HONG KONG, Jan. 30, 2024 /PRNewswire/ — Reap, a leading payment technology company specialising in bridging Web2 & Web3 finances, is proud to announce its collaboration with the blockchain data platform, Chainalysis. Reap is utilising Chainalysis risk solutions that provide advanced transaction monitoring and robust illicit activity detection capabilities for the blockchain, ensuring the utmost protection for Reap’s user funds in the ever-changing digital landscape.
Chainalysis’ Crypto Crime Report 2024 estimates that while all crypto transaction volume associated with illicit activity amounts to just 0.34% in 2023, the value received by illicit cryptocurrency addresses totals at least $24.2 billion – a significant amount that needs to be addressed. Reap’s adoption of Chainalysis risk solutions helps tackle this issue, leveraging their advanced blockchain data platform to detect and trace on-chain illicit fund flows. By enabling Reap to trace the sender’s journey, Chainalysis enhances visibility and enables the detection of abnormal flows at any stage of the transaction process, emphasising the exceptional transparency offered by blockchain technologies.
Reap observed a notable trend in…
