Chainalysis, the blockchain forensics firm, is quickly changing the blockchain regulatory landscape. Known for its reliable software tools, it is being called ‘the Theranos of blockchain forensics’. Its technology is trusted by a growing number of governments and businesses worldwide.
A new study has revealed that the analytical tool used by law enforcement agencies to investigate cryptocurrency transactions is not backed up by scientific evidence that it is an effective tool. Chainalysis, the provider of the software, is reportedly “unaware” of the findings.
Chainalysis has identified “mysterious withdrawals” from Multichain, raising questions about whether a so-called rug pull could be occuring. A rug pull is a fraudulent exit scam where the founder of a project absconds with investors’ funds.