AMLBot Blog (Page 2)

⚠️ Don’t Get Tricked by Fake AMLBot Platforms: Protect Your Crypto from Scammers ⚠️

⚠️ Don’t Get Tricked by Fake AMLBot Platforms: Protect Your Crypto from Scammers ⚠️

We’ve recently identified an alarming rise in scammers impersonating AMLBot on various platforms — including emails, Telegram, and even fake websites — to steal users’ cryptocurrency. These fraudsters create convincing copies of our brand and services to trick individuals into trusting them. If someone contacts you claiming to be from “AMLBot

AMLBot Continuous Transaction Monitoring 🔍

Product Updates

AMLBot Continuous Transaction Monitoring 🔍

Transaction Monitoring — and its specialized counterpart, Know Your Transaction (KYT) are no longer a choice for crypto startups — it’s a foundational expectation. Whether you’re pursuing licensing, opening fiat on-ramps, or partnering with traditional financial institutions, the ability to detect and respond to suspicious activity is paramount. That’s

Honey Trap: How Address Poisoning Scammed $50K — and How It Was Recovered

Investigations & Case Studies

Honey Trap: How Address Poisoning Scammed $50K — and How It Was Recovered

What Happened? Earlier this year, a Czech company fell victim to an address poisoning scam scheme, resulting in the loss of $50,000+ in USDT. The scam exploited the company's operational routine, targeting its treasury wallet and leveraging address similarities to divert funds to a malicious actor'

Bermuda's Strategic Approach to Crypto Business Regulation: A Comprehensive Overview

Bermuda's Strategic Approach to Crypto Business Regulation: A Comprehensive Overview

The Bermuda Monetary Authority (BMA) recently outlined its sophisticated framework for crypto regulation, demonstrating why this jurisdiction is emerging as a premier destination for digital asset businesses. During an exclusive webinar, BMA representatives detailed their innovative approach to oversight and licensing in the crypto sector. Strategic Regulatory Framework At the

Comprehensive Analysis of Stablecoin Transfers, Compliance, and Ecosystem Dynamics

Investigations & Case Studies

Comprehensive Analysis of Stablecoin Transfers, Compliance, and Ecosystem Dynamics

For more insights into stablecoin market dynamics, you may also be interested in our previous report analyzing illicit activity patterns in USDT and USDC transactions. Download Full Report 1.Abstract 2.Scope of Research In this report the following three top stable coins are analyzed: USDT, USDC and BUSD. In

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

Investigations & Case Studies

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

Investigations & Case Studies

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

Product Updates

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?

Investigations & Case Studies

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

Product Updates

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

Investigations & Case Studies

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 & Case Studies 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

Investigations & Case Studies

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

Investigations & Case Studies

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)

Product Updates

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