BitMEX announced the introduction of additional tools from analytics company Chainalysis to track illegal cryptocurrency transactions.
According to a BitMEX blog article, as part of a long-term partnership with Chainalysis, the exchange is introducing additional services to enhance its ability to detect, investigate and prevent illegal transactions. The exchange is already using Chainalysis' Know Your Transaction (KYT) tool to track suspicious transactions.
Malcolm Wright, director of compliance for the exchange's parent company, 100x Group, said:
"As a responsible participant in the cryptocurrency industry, it is critical for us to maintain comprehensive and flexible compliance to identify malicious and illegal transactions. Chainalysis offers an innovative solution that supports our vigilance against these threats, and we are pleased to partner with them."
In November, BitMEX announced a partnership with Eventus Systems to track suspicious transactions and AML compliance.
Recall that last October, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against the BitMEX exchange, accusing it of operating illegally in the United States, as well as violating KYC and AML rules. Because of the charges brought by the government, Chainalysis ranked the exchange as a high-risk platform.
According to court documents published in November, BitMEX executives withdrew over $440 million from the exchange after it became known about the investigation of the company by the U.S. regulator. These events had almost no effect on the exchange.
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