Public Key Chainalysis

Fresh off the stage of the Links Conference,  Ian Andrews (CMO, Chainalysis) speaks to Andrew Davis (General Counsel, Kivu Consulting), who presented in front of a packed house and shared insights about new ransomware strategies and how companies can better protect themselves. Andrew discusses the evolving landscape of ransomware attacks and the challenges faced by victim organizations when deciding whether or not to make payment. He shares the wide spectrum of new typologies, including  cyber extortion and data theft and how the major exploits of pharmacy payment processors and oil pipelines has attracted law enforcement to take swift action against ransomware groups. Andrew also highlights the most common attack vectors and social engineering attack vectors, while presenting the new challenges that AI will have on deep fakes and image/video modifications used by ransomware attackers. 
Minute-by-minute episode breakdown
2 | Overflowing Interest in Cybersecurity at Chainalysis Links Conference 2024  
4 | Rise in cyber extortion and data theft and strategies for handling ransomware attacks
8 | Negotiating ransomware demands and law enforcement dynamics 
12 | Strategies and sanctions risks in ransomware payment decisions
17 | Ransomware attack disrupts major pharmacy companies, oil pipelines and casinos
21 | Debating the ban on ransomware payments and understanding Initial Access Brokers (IACs)
23 | The perils of reused passwords, account breaches and sophisticated fake recruiting attack vectors
28 | The evolving threat of AI and its role in sophisticated ransom attacks
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: Kivu: We fight cybercrime. We protect humanity
Article: Can Organizations Still Pay Ransomware Demands?
Article: Emerging Threat Alert: Drive-By-Compromise On The Rise As Gootloader Malware Exploits Seo Poisoning To Target Victims
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog:  Understanding Crypto Drainers
Blog: Ransomware Payments Exceed $1 Billion in 2023, Hitting Record High After 2022 Decline
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments
Telegram: Chainalysis on Telegram
Speakers on today’s episode
Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
Andrew Davis (General Counsel, Kivu Consulting)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of t

"In a way, if you were a juror on this case, you got educated on cryptocurrency, terrorist financing, and also the Syrian Civil War." - Edward Burns
In this episode, Ian Andrews (CMO, Chainalysis) has a full house as he speaks to several key members of the Manhattan District Attorney's Office, including the District Attorney, Alvin Bragg, the Assistant District Attorney, Edward Burns and the Chief of the Counterterrorism Unit, David Stuart.  As well as Dan Heesemann, Intelligence Research Specialist at the NYPD. The team discusses a fascinating case involving cryptocurrency and terrorism financing and shares how they were able to uncover an individual sending money to a terrorist group in Syria and planning violent attacks on American soil. They walk through the challenges of presenting technical evidence in court and the surprising defense strategy used by the defendant. This gripping episode sheds light on the intersection of crime, cryptocurrency, and counterterrorism efforts and the persistence and collaboration law enforcement and the District Attorney’s office have to utilize in order to bring these criminals to justice. 
Minute-by-minute episode breakdown
2 | Background of the public sector guests and their entrance into cryptocurrency    
4 | The People  vs. Victoria Jacobs: The cryptocurrency terrorist financing case
9 | Unveiling the terrorist financier's intent and tactics
14 | The elusive Salman Belarusi: Operational security mastermind
18 | Simplifying cryptocurrency for jury understanding
20 | Terrorism, cryptocurrency and the Syrian Conflict
22 | Jury deliberates for hours and finds the defendant guilty on all counts 
25 | Manhattan DA, Alvin Bragg explains provides an update on sentencing and closure in case
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: Manhattan District Attorney's Office: One Standard of Justice for All
Website: New York City Police Department (NYPD) is the largest and one of the oldest municipal police departments in the United States
Press Release: Victoria Jacobs Sentenced To 18 Years In Prison For Using Cryptocurrency To Fund Syrian-Based Terrorist Groups; Launder Supporters’ Contributions
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Report -  Crypto Investigations: Blockchain Intelligence for Law Enforcement (Available Now)
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments.
Telegram: Chainalysis on Telegram 
Speakers on today’s episode
Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Alvin Bragg (District Attorney, Manhattan District Attorney's Office)
Edward Burns (Assistant District Attorney, Manhattan District Attorney's Office)
David Stuart (Chief of the Counterterrorism Unit, Manhattan District Attorney's Office)
Dan Heesemann (Intelligence Research Specialist, NYPD)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for

