Jim Lee, Ex-IRS Criminal Investigations Leader, Joins Chainalysis

Last Updated on April 9, 2024

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Key Takeaways:

  • Jim Lee, former Chief of IRS-CI, joins Chainalysis as Global Head of Capacity Building to enhance collaboration with regulatory bodies and financial institutions against crypto crimes.
  • Lee has a 29-year history with the IRS, leading significant operations against darknet marketplaces and illicit activities, including the takedown of Hydra and the Welcome to Video platform.
  • Chainalysis’ role in combating cybercrime and crypto crime is emphasized, with Lee advocating for the use of advanced analytical tools to secure the cryptocurrency ecosystem.

Chainalysis, a leader in blockchain analytics, has recently welcomed Jim Lee, the former Chief of the Internal Revenue Service’s Criminal Investigations (IRS-CI) division, to its team.

Lee will serve in the newly established role of Global Head of Capacity Building, aiming to strengthen the collaboration between Chainalysis and various regulatory, law enforcement, tax agencies, and financial institutions.

His mission is to enhance their abilities to combat cryptocurrency-related crimes through the effective use of Chainalysis’ comprehensive data and analytical tools.

With an impressive career spanning 29 years at the IRS, including a notable three-year tenure as the head of IRS-CI, Lee has been instrumental in orchestrating major takedowns of illicit activities within the darknet space.

His efforts led to the dismantling of Hydra, a notorious darknet marketplace, and the seizure of assets from Hamas.

Moreover, under his leadership, the Welcome to Video platform, a darknet site involved in the distribution of child sexual abuse materials (CSAM) and accepting cryptocurrency payments, was taken down.

This operation resulted in the rescue of 23 children and the arrest of 337 individuals involved in child abuse.

Chainalysis was a key player in these significant cases, showcasing the pivotal role of blockchain analytics in fighting cybercrime and crypto crime.

Lee, in a statement shared on Chainalysis’ website, highlighted the dual nature of cryptocurrency as both the future of finance and a new frontier for criminal activities.

He emphasized the importance of empowering law enforcement with top-tier analytical tools and data to safeguard the cryptocurrency ecosystem from malicious actors, ensuring a safe environment for users worldwide to leverage the benefits of crypto without fear.

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