Chainalysis Buys Blockchain Data and Web3 App Infrastructure Provider Transpose
Chainalysis has officially revealed the takeover of Transpose, a firm that specializes in blockchain data and infrastructure. Transpose’s services are aimed at supporting the creation of web3 applications. Transpose’s customers have the capability to generate user experiences that are responsive, develop wallet applications with high functionality, scrutinize financial activity, fulfill tax and compliance obligations, and accomplish a host of other tasks.
As per the analysis conducted by Chainalysis, the exchange of value is being revolutionized by blockchain technology, similar to how the exchange of information was transformed by the internet. Their objective is to achieve a future where the blockchain is the sole medium for transferring value and every enterprise operates as a blockchain-based business. Currently, enterprises and software developers are endeavoring to substitute intricate data systems that are dependent on undependable node services or inadequate data providers. The users are in search of APIs that are flexible, reliable, and efficient in providing seamless access to precise historical and real-time blockchain data.
The utilization of Transpose’s technology and team will aid in fulfilling the demand, hastening our roadmap, and reinforcing our standing as the most reliable, scalable, and user-friendly provider of web3 data and applications in the industry. We are pleased to announce our partnership with Transpose, and look forward to working together with our shared customers and partners to enhance the efficiency and transparency of the financial system. As per a distinct report by Chainalysis, the Ministry of Foreign Affairs (MOFA) of South Korea has imposed sanctions on Kimsuky, a North Korean hacking group, and has designated two cryptocurrency addresses as the group’s identifiers, on 1 June 2023.
In addition, MOFA partnered with South Korea’s National Intelligence Service (NIS) and National Police Agency (NPA), along with the Federal Bureau of Investigations (FBI), Department of State, and National Security Agency (NSA) of the United States to release a collective advisory concerning North Korean cyber espionage activities. Kimsuky is a cyber espionage group that operates out of North Korea and has been engaged in such activities since 2012. The group is reputed to have pilfered technologies linked to satellite and weapon development, as well as foreign policy intelligence, on behalf of the North Korean administration.
Kimsuky’s espionage endeavors have focused on various entities, including but not limited to governmental bodies, particularly the South Korean government, political groups, and academic establishments.Furthermore, it has been reported that Kimsuky has employed various tactics such as scams, theft, cryptojacking, and sextortion against non-combatants, presumably with the aim of self-financing. On several occasions, Kimsuky has employed cryptocurrency as a means to obscure its transactions.
As per the statement of Greg Lesnewich, who is a Senior Threat Researcher at Proofpoint, the cryptocurrency operations of Kimsuky are indicative of the cultural principle of ‘juche’ in North Korea, which emphasizes self-reliance. The operators engaged in cryptocurrency mining for the purpose of generating and concealing funds. They also provided semi-legitimate services in exchange for Bitcoin or Ethereum payments. Additionally, they occasionally carried out malicious activities, such as sextortion campaigns, aimed at cryptocurrency entities and individuals.
Joseph Dobson, who serves as the principal analyst for Mandiant at Google Cloud, notes that Kimsuky relies heavily on purloined cryptocurrency to finance their aggressive cyber campaigns. This is achieved through various means such as token phishing, cryptojacking, and seizing wallets opportunistically.