AlixPartners and Chainalysis have partnered to enhance cryptocurrency compliance and forensic investigation services, addressing the growing risks of fraud in the crypto industry.

AlixPartners, a financial advisory firm known for its work in high-profile restructurings, has announced a collaboration with blockchain analytics firm Chainalysis to strengthen their compliance and forensic capabilities in the cryptocurrency sector.

Enhancing Cryptocurrency Compliance and Forensic Services

As part of this collaboration, AlixPartners will join the Chainalysis Services Provider program. This partnership will expand AlixPartners’ offerings in areas such as cryptocurrency tracing, forensics, compliance assessments and remediation, data analytics, and expert witness testimony.

The collaboration addresses a critical need in the cryptocurrency industry, where fraud and regulatory challenges are increasing. According to Chainalysis’ 2024 Crypto Crime Report, crypto-based illicit transactions reached $24.2 billion in 2023, underscoring the necessity for expertise in transaction tracing and risk management. AlixPartners’ consultants, now Chainalysis Certified Investigators, will leverage the firm’s blockchain tracing tools to enhance crypto tracking and compliance capabilities for their clients.

Expertise in High-Profile Cases

Founded in 1981 by Jay Alix, AlixPartners is renowned for its restructuring work on cases such as General Motors, Enron, and Kmart. In the cryptocurrency space, the firm recently assisted FTX’s new management in tracking billions in missing funds following the exchange’s collapse in 2022. AlixPartners’ forensic expertise was also instrumental in the Bernie Madoff case, where it identified affected investors in one of the largest Ponzi schemes in history.

David White, AlixPartners’ head of financial advisory, 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.

“This partnership enhances our ability to provide comprehensive compliance and forensic services to our clients in the rapidly evolving cryptocurrency market,” said David White.

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