Yesterday, September 29, the popular decentralized exchange aggregator 1inch began identifying US users by IP address and blocking their transactions.
This decision is due to the regulatory environment in America and plans to launch a separate site for US users. The restrictions were
spelled out in the policy of using the service in the spring of this year, but until now there were no real restrictions. The warning says:
“It looks like you are trying to access a 1inch decentralized app from a restricted area, or using a VPN that shows you are there. We respect your privacy, but please change your VPN settings to match your real location. ”
1inch PR director Sergey Maslennikov said that the service simply added an additional warning and a technical level to monitor the user’s location. He noted:
“1inch is in the process of fundraising in the Series B round. It has already raised $ 175 million against a planned volume of $ 70 million. A significant part of the funds will go to the development and launch of the 1inch Pro platform, designed specifically for the US market and institutional investors from around the world. It will fully comply with the requirements of the regulators. ”
In August, the 1inch decentralized exchange aggregator was launched based on the second-tier solution for the Ethereum network Optimism. Then the founder of the project, Anton Bykov, said that the solution would reduce transaction fees by 2-10 times.
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