LONDON, 12th March – To help fight crypto scams blockchain asset recovery firm KeychainX joins Coinfirm’s AMLT Token Network.
One of the first companies focused on the recovery of blockchain assets, KeychainX has been helping address a serious issue in the cryptocurrency space as seen recently with the Quadriga controversy among others.
The problem though affects countless individuals and companies and stands as one of the key issues related to the lack of widespread adoption of cryptocurrencies. For many a lack of knowledge and skills on the part of the user, as well as irregularities lying on the technological side stand as the reasons for the loss of access to funds. With that said a very large number of reports KeychainX receives is related to nefarious activities that are extremely difficult to solve due to their specificity and the circumstances in which they occur.
“The partnership with Coinfirm’s AMLT Network allows us to effectively share information about fraud and related activities in a way that protects users and the integrity of the crypto economy as a whole. Until now the market didn’t have much of an option or that sort of ability to not only have an effective voice but have benefits from it. Building a network of like-minded individuals and companies attached to AMLT and the Coinfirm AML Platform gives the market that solution and will help limit the potential risk of fraud.” – Maksym Chrost, Founder of KeychainX
For Coinfirm – the leading RegTech company focused on blockchain and cryptocurrencies – KeychainX marks another synergistic Member added to Coinfirm’s AMLT Network.
“KeychainX is exclusively focusing on solving a major need in the crypto space and one that obviously ties into some of what Coinfirm and AMLT are pushing towards. Better security, safety, and transparency of the blockchain market lead to faster and better mass adoption. As the AMLT Network grows so will the effectiveness of it and as of now we have an array of entities participating ranging from exchanges to now blockchain asset recovery companies, I’m glad KeychainX has added another class of Network Members that will benefit from participating.” – Grant Blaisdell, Co-Founder and CMO of Coinfirm
One of the first companies providing asset recovery services exclusively focused on blockchain and cryptocurrency, KeychainX will start off their collaboration with the AMLT Network by submitting data it has collected on nefarious action related addresses in the past.
After the initial data submission of past cases, KeychainX will have an ongoing program that submits relevant data into the Network via API. For each submission deemed valid by the AMLT and Coinfirm data science team, KeychainX will receive AMLT tokens as a reward in return that they will then use for payment for Coinfirm’s tools that KeychainX will use to better investigate lost blockchain assets.
If you’re interested in partnering with Coinfirm or becoming an AMLT Network Member then contact us!