Huobi Deploys Proprietary Transaction Monitoring Tool
- The tool will flag suspicious transactions in real-time.
Huobi Group, the parent company of the Huobi crypto exchange, announced on Monday the launch its proprietary on-chain transaction monitoring Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term tool.
Dubbed Star Atlas, the monitoring tool will enhance the crypto exchange’s KYC and AML compliance with various regulators.
Mentioning the development, Ciara Sun, VP of the global business of Huobi Group, said: “It’s estimated that only a small percentage of cryptocurrency transactions are illicit, but any incident—regardless of size—is a stain on the entire industry. As one of the most active crypto exchanges on the market, we see it as our responsibility to take a leading role in preventing the minority of bad actors from ruining it for the vast majority that follows the rules.”
The press release shared with Finance Magnates also detailed that the monitoring tool will flag high-risk transactions, thus proactively detecting fraud, money laundering, and other illicit activities.
Notably, Star Atlas will flag transactions in real-time using several techniques like monitoring the on-chain flow of assets, event correlation analysis, identity authentication, and malicious address labeling, to single out and track illicit activities.
Taking business in-house
The demand for Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term analytics tools was always in high demand in the crypto arena. Though companies like Chainalysis and Chainlink raised in reputation, exchanges are now moving towards the development of their proprietary solutions.
Just last month, Bitfinex launched a similar market surveillance tool even though it was benefiting from Chainalysis’ services.
“Star Atlas is a tool we are very proud of as it encapsulates and maintains the most important core values at Huobi. We have robust security on our platforms, we put safety first for our users, and our platform always makes our best efforts to provide a safe, secure trading experience for our users,” Sun added.
Huobi Group, the parent company of the Huobi crypto exchange, announced on Monday the launch its proprietary on-chain transaction monitoring Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term tool.
Dubbed Star Atlas, the monitoring tool will enhance the crypto exchange’s KYC and AML compliance with various regulators.
Mentioning the development, Ciara Sun, VP of the global business of Huobi Group, said: “It’s estimated that only a small percentage of cryptocurrency transactions are illicit, but any incident—regardless of size—is a stain on the entire industry. As one of the most active crypto exchanges on the market, we see it as our responsibility to take a leading role in preventing the minority of bad actors from ruining it for the vast majority that follows the rules.”
The press release shared with Finance Magnates also detailed that the monitoring tool will flag high-risk transactions, thus proactively detecting fraud, money laundering, and other illicit activities.
Notably, Star Atlas will flag transactions in real-time using several techniques like monitoring the on-chain flow of assets, event correlation analysis, identity authentication, and malicious address labeling, to single out and track illicit activities.
Taking business in-house
The demand for Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term analytics tools was always in high demand in the crypto arena. Though companies like Chainalysis and Chainlink raised in reputation, exchanges are now moving towards the development of their proprietary solutions.
Just last month, Bitfinex launched a similar market surveillance tool even though it was benefiting from Chainalysis’ services.
“Star Atlas is a tool we are very proud of as it encapsulates and maintains the most important core values at Huobi. We have robust security on our platforms, we put safety first for our users, and our platform always makes our best efforts to provide a safe, secure trading experience for our users,” Sun added.