CoinGecko, AMLT network team up to combat fraud

Monday 19 August 2019 10:32 CET | News

Crypto market aggregator CoinGecko has joined the network of blockchain analytics and AML company Coinfirm.

This partnership will reportedly allow CoinGecko to facilitate its exchange Trust Score algorithm and provide users with a means to report scams and hacks. As Coinfirm runs the AMLT network that allows members to report cryptocurrency addresses tied to hacks, ransomware, scams, and fraud, it blocks these users and funds across the AMLT network. Moreover, in return for supplying good information, Coinfirm rewards its members with the AMLT token, which can be used to purchase goods and services from Coinfirm.

CoinGecko plans to facilitate its exchange Trust Score calculations, which is a mechanism for ranking exchanges by their actual liquidity by means of the partnership. CoinGecko intends to make use of the AMLT Token Network alongside Coinfirm’s Analytics and AML Platform in bolstering its ranking system. Also, users will be able to see KYC and AML insights provided by data on the CoinGecko website, as well as to see Coinfirm’s proof-of-reserves exchange estimates. Individual users will be able to submit information on scams and hacks tied to crypto addresses, via a widget, and will likewise be rewarded in AMLT tokens.

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Keywords: CoinGecko, partnership, AMLT, network, fraud, scams, hacks, Token, cryptocurrency, KYC, AML, exchange, ransomware, fraudulent activities, blockchain
Countries: World

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