{"id":98663,"date":"2024-10-31T09:34:02","date_gmt":"2024-10-31T13:34:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=98663"},"modified":"2024-10-31T09:35:40","modified_gmt":"2024-10-31T13:35:40","slug":"alixpartners-crypto-tracing-with-chainalysis","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/alixpartners-crypto-tracing-with-chainalysis\/","title":{"rendered":"FTX Adviser AlixPartners Improves Crypto Tracing with Chainalysis"},"content":{"rendered":"\n

Crypto and DeFi fraud schemes<\/a> resemble 1980s lending schemes and dot-com market manipulation, according to AlixPartners' David White.<\/p>\n\n\n\n

\"AlixPartners<\/figure>\n\n\n\n

Consulting firm AlixPartners, which is handling FTX's bankruptcy proceedings<\/a>, has joined forces with blockchain research company Chainalysis to enhance cryptocurrency tracing efforts.<\/p>\n\n\n\n

Announced on Oct. 31, the partnership aims to bolster digital asset tracing and forensic investigation \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>capabilities. <\/p>\n\n\n\n

Through this collaboration, AlixPartners professionals have undergone extensive blockchain investigation training and will contribute their expertise to Chainalysis services.<\/p>\n\n\n\n

Moving from Traditional Finance to Crypto with the FTX Case<\/h2>\n\n\n\n

Founded in 1981, AlixPartners is a global consulting firm specializing in financial advisory and bankruptcy, notably involved in the Bernie Madoff scandal of 2008, where it helped recover most of the $17.5 billion principal lost. <\/p>\n\n\n\n

The firm expanded into cryptocurrency forensics in recent years, joining the FTX bankruptcy case<\/a> in December 2022, with David White, AlixPartners\u2019 director of investigations, leading crypto forensic efforts to trace billions in missing assets.<\/p>\n\n\n\n

\"AlixPartners
FTX\u2019s founder, Sam Bankman-Fried, is now serving a 25-year prison sentence in the US. Source: The New York Times<\/em><\/figcaption><\/figure>\n\n\n\n

Besides FTX, AlixPartners has worked with self-proclaimed Bitcoin<\/use><\/svg><\/span><\/a> creator Craig Wright in disputes with Ira Kleiman and Peter McCormack. <\/p>\n\n\n\n

The firm also served as an expert witness in crypto tracing for Fabrizio D\u2019Aloia and supports blockchain gaming platform Gala Games in its legal dispute with Wright Thurston.<\/p>\n\n\n\n

Crypto and DeFi Fraud Parallels Older Schemes<\/h2>\n\n\n\n

According to White, fraudulent schemes in crypto resemble the market manipulation witnessed in the 1980s and during the dot-com bubble. <\/p>\n\n\n\n

He explained, \u201cFraudsters simply find new venues as markets and technology evolve,\u201d with crypto and DeFi being the latest frontier.<\/p>\n\n\n\n

White noted that DeFi\u2019s \u201climited oversight and ample opportunities\u201d have revived old tactics, including pump-and-dump schemes, insider trading, market manipulation, and Ponzi schemes.<\/p>\n\n\n\n

\"AlixPartners
David White, managing director and director of investigations at AlixPartners. Source: AlixPartners<\/em><\/figcaption><\/figure>\n\n\n\n

As DeFi-related attacks increase, AlixPartners has turned its attention to governance attacks on decentralized organizations, smart contract exploits, and collateral schemes. <\/p>\n\n\n\n

White emphasized the importance of \u201ccross-functional expertise in crypto, accounting, digital forensics, and cybersecurity,\u201d areas in which AlixPartners excels, enabling it to navigate this rapidly changing landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto and DeFi fraud schemes resemble 1980s lending schemes and dot-com market manipulation, according to AlixPartners’ David White. Consulting firm AlixPartners, which is handling FTX’s bankruptcy proceedings, has joined forces with blockchain research company Chainalysis to enhance cryptocurrency tracing efforts. Announced on Oct. 31, the partnership aims to bolster digital asset tracing and forensic investigation […]<\/p>\n","protected":false},"author":56,"featured_media":98668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[710,4037,11863,1135,22401,4687],"class_list":["post-98663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-business","tag-companies","tag-crimes-2","tag-fraud","tag-partnerships","tag-transactions"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/AlixPartners-Enhances-Crypto-Tracing-with-Chainalysis.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/98663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=98663"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/98663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/98668"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=98663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=98663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=98663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}