FinCEN to award Anchain.ai sole source

Notice ID: SS-FIN-25-017

Subject to final approval, Fiscal Service Procurement on behalf of the Financial Crimes Enforcement Network (FinCEN) intends to make award on a sole source basis in accordance with FAR 6.302-1, to Anchain.ai, Inc. 1601 McCarthy Blvd, Milpitas, CA, 95035 for the renewal of existing Anchain.ai Cyber Tool SAAS license and Subscription Support to continue at FinCEN’s 2070 Chain Bridge Road, Vienna, VA location.  Anchain.ai has provided this product to FinCEN in the past and are the sole source supplier of this product.

Estimated award POP: 01/01/2025 for a Base period of 12 months, and four (4) 12 month option periods.

Anchain.ai, Inc. tool provides cryptocurrency tracing capabilities. AnChain provides AI-based security solutions for the blockchain industry. Its product includes Blockchain Ecosystem Intelligence for behavioral-based intelligence solutions, Transactional Analytics Platform for automated alerts and anomaly detection, Smart Contract Auditing Sandbox for auditing security score of solidity sandbox, and more. Its features include a dashboard for crypto-assets, forensic analysis, and incident response.

Anchain Smart Contract Risk Evaluation ENgine™ (SCREEN) – The AnChain.AI product incorporates an AI engine for Cryptocurrency AML in order to manage exposure to high-risk crypto wallets, identify vulnerable code, and monitor client activity. Detect and identify suspicious addresses, illicit activities, and criminal actors within FinCEN’s ecosystem. Next-Gen smart contract intelligence. Manage FinCEN’s exposure to high-risk crypto wallets, identify vulnerable code, and monitor client activity, all in one place.

• Real-time API returns calls in under a second where competitors can take more than 30 minutes.
• The auto-tracing AI-based technology is patented so it is unique to this product which provides faster analysis with less false positives than competitors.
• UTXO & Smart Contract tracing which competitors cannot match
• Industry’s largest database with over 200 million addresses and labels, powered by machine learning
• Detect suspicious addresses. Identify key transaction heuristics and track illicit money flow.
• Wallet Integrity Screening-Close exploitable loopholes. Secure the fabric of infrastructure & source code analysis.
• A contract address is an address that utilizes a smart contract. This is specific to Ethereum and ERC-20 tokens. A smart contract creates a certain set of conditions that digital asset transaction must meet to be successful. This tool develops smart contract risk profiles (static and/or dynamic) and statistical heat maps provide situational awareness across 60,000+ mainnet smart contracts. The set of conditions is unique to this tool.

Anchain Compliance Investigation Security Operations (CISO)-CISO connects pseudonymous addresses to real-world entities and allows the user to intuitively graph and investigate cryptocurrency transactions in minutes.

• AI combines real-time intelligence, behavior-based machine learning, and integrated investigation tool, enhancing operational efficiency.
• Connect to 10+ blockchains and thousands of pseudonymous wallet addresses with real world entities with our patented behavior based machine learning (mapped out more than 100 million blockchain addresses).
• Complies with all existing global and regional legislation (eg. FATF & 5AMLD).
• Machine learning model provides comprehensive evaluation of associated risks through AI-powered risk engine & proprietary
• User entity behavior analytics.
• Interactive graph-based investigation tools reveal complex entity relationships involving thousands of addresses.
• Sensitive data is kept within the secure network perimeter & encrypted.
• AnChain’s proprietary AI-based analysis and graphical interface, CISO investigative capabilities allow insight on bad actors and their modus operandi.
• Unique “auto-trace” the flow of transactions out of a wallet.
• Identify where funds are off ramped at a legitimate exchange.

This acquisition is for the purchase of Anchain.ai products. Therefore, since Anchain.ai, Inc. own and control all the proprietary rights for this product FinCEN intends to make a sole source award to Anchain.ai, Inc.

More here.

🔊 Listen to Story