Chainalysis and Halborn, two global specialists in the sphere of cryptocurrency security, join forces in a new initiative to protect clients from industry fraud. The seven-phase arrangement aims to inform Web3 companies with the necessary technological, logistical and expertise resources to prevent and deal with potentially risky scenarios. Each team from Halborn and Chainalysis will be responsible for five and two phases respectively, with fraud prevention and ongoing monitoring being the last two.

The issue of frauds in the crypto industry has become a significant matter to pay attention to, especially due to the SEC and CFTC's actions against a number of crypto-related parties with connections to the USA. Furthermore, Director of Channel Partnerships at Halborn, Scott Gralnick, noticed the effective need of a preventive ecosystem that provides necessary protection, particularly in comparison to the incident-prone post-ICO period.

What steps Halborn and Chainalysis set up to fulfil a proactive attitude, is a seven-phase strategy. First of all, Halborn works on deep scanning of customer's blockchain activity and data. So, profiles of suspicious activities get detected, listed and organized into clusters. The next stage is to flag persistent frauds, risky trends and "frames of mind" for further monitoring. Meanwhile, Chainalysis executes two remaining stages — fraud prevention and ongoing monitoring. Chainalysis applies strength indicators and analyzes customer's data to pick up signs of unique activities that require additional assessment.

All in all, the partnership of Chainalysis and Halborn indicates a desire to create a safe and secure environment for cryptocurrency users and developers, whose initiatives to build products and legal tender often require both protective measures and continuous monitoring of the external environment. Both firms emphasize the importance of collaboration to develop practical solutions that should ensure the safety and development of the digital asset market.



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