Chainalysis began tracking suspicious transactions in 15 cryptocurrencies

Chainalysis, an analytic blockchain startup, introduced the Chainalysis KYT real-time alert system, which informs the user about suspicious transactions.

According to the developers, the system is primarily focused on cryptocurrency companies and financial institutions and allows them to reduce regulatory and reputation risks.

KYT notifications are available for all 15 cryptocurrencies that Chainalysis works with, including Bitcoin, Ethereum, Bitcoin Cash, as well as stablecoins and ERC20 tokens, for example, DAI and Tether. Chainalysis customers can customize notifications by changing risk settings to suit their own needs.

Chainalysis Vice President John Dempsey emphasized that regulators' increased focus on the cryptocurrency industry requires businesses to demonstrate best compliance practices.

“When it comes to working with sanctioned individuals, funds obtained from hacker attacks, darknet markets and other illegal activities, every minute counts. That’s why Chainalysis invests in quick and actionable notifications to help our clients mitigate risks when interacting with cryptocurrencies, ” he said.

Recall that in April, Chainalysis KYT (Know Your Transaction) transaction tracking tool began supporting Binance BNB coins , stablecoins Gemini Dollar (GUSD), Tether (USDT) and USD Coin (USDC).

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