Analyst firm Chainalysis is launching a new service to help authorities store and sell cryptocurrencies after they have been seized.
“Chainalysis has created a comprehensive solution for tracking, planning, storing, selling and monitoring cryptoassets seized by law enforcement agencies,” said Duncan Hoffman, head of Europe for Chainalysis.
The Chainalysis program includes the registration and sale of confiscated assets for their "legal return to the cryptocurrency ecosystem."
Asset Reality, a consultancy that manages the disposal of the seized assets, will partner with Chainalysis to help determine how to sell seized funds.
Last week, US authorities, in partnership with Chainalysis, confiscated 69,370 bitcoins in the Silk Road case.