What is Ethereum? Ethereum is a blockchain with a native cryptocurrency Ether (ETH). It has been created in 2015 by the programmer Vitalik Buterin. The Ethereum blockchain allows users to transfer Ether between them. Besides, and unlike the Bitcoin blockchain, the Ethereum blockchain allows users to build decentralized applications (DApps) »
Key takeaways: FATF identified a trend in the use of methods to increase anonymity to launder illegal proceedings. Blockchain analytics can help mitigate crypto-related risks. Using cryptocurrencies for money laundering (ML) / terrorism financing (TF) or fraud purposes is not new and this is why worldwide regulators are putting in »
Key takeaways: On Aug. 19, Liquid exchange announced it had suffered a hack on its Twitter account. The exchange reported several addresses linked to the hack and is investigating the funds’ movements. The hacker is depositing the funds on several crypto platforms. Liquid exchange hacked: what happened? On August 19, »
Key takeaways: DeFi attracts more and more users, bringing AML and fraud risks to the crypto industry though. Regulators might be issuing DeFi regulations soon. The decentralized finance (DeFi) industry has been booming since mid-2020 and gathers more and more users. Indeed DeFi platforms such as decentralized exchanges (DEX), lending, »
Key takeaways: Since last year, there has been a boom in the usage of DeFi protocols and platforms, and amongst them DEXs. An increased risk of ML/TF derives from DeFi and DEXs due to a lack of KYC/AML standards. Scorechain released a report to analyze the state of ML/TF through »
The leading Risk-AML software for cryptocurrencies can now provide Scoring & Red flags for transactions processed through decentralized exchanges to prevent money laundering and reduce criminal activity through DeFi. Scorechain is able to provide AML/CTF for any Dex trades Decentralized Finance (aka. DeFi) is widely used today and is becoming »
Last Friday the Singapore based crypto-exchange, Kucoin, was hacked with an estimated loss of around $150 million, including BTC along with BSV, LTC, XLM, Omni and EOS based tether (USDT), ether and ERC20 tokens, and XRP. During the early morning of last Sunday, the hacker started to launder a part »
