AMLBot Blog: Crypto News & Guides

Hacked by a Dream Job: A Case Study on Web3 Job Scams

Hacked by a Dream Job: A Case Study on Web3 Job Scams

"Finally, I've got the job…No, you just got scammed :(" For many, receiving an offer is a moment of excitement. It's the recognition of skills, the chance for new prospects, and even the start of a dream career. But what happens when that dream

Emotional “Investments”: The Price of Falling for a Pig Butchering Scam

Emotional “Investments”: The Price of Falling for a Pig Butchering Scam

Pig butchering scams are a cunning blend of romance fraud and approval phishing, designed to “fatten” victims financially and emotionally before draining them dry. These scams begin with casual chats and result in significant financial losses, leaving victims isolated and embarrassed. What makes pig butchering scams so effective is the

AMLBot’s Risk Score Update: New Personal and Business Modes

AMLBot’s Risk Score Update: New Personal and Business Modes

We’ve redefined our Risk Score to cater to the unique needs of individuals and businesses, comply with recent regulations, and prevent bad actors from abusing our service. Why the Update? At AMLBot, our goal is to provide relevant and actionable insights. That’s why we’ve developed two distinct

AMLBot and Notabene Join Forces to Strengthen Crypto Security and Compliance

AMLBot and Notabene Join Forces to Strengthen Crypto Security and Compliance

We are excited to announce a new strategic partnership between AMLBot and Notabene, uniting two industry professionals to help businesses and individuals meet the legal requirements of the Travel Rule and ensure safer, more transparent crypto transactions. With increasingly stringent regulatory frameworks, complying with the Travel Rule—a key global

How LetsExchange Achieved a 10X Boost in Compliance Efficiency with AMLBot?

How LetsExchange Achieved a 10X Boost in Compliance Efficiency with AMLBot?

Launched in September 2021, LetsExchange is one of the fastest-growing crypto-exchange platforms in the European Union. It supports over 4,000 digital currencies—more than any other exchange on the market. LetsExchange is designed to deliver a seamless, secure, and fast user experience by offering deep liquidity, cross-chain swaps, and

KYC Update: Smarter, Faster, and More Secure

Product Updates

KYC Update: Smarter, Faster, and More Secure

We are excited to introduce a significant update to one of our core products – KYC (Know Your Customer)! The latest release includes new features to streamline the onboarding process, offering businesses more flexibility in meeting regulatory requirements while improving user experience. Key Upgrades: * Enhanced Stability & Improved Design: The user

FAQ Risky Transaction Reporting

FAQ Risky Transaction Reporting

Our clients' most frequently asked questions, answered: This blog covers what qualifies as a high-risk transaction, how to manage them, and what steps to take if a transaction is flagged. From enhanced due diligence to blocking or unfreezing funds, it provides essential answers for navigating these challenges. 1. What

Compliant Memecoin Launch: Beercoin’s 35K+ Wallets Verified

Compliant Memecoin Launch: Beercoin’s 35K+ Wallets Verified

Beercoin ($BEER) is a Solana-based community-focused token that has quickly captured the attention of the global crypto community. Within just days of its launch, Beercoin gained over 300,000 followers and completed a $5 million pre-sale. Last June, they reached a market cap of $309 million. The project describes itself

The High Cost of Non-Compliance: AML and KYC Explained

The High Cost of Non-Compliance: AML and KYC Explained

Financial regulators worldwide are increasingly insisting that digital asset service providers comply with the same rules as traditional banks. Amid ongoing debates on privacy and security, proper AML and KYC measures are instrumental in preventing the unlawful use of cryptocurrencies. Overview of AML and KYC In the crypto space, AML

EQIBank Reduces Onboarding Costs By 50% After AMLBot Partnership

EQIBank Reduces Onboarding Costs By 50% After AMLBot Partnership

EQIBank stands as a leader in digital banking, serving clients in 180+ countries. Founded by veterans from HSBC, Credit Suisse, Bank of New York, and UBS, the bank boasts over 240 years of combined expertise in finance and blockchain. Since acquiring its banking license in 2018, it has set a

Tracing WazirX Hack with AMLBot Pro

Tracing WazirX Hack with AMLBot Pro

The $235 million hack on Indian cryptocurrency exchange WazirX on July 18 has intensified scrutiny over the security of digital asset platforms and sparked a comprehensive investigation. The hacker moved approximately $234.9 million worth of funds to a new address, using assets funded through the cryptocurrency mixer Tornado Cash.

