crystal-blockchain-announces-jordan-alexander-as-associate-director-of-product

Crystal Blockchain announces Jordan Alexander as Associate Director of Product

 

Blockchain analytics firm, Crystal, whose solutions for crypto investigations and AML compliance are used by organizations across the globe, has announced the appointment of London-based Jordan Alexander as its new Associate Director of Product.

In his new role, Alexander is set to work closely with Crystal’s CEO, Marina Khaustova to develop a robust strategy for continually innovating and delivering the firm’s product to market.

Alexander’s addition to the Crystal team brings considerable expertise gained over the years including at multinational cybersecurity software company, Avast, where Alexander was product lead for their secure and private browser, designing solutions to identify and combat security threats. Prior to this, Alexander launched a cloud computing start-up helping companies use infrastructure as code. Bringing his experience to Crystal underlines its commitment to making the use of cryptocurrencies safe and secure for financial intuitions of any kind.

“It is tremendously exciting to join Crystal. At this point in its journey to become a market-leading blockchain intelligence firm, Crystal is in an excellent position to pioneer and deliver innovation to the quickly evolving and exciting world of digital assets to help firms safely adopt cryptocurrencies,” said Alexander.

This key hire signals the next phase of the firm’s expansion, as the Amsterdam-headquartered blockchain intelligence provider focuses on entering the US market to deliver its solutions with greater customization to the requirements of local regulations and risk landscapes.

” The intersection of the rapidly evolving regtech and crypto industries has placed Crystal at a pivotal point, and we strive to deliver unparalleled customer experiences to financial institutions that envision digital assets as a native part of their future strategy.  As we continue to expand and solidify our position as a crucial solution for risk monitoring and management strategies, we are thrilled to have Jordan, an excellent specialist in the field of threat intelligence, join our team to spearhead the critical mission of providing superior customer service,” said Marina Khaustova, CEO at Crystal Blockchain.

With presence in key financial markets across the globe such as North AmericaEurope, the UK and the Middle East Crystal serves hundreds of clients globally including financial institutions, crypto exchanges and supervisory authorities.

crystal-blockchain-now-supports-analytics-for-300+-defi-protocols

Crystal Blockchain Now Supports Analytics For 300+ DeFi Protocols

 

Digital asset analytics platform Crystal Blockchain now provides AML compliance support for 300+ DeFi protocols; that’s the most decentralized coverage on the analytics market right now.

As we expand support of Ethereum (ETH) token transfers in our monitoring tool, we now provide support for 2600+ ERC-20 tokens on our platform. As part of this, we now support 300+ DeFi tokens including Aave (AAVE), 1inch (1INCH), and The Graph (GRT). We continue to provide even more ERC-20 token transfers for a more detailed transactional profile analysis.

The growing importance of DeFi analytics

The decentralized finance (DeFi) economy continues to build with 2.91m unique Ethereum addresses interacted with a DeFi protocol by the end of June 2021, This represented a 65% growth from the previous quarter, according to Cointelegraph. Growth is expected to continue.

Infographic – https://wireup.zone/wp-content/uploads/2021/08/echo/Crystal_Blockchain_Infographic.jpg

The current top tokens Crystal supports (by market cap) are Aave (AAVE) the largest by market cap at $3,906m, followed by The Graph (GRT) at $2,953mFei Protocol (FEI) at $2,048mLiquity USD (LUSD) at $727m, and last but not least, Neutrino USD (USDN) at $434m.

Total market capitalization for supported DeFi tokens on the Crystal analytics platform is now approximately $71.5b. For comparison, that’s the same as Tether’s (USDT) current market cap.

The current market cap for the DeFi sector is $91b – Crystal covers almost 80% of this volume. Crystal continues to increase its DeFi analytics coverage as the decentralized sector expands.

Contact the team at [email protected] to learn more about our analytics solutions.

crystal-blockchain:-security-breaches-and-fraud-involving-crypto-still-high-despite-tech-development

Crystal Blockchain: Security Breaches and Fraud Involving Crypto Still High Despite Tech Development

 

It’s ten years since the first official cyber-terrorist attack of a crypto exchange, and despite technological advances, most cryptocurrency entities have not yet been able to develop sufficiently reliable security systems to minimize security breaches on their platforms.

Cyber-terrorists are taking more advantage of security gaps every year. Beyond security breaches, there are various types of fraudulent schemes that have provided a way for bad actors to gain value from unsuspecting victims, such as exit scams and Ponzi schemes.

Crystal has compiled a full and detailed report of all security breaches, fraudulent activity, cyber-terrorism, and scams involving cryptocurrencies between the years 2011 and 2020. 113 security attacks and 23 fraudulent schemes have so far resulted in the theft of approximately $7.6 billion worth of crypto assets in total (that’s comparable to the GDP of Monaco).

The most common locations for exchange security breaches are the United States, the United KingdomSouth KoreaJapan, and China. The largest crypto security breach thus far was the incident involving the Japanese exchange Coincheck in 2018.

[READ THE FULL REPORT]

The most notable type of cyber-terrorism utilizes a security breach in a crypto entity’s internal security systems, resulting in the illegal gaining of access to the crypto service hot wallets.

Over the next couple of months and years, as the number of blockchains keeps growing, and methods and technologies utilized by fraudsters continue to become more sophisticated and advanced, we can assume that the number of cyber-terrorist attacks will also continue to grow.

To see this data on an interactive map and to download the full report, please visit our Map of Security Breaches and Fraud Involving Crypto on the Crystal website.