Ponzi

2024

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AlixPartners and Chainalysis have teamed up to enhance cryptocurrency compliance and forensic investigation services, addressing growing fraud risks.
AlixPartners, a financial advisory firm recognized for its work in high-profile restructurings, announced a collaboration with blockchain analytics firm <a href="https://crypto.news/tag/chainalysis/" target="_blank" rel="noopener noreferrer nofollow">Chainalysis</a> to strengthen compliance and forensic capabilities in cryptocurrency.
As part of the partnership, AlixPartners will join the Chainalysis Services Provider program, expanding its offerings in “cryptocurrency tracing, forensics, compliance assessments and remediation, data analytics, and related expert witness testimony,” Chainalysis stated in a <a href="https://www.chainalysis.com/blog/alixpartners-collaboration-client-support-digital-asset-trading-forensic-investigations-2024/" target="_blank" rel="noopener noreferrer nofollow">blog announcement</a> on Oct. 31.
The collaboration addresses a critical need in the cryptocurrency industry, where fraud and regulatory challenges are mounting. According to Chainalysis’ <a href="https://go.chainalysis.com/crypto-crime-2024.html" target="_blank" rel="noopener noreferrer nofollow">2024 Crypto Crime Report</a>, crypto-based illicit transactions reached $24.2 billion in 2023, highlighting the need for expertise in transaction tracing and risk management. AlixPartners’ consultants, now Chainalysis Certified Investigators, will incorporate the firm’s blockchain tracing tools to expand crypto tracking and compliance capabilities for clients.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/us-states-reach-1b-crypto-fraud-settlement-owner-promises-refunds/"> US states reach $1b crypto fraud settlement, owner promises refunds </a>
<h2 class="wp-block-heading" id="from-madoff-to-ftx">From Madoff to FTX</h2>
Founded in 1981 by Jay Alix, AlixPartners is widely known for its restructuring work on cases such as General Motors, Enron, and Kmart. In the cryptocurrency space, its recent work includes <a href="https://crypto.news/ftx-engages-forensic-team-to-investigate-missing-funds/" target="_blank" rel="noopener noreferrer nofollow">assisting</a> FTX’s new management with tracking billions in missing funds following the exchange’s collapse in 2022. The company’s forensic expertise was also highlighted in the Bernie Madoff case, where it identified affected investors in one of the largest Ponzi schemes in history.
AlixPartners’ head of financial advisory, David White, emphasized that the alliance with Chainalysis would strengthen its forensic investigation capabilities in the cryptocurrency sector. Shannon Hughes, head of partnerships at Chainalysis, praised the collaboration as part of the firm’s mission to “build trust in the future of finance” by expanding its investigative reach. 
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/chainalysis-ukraine-russia-lead-in-crypto-adoption-at-all-levels/"> Chainalysis: Ukraine, Russia lead in crypto adoption at all levels </a>

AlixPartners teams up with Chainalysis to expand crypto tracing expertise

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