March 12, 2022 / news

Chainalysis Announced Developed Tools To Identify Sanctioned Wallets

The analytical company Chainalysis has developed two tools for checking cryptocurrency wallets for their inclusion in the sanctions lists:

Chainalysis noted that cryptocurrencies have become a strong tool for collecting donations to Ukraine, but they can also be used by Russia and its citizens to evade sanctions.

The company noted that the aforementioned tools are free and are primarily designed for DEX, DeFi platform, DAO, and dApps.

Chainalysis provides blockchain tracking tools to government agencies and law enforcement, and helps crypto companies such as exchanges identify high-risk wallets.

In particular, despite the fact that financial institutions are forbidden to work only with certain financial institutions and specially designated citizens of the country, in connection with the continuation of operations in Russia, cryptocurrency exchanges have come under close monitoring.

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