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Binance processed $7.8 Billion worth transactions for Iranian crypto exchange Nobitex despite US sanctions

Binance is a leader in global cryptocurrency exchange services. Being a centralized exchange, it operates legally in several jurisdictions where it was granted the license to conduct its business. Regulatory oversight tries to keep crypto trading venues, like Binance, in check, keeping them from indulging in risky behavior with user

In-Depth Look At The $28M Deribit Exchange Wallet Exploit

In-Depth Look At The $28M Deribit Exchange Wallet Exploit

First few days of November 2022 hasn’t been very kind to the crypto exchange Deribit, as it suffered a hack of 28 Million $ in BTC and ETH as its hot wallet was compromised. However, Deribit has clarified that 99% of its funds are stored in cold wallets and the

Top 10 Best-Regulated Crypto Exchanges

Top 10 Best-Regulated Crypto Exchanges

The emergence of cryptocurrencies to the forefront of finance as a prominent investment vehicle is no surprise to anybody. Their revolutionary use cases drive investor confidence, and the need to acquire these decentralized assets is shooting up. Moreover, sufficient liquidity required for the burgeoning demand is being maintained by centralized

Trezor и Wasabi объединяют усилия, чтобы сделать биткоин более конфиденциальным.

Trezor и Wasabi объединяют усилия, чтобы сделать биткоин более конфиденциальным.

Оба проекта заявили, что в следующем году они выведут CoinJoin на аппаратные кошельки. Trezor, компания, которая является создателем одного из самых популярных криптокошельков, объединилась с проектом по обеспечению конфиденциальности Wasabi, чтобы внедрить технологию смешивания CoinJoin для транзакций Bitcoin на своих аппаратных кошельках. Оба проекта официально объявили о сотрудничестве в понедельник

KYC- и AML-проверки: для чего они нужны и как их использовать в бизнесе

KYC- и AML-проверки: для чего они нужны и как их использовать в бизнесе

Что такое KYC-процедура и почему ей уделяют так много внимания? Рассказываем, как она сможет уберечь вас от мошенников, сохранив анонимность. KYC- и AML-проверки: для чего нужна верификация личности в криптовалютной сфере. KYC (Know Your Customer) – процедура верификации личности клиента и оценки потенциальных рисков от него. Но зачем она нужна и

What Are AML Audits and Why Do Businesses Need Them?

What Are AML Audits and Why Do Businesses Need Them?

The word audit is enough to strike fear and dread in any manager or business owner. It can inspire nightmarish visions of paperwork and penalties, and it's something many organizations do their best to avoid. An AML audit, however, is actually an excellent way for businesses to bolster

Blockchain Analytics: What It Is and How It Works

Blockchain Analytics: What It Is and How It Works

Blockchain technology has revolutionized financial transactions, creating a more efficient and transparent system that has garnered the attention and support of industries ranging from retail to healthcare. Unfortunately, bad actors have also taken note of the potential of cryptocurrency and have exploited the vulnerabilities of the blockchain for criminal purposes.

Virtual Asset Service Providers: What They Are and Why They Matter

Virtual Asset Service Providers: What They Are and Why They Matter

With new technology comes unfamiliar terminology, not to mention changes in regulations, requirements, and laws. All of these developments can quickly become challenging for businesses to navigate, and the failure to keep up can lead to disastrous results. In the world of blockchain technology, one of the most important and

How to work if you are considered a scam?

How to work if you are considered a scam?

The Problem One of the most popular tools among users of crypto assets is exchange services. People exchange cryptocurrencies to fiat money and back in the millions of dollars a day all over the world. And in order to provide such large traffic, new exchange services are appearing on a

How to Get Filthy Rich in a Matter of Hours – A Crypto Researcher’s Ponzi Schemes Lights the Way

How to Get Filthy Rich in a Matter of Hours – A Crypto Researcher’s Ponzi Schemes Lights the Way

If anyone ever thought that making money on the crypto market was no longer as easy as it was back in the 2017 era, they are dead wrong. The thesis was proven by crypto influencer FatManTerra, who states that he managed to attract in excess of $100,000 in Bitcoin

UK: New Rules for Cryptocurrency Exchanges

UK: New Rules for Cryptocurrency Exchanges

The United Kingdom’s financial authorities, the Treasury’s Office of Financial Sanctions Implementation, introduced new guidelines for the operation of cryptocurrency exchanges in the country. The new rules stipulate numerous restrictions and requirements regarding sanctions regimes and oblige all exchanges and wallets operating in the UK to report on

Most Common Ways You Can Be Scammed

Most Common Ways You Can Be Scammed

The cryptocurrency market is extremely diverse and full of perils. The fact is that its lack of legal frameworks and oversight makes it a lucrative arena for the activities of various scammers. Ponzi schemes, rug-pull tactics, even outright fraud are commonplace. Market participants often feel helpless when encountering such unrestricted

How to Get Rid of the Bad Reputation of a Project?

