Government Technology & Services Coalition member Chainalysis has acquired Abaxx Associates, LLC, a professional services firm that specializes in data integration, financial intelligence, and domestic and international affairs. Chainalysis and Abaxx have worked together supporting some of the most sophisticated virtual currency and financial crime investigations. The acquisition will help Chainalysis enhance its offerings to government agencies by building on Abaxx’s expertise in large scale data analytics, lead generation and investigative services.
Cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving $14 billion over the course of the year, up from $7.8 billion in 2020. As cryptocurrency becomes mainstream, its use by both good and bad actors has soared. The expertise that Abaxx has developed will support Chainalysis’ customers’ work to address the quickly evolving nature of the industry including non-fungible tokens (NFTs) and decentralized finance (DeFi) applications, and critical national security threats like terrorism and ransomware.
