Scorechain's Blog

USDT TRC20 analytics: how to implement AML checks?

USDT TRC20 transactions on the Tron blockchain have increased, as shown in the image below. There are currently more USDT transfers on the Tron blockchain than on the Ethereum blockchain, which remain one of the largest today. As USDT TRC20 is one of the top traded tokens on Tron, it

Audius hack: 18 million AUDIO tokens stolen

Audius hack: exploit of the platform’s governance  On July 23, Audius, a decentralized music streaming platform, was exploited for $1 million. The Audius hack was due tcompromised bugised in the platform’s governance, staking, and delegation contracts. It allowed the hacker to exploit the platform’s voting system and change the amount

Anatomy of a Crypto Hack report – 4 Big Hacks in review

Scorechain’s Anatomy of a Crypto Hack report is now available for free download. The Anatomy of a Crypto Hack report covers the following topics: 3 of the most common crypto laundering techniques; How blockchain analytics help mitigate money laundering risks; Review of 4 big crypto hacks; and The impact of

What are NFTs and how to mitigate related money laundering risks?

What are NFTs? An NFT, short for “non-fungible token”, is a non-fungible unit of data stored on a Blockchain. Each NFT represents a unique type of digital content, which owners can sell and exchange. NFT data unit types can represent different kinds of digital files such as photos, videos, and

What is Tezos? 5 things to know about the blockchain

Recently, Tether, the company behind USDT, the largest stablecoin by market capitalization, announced that it would launch the stablecoin on the Tezos blockchain. But, what is Tezos? Tezos is a decentralized, open-source blockchain-based network with a native cryptocurrency created in 2018. As of June, Tezos accounts for 108,200,200+ transactions and

What is the state of crypto regulation in Lithuania?

What is the current crypto regulation in Lithuania? On June 8th, the Ministry of Finance in Lithuania approved amendments to the country’s AML/CFT Law. The amendments aim to increase the transparency of the crypto-asset sector. The amended provisions include, for example: More stringent KYC processes; A ban on anonymous crypto

Inverse Finance exploit: $1.2 million lost in a flash loan attack

Inverse Finance has once fallen victim to an exploit. On Thursday, the DeFi protocol lost $1.2 million after suffering a flash loan attack. Inverse Finance suffers two exploits within just two months Inverse Finance is a decentralized DeFi protocol with a total value locked of $11.08 million. On June 16th,

UK’s consultation regarding proposed safeguards against stablecoin failure risks

Following the collapse of Terra stablecoin UST, the UK government released a consultation paper proposing safeguards to prevent stablecoin failure risks. Stakeholders have until August 2nd to share their feedback on the matter. What is a stablecoin? A stablecoin is a specific type of crypto asset that is pegged to

France: The AMF updates its VASP doctrine

French version below – Last week, the regulator overviewing crypto-assets in France, the AMF, announced updating its doctrine on virtual asset service providers (VASPs). The regulator updated the doctrine to include evolving products and business models from the industry’s players. The AMF doctrine clarifies registration for staking and lending services

Binance regulated in Italy: what is the state of crypto regulation?

Binance Italy receive approval from the local regulator Last Friday, Binance, the cryptocurrency exchange, announced that it was regulated in Italy. Its Italy branch secured a virtual asset service provider (VASP) registration the Organismo per gli agenti e mediatori (OAM). Registration with the OAM is a requirement set forth by