How to Get Rid of the Bad Reputation of a Project?

Problem Many projects appear every day in the world of cryptocurrencies and blockchain. And most of them often run token sales - a very popular way for attracting investments. The company arranges a public sale of its tokens - different people invest in the project. Of course, the funds raised

Wintermute Case, the Pentagon’s Interest in Crypto, “Vanity address” Hack, and other late-September Crypto News

Wintermute Case, the Pentagon’s Interest in Crypto, “Vanity address” Hack, and other late-September Crypto News

Late September was full of crypto news. Various scams and hacker attacks were at the center of attention. Even in 2022, the crypto industry is still not the safest place. That’s why we at the AMLBot team decided to start a series of educational articles to help you steer

Why Are So Many Crypto Exchanges Banned in the U.S.?

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Why Are So Many Crypto Exchanges Banned in the U.S.?

It is no secret to anyone that the United States is not the most favorable place for cryptocurrencies and many exchanges, though having originated in the US, have found their demise there as well. The just question that arises from such a paradox is related to why so many crypto

MiCA vs. Biden’s Framework – The Battle of the Crypto-Regulations Heats Up

MiCA vs. Biden’s Framework – The Battle of the Crypto-Regulations Heats Up

The Biden administration recently released its framework on the regulation of crypto assets. The news comes mere months after the EU announced its MiCA framework. Such a dualistic approach to crypto regulation is one that deserves extremely careful attention and constant monitoring. The introduction of some state-established clarity onto the

Know Your Transaction (KYT)

Know Your Transaction (KYT)

Transaction laundering, also known as undisclosed aggregation, occurs when a merchant processes illegal transactions on behalf of another business. Front merchants may be in collusion with the violating business or unaware that the transactions are fraudulent. Governments throughout the world have recently started passing Anti-Money Laundering (AML) legislation that specifically

How can a Crypto Wallet Work without Problems with Regulators and its Reputation?

How can a Crypto Wallet Work without Problems with Regulators and its Reputation?

The Problem The more crypto enthusiasts there are in the world, the more services appear for storing assets - crypto wallets. They are of various types - cold, hot, centralized, non-custodial, for every taste and color, for any request. But the main desire of any user is to know that

Introducing New AMLBot: An Evolution of The Brand

Introduction Three years back, when we assembled the team, we had the vision to position ourselves as an ambitious and competitive project that would make compliance services available to everyone, and that would be serving top-quality innovative projects. After a successful launch, we have attracted thousands of users from the

Grand Theft Crypto: Terra’s Case, FTX VS UK Authorities, and Other Mid-September Crypto News

Grand Theft Crypto: Terra’s Case, FTX VS UK Authorities, and Other Mid-September Crypto News

Last week was full of theft and fraudulent cases. But nobody can escape from the law. Even the most cunning minds on Earth. Find out how the authorities dealt with crypto criminals all around the world. Do you want to stay safe while exploring the crypto world? Check out our

The Sad Tale of the Bestxbit.com Platform: a Dissection Case

The Sad Tale of the Bestxbit.com Platform: a Dissection Case

It is unfortunate, but true – many cryptocurrency services operating on the market are outright scams. We routinely examine multiple platforms, both at our own initiative and at the request of users. In this material, we will explore how we came upon the Bestxbit.com platform, what we made of it,

KYC and AML Practices, Sanctions, Crime, Fraud, all are Facts of Life for Centralized Exchanges, and they have to Cope.

KYC and AML Practices, Sanctions, Crime, Fraud, all are Facts of Life for Centralized Exchanges, and they have to Cope.

The application of Know Your Customer and Anti-Money Laundering procedures is mandatory for centralized exchanges seeking to go global. But even the exchanges from the top of the list cannot always comply with all of the requirements of international sanctions regimes to avoid lost revenues. This is where the operations

Why Do Traders Need AML?

Why Do Traders Need AML?

The Problem In the modern world, money and assets are in priority. To achieve maximum well-being, people often go in search of additional or passive income. One of the most popular ways to increase your social level in our time is trading. Therefore, it is no wonder that companies involved

What to Expect from Current and Future Canada Cryptocurrency Regulations

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What to Expect from Current and Future Canada Cryptocurrency Regulations

Cryptocurrency Regulations in Canada: Past, Present, and Future Cryptocurrency has been one of the most exciting and fast-moving innovations of the 21st century. It has led to financial success for investors around the world, but it also involves a certain level of risk. The Canadian government is working quickly toward

The Ethereum Merge, the End of Terra Labs and a Prank that Worth $100K+, and Other Latest Crypto News

The Ethereum Merge, the End of Terra Labs and a Prank that Worth $100K+, and Other Latest Crypto News

The main crypto news of September 2022 — The Ethereum Merge is officially over. That means that this digital currency has become even more scalable and safe. Eco activists are celebrating too, because it will reduce the energy consumption of one of the biggest chains in the world. But this week