Huobi Group rolls out transaction intelligence tool to freeze suspicious accounts

Tuesday 14 April 2020 04:15 CET | News

Huobi Group has rolled out an in-house transaction intelligence tool called ‘Star Atlas’ to detect illicit activity across its crypto exchanges.

The new program will automatically freeze accounts deemed to be engaging in ‘suspicious’ transactions until a compliance officer follows up on the case. It will help Huobi’s exchanges target abnormal behaviours and problematic transactions in real time.

In terms of illicit behaviour patterns, Star Altas will reference a trove of blacklisted addresses in its monitoring of user transactions. Furthermore, the program will help the group’s exchanges crack down on cybercriminals whose shady dealings imperil crypto for many rule-following users.

Star Atlas’ launch comes as Huobi prepares to re-enter the US market with an unnamed regulated partner, according to CoinDesk.
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Keywords: Huobi Group, cryptocurrency, transaction monitoring, crypto exchange, fraud prevention, illegal funds
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: China
This article is part of category

Blockchain & Cryptocurrencies