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Chainalysis has announced a partnership with Soneium, an Ethereum Layer 2 solution developed by Sony Block Solutions Labs. This collaboration aims to enhance the security and transparency of transactions occurring on the Soneium network. Specifically, Chainalysis will provide its suite of compliance and investigation tools to monitor activity on the Layer 2 blockchain.
The integration means that Chainalysis's KYT (Know Your Transaction) software will now be able to track and analyze transactions on Soneium, flagging potentially risky or illicit activity. This will provide Soneium with enhanced capabilities for detecting and preventing money laundering, fraud, and other forms of financial crime. Furthermore, Soneium will be integrated into Chainalysis's entity screening products, allowing for the assessment of risk associated with wallet addresses.
Additionally, Chainalysis's Reactor investigation tool will enable users to trace the flow of funds across the Soneium network, facilitating investigations into suspicious transactions. This partnership is designed to foster greater trust and security within the Soneium ecosystem, promoting wider adoption of the Layer 2 solution. The partnership also highlights the growing importance of compliance and security measures in the expanding world of Layer 2 blockchain technology.