Uniswap has begun to identify and block criminal crypto wallets

The crypto exchange is collaborating with blockchain analytics company TRM Labs

23.04.2022 - 10:50

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1 min

What's new? Uniswap Labs, the company that developed the decentralized exchange Uniswap, has begun working with blockchain analytics company TRM Labs to identify and block cryptocurrency wallets linked to criminal activity. The company's blog states that the exchange is already blocking all addresses from the Office of Foreign Assets Control (OFAC) sanctions list. The exchange officials noted that the blocking only takes place on the user interface side of the app and does not affect smart contracts.

The Uniswap Labs blog

What had happened before? The transaction mixer Tornado Cash announced the blocking of wallets hit by OFAC sanctions. The service uses tools from analytical company Chainalysis to track the addresses of violators. The mixer already blocked the addresses of Ronin sidechain hackers.

On April 5, OFAC imposed sanctions on the Garantex crypto exchange and Russian darknet marketplace Hydra.The analysis revealed that more than $100 million in cryptocurrency related to illegal activities passed through Garantex. Almost $6 million of these came from the Russian hacker group Conti, and about $2 6 million came from Hydra. OFAC blocked all property of Hydra and Garantex that are located in the United States.

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