5 days after the Harvest Finance Hack: what we know so far

Early Monday, the decentralized finance (DeFi) protocol Harvest Finance was exploited by an unknown attacker, who drained about $25 million in value and swapped for renBTC (rBTC). This incident has risen again and even heated the debate on whether this kind of flash loan-based arbitrage attacks are really “hacks”. Technically, the »

The Ultimate Guide for implementing a RBA based on FATF latest guidelines on virtual assets indicators

Implement a risk-based approach to comply with the source of funds & transaction monitoring requirements according to FATF Virtual Assets Red Flag Indicators report for ML/TF. Download here: https://scorechain.com/FATF-redflag-indicators-report Cryptocurrencies and digital assets have raised many concerns for regulators over the past few years. With increasing usage and increasing business opportunities for many industries, »

FCA: Annual Financial Crime Report to be extended; cryptoasset businesses included

This August, the Financial Conduct Authority (FCA) in the UK published a consultation paper. The paper proposes to extend the scope of firms required to provide Annual Financial Crime Report (REP-CRIM) information. It should include firms that carry on regulated activities considered to potentially have higher money laundering risk, such »