Bitcoin : Bitcoin, Ether and criminal altcoins soon to return to the market in droves? |

States are seizing a growing number of cryptocurrencies in criminal cases. With its new program, the blockchain company Chainalysis wants to help these players monetize these seized assets.

69,370 bitcoins is the jackpot now in the hands of American justice. This treasure is the result of a record seizure recently made by the country’s authorities. These cryptocurrencies were owned by Silk Road, a now dismantled dark web marketplace.

What to do with all this Bitcoin now? The DoJ regularly auctions confiscated crypto. This is not the only one, however. So much so that the management of these assets now represents a real market in itself.

Tools to store and resell crypto-currencies

And blockchain analysis specialist Chainalysis intends to make it a source of income. In this context, the company announces the launch of its asset realization program. This is intended for government agencies and insolvency actors.

Chainalysis thus wishes to offer them solutions to help them “to process, store, carry out and monitor the assets seized.” In their investigations, the authorities must indeed seize and store cryptocurrencies until they can be legally confiscated.

States and “insolvency practitioners” therefore “need a secure way to track, store and ultimately sell seized crypto-assets in exchange for fiat currency,” notes Chainalysis.

Criminal uses of crypto that follow adoption

And this need is only expected to grow with the increasing adoption of cryptocurrencies, whether for legal or illegal purposes. Already a partner of various States in the context of surveys, the publisher therefore offers to offer new services.

Chainalysis thus recalls that its solutions allowed in 2020 media actions for the confiscation of crypto-currencies. The editor discusses terrorist financing cases, but also North Korea’s computer hacks.

The United Nations estimates that North Korea’s cyberattacks have allowed it to amass a $ 2 billion cryptocurrency jackpot. These funds, once laundered, would aim to allow the regime to circumvent international sanctions and finance its arms purchase programs.