Sui Foundation Partners with Chainalysis to Enhance Blockchain Security
The Sui Foundation has partnered with Chainalysis to improve on-chain compliance and security for the Sui network. Key points include:
- Chainalysis designated as a monitoring entity to detect fraudulent activities.
- Utilization of the Sui Guardian program for identifying illicit activities.
- Active monitoring of on-chain transactions to enhance compliance standards.
- Benefits for major crypto exchanges through improved risk assessment insights.
This collaboration aims to increase transparency and trust within the Sui ecosystem while addressing the rise in cybercrime, particularly phishing scams and fraud. Recent data indicates:
- Global crypto-related crime generated $40.1 billion in 2024, down from $46.1 billion in 2023.
- New York Attorney General reported millions stolen through job opportunity scams.
- Crypto phishing scams on Telegram surged by over 2,000% since November 2024.
Chainalysis plans to continue enhancing Sui's compliance framework and investigative capabilities.