Chainalysis launched tools to detect sanctioned wallets

The company’s free software analyzes EVM-compatible networks

11.03.2022 - 07:35

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What’s new? The analytical company Chainalysis has unveiled new free software to track sanctioned crypto wallets. The smart contract checks address from EVM-compatible networks with a blacklist of users. The company will also release an API for its software in April, making it easier to use and implement in other networks.

Announcement from Chainalysis

What do the Chainalysis representatives say about the software? The company claims that the new tools are completely free and compatible with many programming languages. The company’s announcement says:

“The smart contract is maintained by Chainalysis on a variety of popular blockchains and will be regularly updated to reflect the latest sanctions designations listed on economic/trade embargo lists from organizations including the US, EU, or UN.”

The decision to release such a utility was made because of the Western concerns that Russia and other countries will be able to use cryptocurrency to evade sanctions. Chainalysis has been cooperating with governments of different states before this case. Earlier, Coinbase blocked 25 000 Russian users who, according to the exchange, were engaged in illegal activities.

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