The MiCA Effect: Stablecoins, Compliance Challenges, and Circle's Case Study

The MiCA Effect: Stablecoins, Compliance Challenges, and Circle's Case Study

The Markets in Crypto Assets Regulation (MiCA), partially enacted on June 30, 2024, aims to promote innovation by setting clear guidelines for crypto asset service providers throughout the EU. MiCA's primary objective is to create legal certainty for businesses operating within the crypto space while ensuring robust consumer

Partnership to Bridge Security and Compliance

Partnership to Bridge Security and Compliance

AMLBot and Nefture are pleased to announce a new partnership aimed at addressing the security and compliance needs of Web3 companies and crypto asset managers. Nefture, specializing in blockchain security, offers a multilayered approach to on-chain security. Their services include protection against crypto threats, exploits, hacks, scams, and financial risks

Sanctions Risk Management for Crypto Businesses

Sanctions Risk Management for Crypto Businesses

In our third episode of AMLBot Stream podcast, we spill all the details. Don’t miss this essential guide to Sanctions Risk management! Whether you're in the crypto industry or just interested in learning about compliance in crypto, this episode is packed with valuable insights, presented by our

How AMLBot Investigators Traced Stolen Crypto from a Linkedin Investment Scam

Investigations Featured

How AMLBot Investigators Traced Stolen Crypto from a Linkedin Investment Scam

Discover how our crypto recovery services helped a victim of fraud recover the majority of their stolen assets in collaboration with Law Enforcement.

Client Case Study: Securing VASP Registration with Central Bank of Ireland

Client Case Study: Securing VASP Registration with Central Bank of Ireland

By incorporating AMLBot’s compliance tools, including our Know Your Transaction (KYT) software, Fortuna was able to meet the regulatory requirements and obtain the VASP registration with Central Bank of Ireland.

Crypto Compliance Guide: Best Practices for Customer Due Diligence (CDD)

Crypto Compliance Guide: Best Practices for Customer Due Diligence (CDD)

Eliminating every risk is impossible, especially in an industry like cryptocurrency, but developing a robust customer due diligence (CDD) process is the best way to protect your company's interests. In many countries, CDD isn't a matter of choice. It's a requirement that cryptocurrency exchanges,

Crypto Crime Typology: Deciphering Pig Butchering Scams

Crypto Crime Typology: Deciphering Pig Butchering Scams

Welcome to AMLBot Stream Podcast Episode 2! Today’s topic is the Pig Butchering Crypto Scam, Graeme Hampton, (Anti Money Laundering Advisor at AMLbot and Co-Chair with the International Association for Trusted Blockchain Applications) podcast host, speaks on this rising deception scam targeting unsuspecting victims. You can listen or subscribe

The Art of Operational High Risk Management in Crypto: How to Mitigate Risk and Keep Safe

The Art of Operational High Risk Management in Crypto: How to Mitigate Risk and Keep Safe

Welcome to AMLBot Stream Podcast Episode 1! One of the most asked questions we receive from our clients at AMLBot is, "What are the best ways to mitigate high-risk to keep us safe?" Today, Graeme Hampton, (Anti Money Laundering Advisor at AMLbot and Co-Chair with the International Association

Introducing AMLBot Pro: Powerful Blockchain Analytics Tool (Updated)

Introducing AMLBot Pro: Powerful Blockchain Analytics Tool (Updated)

What Is AMLBot Pro? We are pleased to introduce AMLBot Pro, a comprehensive blockchain analytics tool designed for professionals in compliance and blockchain investigation. It offers valuable insights into cryptocurrency transactions, supporting crucial Anti-Money Laundering (AML) and Know-Your-Customer (KYC) processes. With AMLBot Pro, users can efficiently monitor transactions, trace the

The Crypto Investor's Guide: Assessing AML Compliance in Crypto Projects

The Crypto Investor's Guide: Assessing AML Compliance in Crypto Projects

Anti-money laundering (AML) compliance should be a top concern if you're a crypto investor. However, many crypto users know very little — if anything — about what an AML governance regulation is and what it means in the industry. Experts project that the number of crypto investors will reach nearly

Stablecoin Report: USDT and USDC Illicit Activity Study

Stablecoin Report: USDT and USDC Illicit Activity Study

The report is focused on comparing the two most popular stablecoins by market share - USDT issued by Tether and USDC issued by Circle - in terms of the magnitude of illicit activity associated with both stablecoins. USDT, known for its wide usage across various blockchain platforms, particularly the Tron

Reducing Crypto Fraud: Automated KYC Best Practices

Reducing Crypto Fraud: Automated KYC Best Practices

Automated KYC is one of today's biggest crypto security trends, and for good reason. By switching from manual to automatic know-your-customer (KYC) checks, companies in the cryptocurrency space can achieve better customer outcomes. They can also avoid expensive penalties for violating anti-money laundering (AML) regulations. If the concept

Frozen Assets on CEX : Sanctions Exposure Case

Frozen Assets on CEX : Sanctions Exposure Case

In 2023, the AMLBot investigation team detected that individuals failed to comprehend the potential consequences of disregarding basic safety guidelines. Unexpected sanctions exposure challenges can arise, as was the case when a client approached us with concerns about a frozen account linked to suspected sanctions. The Case A client contacted

Is it possible to return the stolen crypto? The successful AMLBot investigation story of the 650,000 USDT theft.

Is it possible to return the stolen crypto? The successful AMLBot investigation story of the 650,000 USDT theft.

Many believe that recovering stolen crypto funds is a lost cause. However, AMLBot, with its proven expertise in handling such cases, is here to debunk this myth. The Case AMLBot was contacted by a client with the request to investigate the loss of 650 000 USDT from its business wallet.