Chainalysis Raises $1.6M, Partners with Europol Following Hospital Ransom Fiasco

Chainalysis Raises $1.6M, Partners with Europol Following Hospital Ransom Fiasco

Cyber crime startup Chainalysis has raised $1.6 million USD, while announcing collaboration with Europol following an uptick in Bitcoin related ransomware attacks, which included including Hollywood Presbyterian Medical Center’s recent $17,000 USD bitcoin payout.  

Also read: Senate Passes Cybersecurity Threat Sharing Bill: Tech in Trouble?

Chainalysis Partners with Europol

While a 40-bitcoin ($17,000 USD) ransom payout made its way to hackers from The Hollywood Presbyterian Medical Center, cyber crime startup Chainalysis announced international collaboration with Europol to combat the trend of the “Bitcoin baddy.”

“This new collaboration is an important next step in the endeavor to move digital currencies out of the hands of the criminals and into the hands of consumers and blooming commerce,” CEO Michael Gronager said in a statement quoted by Reuters.

The move came as the New York based company revealed a $1.6 million USD funding round closure backed by European investors.

Like many others, California hospital patients could no doubt have benefited from Chainalysis’ investigative tools in light of news that the institution was reportedly facing up to $3.4 million in ransom payments before the final payout was issued. The hackers had seized control of the computer network, gaining

Read more ... source: TheBitcoinNews