The BitMEX exchange announced the introduction of additional tools of the analytical company Chainalysis to track illegal cryptocurrency transactions.
As part of a long-term partnership with Chainalysis, the exchange is introducing additional services to enhance its ability to detect, investigate and prevent illegal transactions, according to a BitMEX blog post. The exchange is already using Chainalysis’s Know Your Transaction (KYT) tool to track suspicious transactions.
Malcolm Wright, Chief Compliance Officer for the parent company of the exchange 100x Group, said:
“As a responsible participant in the cryptocurrency industry, it is imperative for us to maintain comprehensive and flexible legal compliance in order to identify intruders and illegal transactions. Chainalysis offers an innovative solution that keeps us vigilant against these threats, and we’re excited to partner with them. ”
In November, BitMEX announced a partnership with Eventus Systems to track suspicious transactions and comply with anti-money laundering (AML) regulations.
Recall that in October last year, the US Commodity Futures Trading Commission (CFTC) filed a lawsuit against the BitMEX exchange, accusing it of illegal activities in the US, as well as violating KYC and AML rules. Due to government allegations, Chainalysis has listed the exchange as a high-risk platform.
According to court documents published in November, BitMEX executives withdrew more than $ 440 million from the exchange after it became known about the investigation of the company’s activities by the American regulator. These events almost did not affect the work of the exchange.