primarily the US market. A graduate in Finance and Economics, his writing is centered around regulation and institutional investment within the cryptocurrency space. He is also an aspiring triathlete.
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