"I'm not excited for what blockchain and DLTs can bring to the banking ecosystem, but I'm more excited to see how working on the same technology will bring together different market players." - Mico Curatolo 
In this episode, Ian Andrews (CMO, Chainalysis) speaks to Mico Curatolo (Co-Head, DLT and Digital Assets Team) of Banca Sella, which is an established bank in Italy with a long history of innovation and cutting-edge technologies in the financial ecosystem. Mico discusses the bank's strategy around DLT and digital assets, including their focus on launching a proprietary retail custody solution.He explains the regulatory landscape with the implementation of MiCA and shares insights on the appetite for digital assets in Italy, the impact of the Bitcoin ETFs, and the future of stablecoins and CBDCs in Europe.
Minute-by-minute episode breakdown
2 | Exploring Banca Sella's traditional  legacy and digital asset and open banking ventures   
6 | The crypto and digital asset market and regulatory environment in Italy
8 | Banca Sella’s DLT, digital asset and custody strategy 
11 | Dissecting Bitcoin ETFs, stablecoin regulations and the future of bank partnerships
16 | What the future of CBDCs in Europe will look like
18 | Embracing digital assets and collaborative innovation in Europe
20 | Working on cutting edge technology and collaboration of industry players 
 
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: Banca Sella: 140 Years in Banking and Leading Innovation
Website: Sellalab: Impact Innovation Platform for SMEs
Article: Increasing the Focus on Trade-Based Money Laundering
Article: Sella bank exposes itself to Web3 with a metaverse initiative
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog - How To Use Blockchain Intelligence To Investigate Crypto Crime
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments.
Telegram: Chainalysis on Telegram
Speakers on today’s episode
Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
Mico Curatolo (Co-Head, DLT and Digital Assets Team, Banca Sella)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

In this episode, Ian Andrews (CMO, Chainalysis) speaks to Michael Firing (Assistant Director, Field Operations, Center for Intelligence, Targeting, and Enforcement (CITE), who is involved with investigations covering human and fentanyl trafficking, trade based money laundering and the movement of crypto in and out of the US. 
They discuss the role of the newly created CITE agency in combating various threats, including terrorism, transnational organized crime, and illicit trade. 
Michael also highlights the challenges of  the increasing use of cryptocurrency in criminal activities such as drug trafficking and human trafficking and the importance of collaboration between public and private sectors in addressing these challenges. Michael explains the importance of leveraging cryptocurrency analysis to support investigations and disrupt criminal networks by having a coordinated multi-agency approach.
Minute-by-minute episode breakdown
2 | Introducing customs and border protection's intelligence arm  
4 | Combating transnational threats with intelligence and cryptocurrency analysis 
7 | Trade Based Money Laundering (TBML): From suitcases to thumb drives
10 | The rise of crypto in illicit precursor chemical sales and drug trafficking
13 | Collection of vast amounts of data to support other agency’s investigative efforts
16 | Global collaboration for the fight against crypto related crimes 
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: U.S. Customs and Border Protection (CBP): Enhancing the nation’s security through innovation, intelligence, collaboration and trust.
Article: America’s Front Line Against Fentanyl
Article: Increasing the Focus on Trade-Based Money Laundering
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog: Crypto and the Opioid Crisis: What Blockchain Analysis Reveals About Global Fentanyl Sales [UPDATED 3/7/24]
Article: Emirates NBD welcomes Chainalysis to Digital Asset Lab Council
LinkedIn Post: Chainalysis is officially in 🇦🇪 Dubai!
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments
Telegram: Chainalysis on Telegram
Speakers on today’s episode
Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
Michael Firing (Assistant Director, Field Operations, Center for Intelligence, Targeting, and Enforcement (CITE)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflec

