Published: 29.04.2022
Article reading time:
1 min.
Coinbase has introduced a new line of Coinbase Intelligence, which includes a tool for tracking and identifying transactions (KYT), as well as updates to the Coinbase Analytics product.
Coinbase KYT will allow third-party companies to detect cryptocurrency transactions related to illegal activity, according to an article on the company’s blog. Using the API, exchange clients will be able to track such transactions in real time, while a special scoring system will assign a certain “risk level” to transactions.
The Coinbase Analytics product was previously used internally by the exchange. However, it has now been updated, renamed Coinbase Tracer, and made available to third parties. Coinbase Tracer will reduce the risk of fraud and more carefully track the movement of funds.
“We have also updated the user interface to be more friendly, attractive, and consistent in design with other Coinbase products,” the article notes.
In mid-April, the Bank of Russia reported that the number of financial pyramids using cryptocurrencies had increased in the country. If in 2019 there were 237 Ponzi schemes recorded in the country, then in 2021 there are already 871, of which more than half (460) are associated with digital assets.
Source: Bits
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