Representatives of the Uniswap cryptocurrency exchange announced the implementation of the Uniswap Restricting Wallets program. It involves restricting access to the platform for suspicious wallets that may be associated with fraud and other criminal activities. The management of the service stated that in this way they would stop any illegal actions on their own site.
The firm assured that they entered into a partnership agreement with TRM Labs, which is responsible for the safety and security of network data. The developers are integrating the ability to calculate suspicious wallets that may be associated with cybercriminals and will prevent them from accessing the decentralized platform.
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Thus, Uniswap Labs implements an anti-crime system aimed at combating money laundering, as well as ransomware and hacking. From now on, TRM Labs will investigate crimes and provide the necessary information to Uniswap.
The startup team assured that now citizens under sanctions, terrorists and other criminals will not be able to benefit and exchange their cryptocurrency assets.
Such a decision is connected with the desire of the management of the decentralized platform to support the policy of regulators, who are seriously concerned about the problem of cyber fraud after the 600 million Ronin network was hacked. The organization said that they want to comply with the requirements of the US Treasury and the Office of Foreign Assets Control (OFAC).
Earlier edition informed that Tornado Cash said that now their platform, designed to mix Ethereum transactions, will restrict access to wallets that are under international sanctions and are associated with criminal activity.