LONDON ⎯ AMLBot, the full-fledged crypto compliance solution, today announced that action had been taken in response to a warning that its APIs are likely being used by Antinalysis.
Antinalysis is a blockchain analytics tool that allows users to check bitcoin addresses for links to illegal activities.
AMLBot immediately blocked Antinalysis's account and conducted an internal investigation. The investigation results, including all addresses used by Antinalysis, were handed over to UK law enforcement authorities.
These addresses were also sent to key market players and added to a tracking database to more effectively combat money laundering.
Following the investigation, the Antinalysis account was permanently closed. The source of the problem was identified and corrected. AMLBot is working on intelligent measures to prevent similar registrations in the future.
The company has begun re-screening all existing clients and monitoring user requests for Antinalysis-like behavior patterns. The algorithm for continuous monitoring of customer behavior and requests has been updated.
The company brought on board an additional anti-money laundering officer to track all its customers with greater accuracy.