NEW YORK–(BUSINESS WIRE)–Crypto market integrity and risk monitoring leader Solidus Labs announced today the launch of a new real-time on-chain Threat Intelligence tool, designed to help anti-money laundering (AML) teams proactively and preemptively address one of DeFi and Web3’s biggest challenges – smart contract scams. The solution represents a paradigm shift in DeFi risk monitoring, compliance and AML methodologies, which have so far taken a largely retroactive approach to identifying crypto scams and blocking their money flows.
Covering Ethereum and 11 other chains like BNB and Polygon, Solidus’ Web3 AML redefines the compliance approach companies in the digital asset space should adopt to adhere to current anti-fraud and anti-money laundering laws. With this new capability, Solidus enables immediate and accurate detection at scale of a wide and growing array of smart contract scams across the Ethereum ecosystem, from the moment their malicious code is deployed, until their illicit funds reach centralized exchanges, and beyond. It therefore empowers crypto risk and compliance teams to act the moment scams are deployed, to protect users and prevent the acceptance of illicit money flows. The solution also enables entities like decentralized applications and exchanges running on those protocols to flag them for users or limit access to such scams through their user interfaces.
This new risk monitoring technology also provides the most comprehensive…
