Scorechain's Blog

Switzerland requires stricter identity verification for certain crypto transactions

FINMA, the financial regulator in Switzerland, published a partially revised Anti-Money Laundering Ordinance on November 2. The authority enacted the revision following the recent amendments of the Anti-Money Laundering Act and the Federal Council’s Anti-Money Laundering Ordinance. FINMA revises AML requirements for crypto assets The Swiss Financial Markets Regulatory Authority

Scorechain adds support for 14 additional blockchains, including Cardano, Stellar, and Polygon

After announcing a fully redesigned, all-in-one crypto AML platform offering enhanced performance, Scorechain, the leading European provider of compliance solutions for crypto asset regulation, adds support for 14 additional blockchains in its SaaS solution, bringing the blockchain coverage to 23. With this new coverage, Scorechain increased its blockchain monitoring capabilities

The collapse of FTX

FTX collapse: a leading crypto exchange FTX filed for Chapter 11 bankruptcy, announced on November 11. Following this, the company also faced a hack that drained over $500 million from their wallets on the same day. The impact of the FTX crash affects the whole crypto market as crypto assets

Scorechain investigates the FTX hack

FTX suffered a hack, only hours after it had filed for bankruptcy on November 11, 2022. Ryne Miller, FTX US general counsel, confirmed on Twitter that the team was pausing trading and withdrawal functions due to unauthorized access to certain assets. He also clarified that FTX moved crypto assets to

Scorechain releases a fully redesigned blockchain analytics platform for seamless processes regarding multi-blockchain risk analysis

Today, Scorechain is thrilled to announce the release of a brand-new, fully redesigned blockchain analytics platform. The platform now gathers all Scorechain’s supported blockchains, tokens, and AML tools within one single interface. More intuitive and providing enhanced performance, the platform allows customers to further simplify their crypto compliance checks. All-in-one,

Tornado Cash: OFAC’s sanction update

On Tuesday (November 8, 2022), the Office of Foreign Asset Control (OFAC) announced the redesignation of Tornado Cash. The action also designates two individuals involved in the transportation and procurement activities on behalf of the Democratic People’s Republic of Korea (DPRK). OFAC updates Tornado Cash sanction On November 8, 2022,

Deribit loses $28 million after hot wallet hack

Deribit is a crypto exchange based in Panama and launched in June 2016. It’s a well-known cryptocurrency futures and options exchange that allows crypto traders to implement derivatives trading strategies for Bitcoin (BTC) and Ethereum (ETH), and Solana (SOL). On November 2nd, Deribit announced it had suffered a $28-million hack

Outcomes of Financial Action Task Force plenary meeting from October 20-21

Last week, on October 20-21, the latest Financial Action Task Force Plenary took place in Paris. It was the first Plenary under the Presidency of T. Raja Kumar and gathered over 200 participants. What is the Financial Action Task Force (FATF)? The Financial Action Task Force (FATF), is a global

5 things to know about USDT

What is USDT? Tether or USDT is the stablecoin with the largest market capitalization. USDT is a hybrid currency as the token itself is a cryptocurrency, but the value of a single token is pegged to the US dollar. 1. USDT: a fiat-based stablecoin Tether or USDT is a stablecoin

Scorechain joins Qredo for a common offering of Travel Rule Solution

Scorechain, the leading blockchain analytic and crypto compliance solution provider, has partnered with Qredo, a decentralized digital asset management infrastructure, and product suite, for a Travel Rule compliance solution. What is the Travel Rule? The Travel Rule requires virtual asset service providers (VASPs) to share identifying information from senders and