XREX Group enters regulatory technology! Launched the XRAY anti-fraud wallet query tool, and the police and prosecutors took the lead in trying it out

June 26, Taipei – Blockchain financial institution XREX Group announced today (26th) that it has officially entered the regulatory technology (RegTech) industry, launched the XRAY blockchain wallet address query tool, and released the LINE robot "free basic version" in the first phase ” and the “free advanced version”, before being officially released to the public, many prosecutors, criminal police and law enforcement professionals have tried it in advance to assist in the investigation of different cases involving cryptocurrency, such as fraud, money laundering, organized crime, sanctions, and hackers. , speeding up the efficiency and accuracy of investigations.​

As one of the first batch of prosecutors and police officers to trial XRAY, Lin Jianlong, director of the Criminal Police Technology Crime Prevention Center, said:

XRAY can quickly provide relevant information about the wallet address, which is very helpful for preliminary judgment. If the wallet address belongs to a specific exchange, its name can also be displayed, which is helpful for further investigation. Currently, the maximum number of batch queries in a single batch is 10 wallet addresses. We look forward to XRAY's enhanced batch query for a large number of queries.​

XRAY has released the "free basic version" LINE robot that everyone can register for use. As long as you add friends and pass verification, paste the input wallet address and send a message, you can accurately identify the domestic and foreign exchanges to which the wallet address belongs. And immediately display the type and amount of assets stored in the wallet address. The first wave of immediately identifiable domestic transactions include but are not limited to: XREX, BitoPro, Maicoin, MAX, ACE, Hoya Bit, Rybit, and BITGIN; international exchanges include: Binance ), OKX, Huobi, Bybit, Crypto.com, BingX, Bitfinex, Coinbase, Kraken, etc. To apply for and activate XRAY "Free Basic Edition" service, please fill out this form.​

Because the "Free Advanced Edition" involves deeper criminal intelligence, it is currently only open to law enforcement agencies, regulatory agencies, government personnel, and bank, electronic payment and exchange compliance personnel for real-name registration. This version of XRAY will additionally provide all Query the risk level and risk profile of the wallet address, such as: descriptions of fraud, money laundering, organized crime, sanctions, hackers, etc. To apply for and activate the XRAY "Free Advanced Edition" service, please fill out this form.

XRAY will help prosecutors and police accurately access information from exchanges. It can also assist supervisory authorities in studying fraud, money laundering and the use of illegal cryptocurrencies, and which exchanges they most occur in. This will also help banks and exchanges to comply with laws. personnel to determine the risk level of a certain cryptocurrency deposit or withdrawal.​

Huang Yaowen, co-founder and group CEO of XREX, said:

XRAY focuses on identifying criminal patterns in Asia, especially fraud and money laundering, which are less covered in blockchain intelligence tools in the European and American systems. XRAY will fill this gap.

Since its establishment in 2018, XREX has successively launched three major businesses: XREX exchange, XREX Pay stablecoin payment platform and white-label exchange. XRAY is the fourth product line. When it announced last month that it had received investment from Tether, the world's largest stablecoin issuer, XREX had already announced its investment in regulatory technology (RegTech) innovation. The LINE robot is the first phase of XRAY’s release, and the second phase will launch a web version and open API connections.​

Sun Huang, Chief Information Security Officer of XREX Group, said:

XRAY uses the open, transparent and non-tamperable characteristics of blockchain to complete the infrastructure of compliance technology, so that illegal behaviors can be reported, reminded and supervised. This is our unavoidable social responsibility. We also hope that more people with lofty ideals at home and abroad can become a member of the XRAY community and join us in using the power of technology and community to fight fraud around the world starting from Taiwan. "

XREX plans to cooperate with the Taiwan Fintech Association to introduce XRAY's anti-fraud and anti-money laundering technology into the association's joint financial crime prevention working group to build a system for digital asset platforms, financial institutions, law enforcement agencies and regulatory agencies in Taiwan and even Asia. Set up a suitable real-time monitoring and joint prevention platform.​

Cai Yuling, honorary chairman of the Taiwan Fintech Association, who also serves as the general counsel of the Virtual Currency Business Association of the Republic of China, said:

The cryptocurrency industry must be able to effectively eliminate its dark side before it can face the bright side with its head held high. "Recognizing fraud, blocking fraud, blocking fraud, and punishing fraud" requires cross-departmental and cross-private public-private collaboration. The upcoming cooperation between XREX and the Taiwan Fintech Association will be an excellent example.

About XREX

XREX Group is an international financial institution with blockchain technology that works closely with banks, governments and users to rewrite the definition of finance. We help companies located in or doing business with developing countries handle cross-border financial services, while also providing the most user-friendly experience for global cryptocurrency novices.​

Founded in 2018, XREX Group provides one-stop services, including: digital asset custody, wallets, cross-border payments, legal currency and cryptocurrency conversion, cryptocurrency exchanges, diversified asset investments, legal currency deposit and withdrawal services, etc. XREX Group regards inclusive finance as a social responsibility and hopes to contribute to this end, and continues to use blockchain technology to promote the right to financial participation, financial usage and financial education. The Singapore subsidiary of the XREX Group obtained the Large Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) in May 2024, and the Taiwan subsidiary Lianke Co., Ltd. completed the money laundering prevention with the Taiwan Financial Supervisory Commission in March 2022. Regulatory Compliance Statement.

The content of this article is officially provided and does not represent the position or investment advice of this site. Readers must make their own prudent assessments.

This article XREX Group moves into RegTech! The XRAY anti-fraud wallet query tool is launched, and the police and prosecutors are the first to try it. First appeared in Zombit.