Chainalysis expands its presence in APAC in response to the KuCoin hack

Chainalysis expands its presence in APAC in response to the KuCoin hack

Chainalysis, a leading global cryptanalysis firm, is expanding its presence around the world to encompass more jurisdictions for its cryptcoin research.

Serving federal agencies such as the Internal Revenue Service and the FBI, Chainalysis is launching new offices in Singapore and Tokyo to better serve clients in the Asia Pacific region, the company announced on September 27.

By establishing the two new offices, Chainalysis is redoubling its commitment to fully support local crypto businesses, government agencies and financial institutions. The new offices will serve as sales centres, professional research services and training, the company representative said. Ulisse Dell’Orto, APAC’s managing director at Chainalysis, will move to Singapore to head up the new operations as APAC’s managing director.

Announcing the news on Twitter, Chainalysis noted that the new offices at APAC will serve as an important location for local crypto investigations. Apparently, the firm intends to closely investigate the hacking of USD 200 million from the KuCoin crypto currency exchange, which is supposedly based in Singapore. Chainalysis tweet:

The KuCoin hack is another example of the need for investigation and enforcement tools by cryptosystems exchanges, law enforcement and financial institutions around the world. We are pleased to announce new offices in Singapore and Tokyo to better serve APAC clients.

As previously reported by Cointelegraph, KuCoin said in 2018 that it was based in Singapore. However, KuCoin is not licensed in Singapore and did not report to the Singapore Monetary Authority, which is required to operate legally in the country. It is not clear where KuCoin’s headquarters actually are. KuCoin’s company profile states that it „operates in the Seychelles“.

Chainalysis did not respond immediately to Cointelegraph’s press enquiry. This article will be updated pending further information from the firm.