In a proposal to mitigate hazards from crypto hacking attempts, a blockchain research firm -Chainalysis, has undertaken a hotline to receive reports of such incidents. If someone is touched on with suspicious crypto payment pleas from strangers, they have the option to call up this hotline and report their alerts.

The phone line will be active 24×7, and user- complaints around the theft, code exploit, or ransomware attack will be looked upon. Chainalysis is taking this decision to give rise to a hotline to flag crypto hacks because of the increasing number of global issues.

In a blog post labeled ‘Crypto Incident Response,’ Chainalysis announced that hackers inflicted thefts and damages worth up to $3 billion through 251 attacks in 2021.

“That’s why today we’re launching Crypto Incident Response, a rapid response service for organisations that have been targeted by a cyber-attack or unauthorized network intrusion that involves a cryptocurrency theft or demand,” the research firm jotted down in its post.

Chainalysis has alleged that frequently occurring crypto attacks are frightening people from researching this digital finance sector.

A report by Chainalysis had recently claimed that till now, in 2022, cybercriminals have snatched $1.7 billion worth of digital assets with Decentralised Finance (DeFi) codes accounting for 97 percent of the whole.

The $600 million Ronin bridge violation in March and the $320 million Wormhole strike in February were the primary sources of the loot.

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Alice is the Chief Editor with relevant experience of three years, Alice has founded Galaxy Reporters. She has a keen interest in the field of science. She is the pillar behind the in-depth coverages of Science news. She has written several papers and high-level documentation.

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