"We need to think about more creative ways in order to get at the ultimate issue here, which is that they're generating revenue for their weapons of mass destruction (WMD) and ballistic missile programs." - Jessica Peck
In this episode, Ian Andrews (CMO, Chainalysis) is lucky enough to grab Jessica Peck (Senior Counsel, US Department of Justice) and Chris Wong (Supervisory Special Agent, FBI) right off of the main stage to their experiences investigating North Korea's involvement in cryptocurrency and their efforts to track and seize stolen assets. Chris shares his journey from working on interdicting assets to diving into the world of crypto, while Jessica discusses her transition from prosecuting weapons and narcotics cases to focusing on cybercrime and cryptocurrency-related investigations. The trio explore the tactics used by North Korea to launder money and the effectiveness of sanctions in combating these activities.  They also describe the new trends of North Koreans being unknowingly hired by blockchain companies around the world and the associated risks. 
Minute-by-minute episode breakdown
2 | FBI's Involvement in intercepting North Korean mineral exports 
4 | Jessica and Chris’ background and their first crypto investigation cases 
7 | Thwarting North Korean crypto revenue and tracking and recovering stolen cryptocurrency 
11 | Tracing North Korea's cryptocurrency laundering efficacy
17 | Evaluating the effectiveness of sanctions on cryptocurrency mixers
19 | Debating cybersecurity and risk management in crypto 
25 | North Koreans being employed by crypto firms to develop smart contracts 
27 | Best practices for staying safe in crypto and avoiding costly hacks 
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: FBI: We protect the American people and uphold the U.S. Constitution
Website: DOJ: To uphold the rule of law, to keep our country safe, and to protect civil rights
Article: FBI Identifies Lazarus Group Cyber Actors as Responsible for Theft of $41 Million from Stake.com
Blog:  $30 Million Seized: How the Cryptocurrency Community Is Making It Difficult for North Korean Hackers To Profit
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog: International Agencies Sanction Russian National Dmitry Yuryevich Khoroshev, Leader of Cybercrime Group LockBit, for Developing and Distributing Ransomware
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments.
Telegram: Chainalysis on Telegram 
Speakers on today’s episode
Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
Jessica Peck (Senior Counsel, US Department of Justice)
Chris Wong (Supervisory Special Agent, FBI)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 
Unless stated otherwise, reference to any specific product

“I think what's interesting is there is a lot of regulation in the US. It's just not cohesive and specific to this space except for places like New York and soon to be California, Louisiana.” - Thom Hook 
In this episode, Ian Andrews (CMO, Chainalysis) guest Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay) summed up in one sentence what the crypto regulatory framework is like in the USA and how its impacting crypto businesses and innovation as a whole. Thom goes on to discuss his experience working at Circle during the early days of crypto and the challenges of building a compliance program in a rapidly evolving industry.He provides insights into MoonPay's unique business model, which focuses on retail on and off-ramp services for cryptocurrencies and NFTs and their role as a noncustodial platform. He  also touches on topics such as banking relationships, regulatory frameworks, pig butchering and other scams in the industry and the new demand for crypto lawyers in the face of increasing regulatory pressure.
 
Minute-by-minute episode breakdown
2 | Thom’s story of building compliance programs from Joining Circle in 2014, transitioning to Bitstamp to landing at MoonPay
4 | MoonPay’s business model of not being a crypto exchange and making it easier for innovation to have payment rails 
7 | Importance of compliance and transaction monitoring in obtaining and maintaining  banking relationships
12 |Differences in regulations between the US and other countries 
15 | Importance of reputation and risk assessment for partner selection and key
17 | Key takeaways from the conference panel discussion with other compliance experts 
19 | Using education to combat pig butchering scams and the impact of sanctions 
22 | Teaching a class on crypto regulation and its focus on regulations that have the most impact
25 | Prediction of increased demand for crypto lawyers due to regulatory pressure and excitement for innovation and growth in the crypto industry in 2024
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: MoonPay: Your gateway to Web3 - Experience the best of Web3 using MoonPay
Blog: We’re live in Louisiana! MoonPay is back in business in the Bayou State
Article: Crypto lawyers to be in demand as regulatory pressure reaches boiling point
Blog:  Crypto On-Ramp: Boost your revenue with the world's #1 crypto on-ramp
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog: Crypto Staking Overview: How It Works, Benefits, Risks, and Future
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments.
Telegram: Chainalysis on Telegram 
Speakers on today’s episode
Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any cla