Hybrid Identity Protection Podcast·Sep 1, 2026·40m·Episode #102

Why Less Than 20% of Ransomware Victims Ever Pay with Marc Jason Grens, President of Chaintrax

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Show notes

This episode features Marc Jason Grens, President of Chaintrax.

Marc has led Chaintrax for twelve years, growing it from a compliance and anti-money-laundering firm in cash-to-crypto services into a licensed blockchain forensics practice after entering the ransomware payment business in 2017. He has since advised on more than 4,000 incidents.

In this episode, Marc explains why ransomware victims decide to pay, why that payment can violate US sanctions law if it isn't vetted first, and why tracking the money afterward is how law enforcement works to recover it.

This episode makes the case that paying a ransom is only the beginning of a compliance and recovery process, not the end of one.

Guest Bio

Marc Grens is the President of Chaintrax, which has been providing cutting-edge financial, technological, and consulting services for the payments and incident response industry for the last 12 years. He is a serial entrepreneur with more than 15 years of experience in the investment industry. Prior to Chaintrax, Marc held senior positions at Charles Schwab, HighTower Advisors, and Alpha Strategies. He received his M.B.A. from the Kellstadt Graduate School of Business at DePaul University in 2010, and a B.A. from Illinois State University. Marc is an active angel investor and serves on multiple advisory boards of companies in the Chicago tech community.

Sponsor

The HIP Podcast is brought to you by Semperis, the leader in identity-driven cyber resilience for the hybrid enterprise. Trusted by the world’s leading businesses, Semperis protects critical Active Directory and Entra ID environments from cyberattacks, ensuring rapid recovery and business continuity when every second counts. Visit semperis.com to learn more.

Links

Connect with Marc on LinkedIn

Connect with Sean on LinkedIn

Connect with Jeff on LinkedIn

Don't miss future episodes

Learn more about Semperis

HIP Conference 26 is coming to Nashville, September 8–10, 2026.

Join us to explore this year's theme, Redefining Resilience, at the world's premier practitioner-led conference focused on securing hybrid identity environments.

If you love the conversations on the HIP Podcast, this is where the community comes together in person. Learn more and register at https://www.hipconf.com/.

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What Cloud Identity Really Costs When It Fails with Chris Steinke, Director of Product Strategy at Semperis

This episode features Marc Jason Grens, President of Chaintrax. Marc has led Chaintrax for twelve years, growing it from a compliance and anti-money-laundering firm in cash-to-crypto services into a licensed blockchain forensics practice after entering the ransomware payment business in 2017. He has since advised on more than 4,000 incidents. In this episode, Marc explains why ransomware victims decide to pay, why that payment can violate US sanctions law if it isn't vetted first, and why tracking the money afterward is how law enforcement works to recover it. This episode makes the case that paying a ransom is only the beginning of a compliance and recovery process, not the end of one. Guest Bio Marc Grens is the President of Chaintrax, which has been providing cutting-edge financial, technological, and consulting services for the payments and incident response industry for the last 12 years. He is a serial entrepreneur with more than 15 years of experience in the investment industry. Prior to Chaintrax, Marc held senior positions at Charles Schwab, HighTower Advisors, and Alpha Strategies. He received his M.B.A. from the Kellstadt Graduate School of Business at DePaul University in 2010, and a B.A. from Illinois State University. Marc is an active angel investor and serves on multiple advisory boards of companies in the Chicago tech community. Sponsor The HIP Podcast is brought to you by Semperis, the leader in identity-driven cyber resilience for the hybrid enterprise. Trusted by the world’s leading businesses, Semperis protects critical Active Directory and Entra ID environments from cyberattacks, ensuring rapid recovery and business continuity when every second counts. Visit semperis.com to learn more. Links Connect with Marc on LinkedIn Connect with Sean on LinkedIn Connect with Jeff on LinkedIn Don't miss future episodes Learn more about Semperis HIP Conference 26 is coming to Nashville, September 8–10, 2026. Join us to explore this year's theme, Redefining Resilience, at the world's premier practitioner-led conference focused on securing hybrid identity environments. If you love the conversations on the HIP Podcast, this is where the community comes together in person. Learn more and register at https://www.hipconf.com/.