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Coinbase Acquires Blockchain Intelligence Company

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US cryptocurrrency exchange Coinbase acquired the blockchain intelligence start-up company Neutrino.

Coinbase said, "By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples' accounts, investigate ransomware attacks, and identify bad actors". "It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations," said Varun Srinivasan, Engineering Director at Coinbase.

The workforce of the Italy-based company, which develops blockchain intelligence platforms for crypto exchanges and law enforcement agencies, will continue to operate as a standalone business based out of Coinbase's London office.

Launched in the Italian city of Milan three years ago, Neutrino boasts of some of the world's leading blockchain engineering and security experts in its roll.

The company has created a unique platform for the analysis, investigation and identification of illegal cryptocurrency transactions on different blockchains and within smart contracts.

Neutrino said its technology and expertise will be used to better protect the end-to-end integrity of Coinbase customers' cryptocurrency transactions.

"We decided to join Coinbase because we're totally aligned with the company's mission of building an open financial system and we believe that our expertise will play a vital role," the company said in a statement.

Neutrino currently provides analytical support to BTC, LTC, ETH, BCH and USDT.

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