In 2024, BestChange exchange monitoring launched a tool for AML analysis of cryptocurrency addresses with a verification cost of $0.20.
We talk about his work and check the purity of crypto assets.
Briefly about BestChange
BestChange is an aggregator (monitoring) of services for the exchange of cryptocurrencies, electronic currencies and cash, launched in 2007.
The project team ranks trading platforms according to the most favorable rate, checks their reliability and collects feedback. The aggregator is managed by Agretis Software Design LLC with an office in Dubai (UAE).
Monitoring does not act as a guarantor of transactions. It helps the user to make a decision about conducting a trading operation by providing customer comments, information about exchange rates, reserves and the age of the exchanger.
https://forklog.com/exclusive/kak-obmenyat-kriptovalyutu-s-pomoshhyu-bestchange-gajd-dlya-novichkovHow the BestChange AML analyzer works
The AML analyzer checks cryptocurrency addresses before making transactions to minimize the risk of receiving "dirty" funds.
At the time of publication, the service supports more than 80 cryptocurrencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Toncoin (TON), as well as Tether (USDT), USD Coin (USDC) and DAI stablecoins on various networks.
Registration is not required to work with the AML analyzer. To check the address, you need to:
on the main page of BestChange, go to the "Address verification" section;enter the wallet address, select the cryptocurrency/token blockchain and specify the email address.BestChange uses information from Crystal's AML service to verify transactions. In the future, the aggregator team plans to implement databases of other analytical companies.
Testing the AML analyzer
We checked the operation of the service by specifying for verification the address associated with the recent hacking of the Turkish crypto exchange BtcTurk. To do this, we inserted it into the appropriate field, specified the email address and clicked the "Check the address for $0.20" button.
When you enter the address, the service can automatically detect the network. Data: BestChange.BestChange sent an email with a link to the payment page. After making the payment, an AML report became available for it.
At the beginning of July 2024, the AML analyzer supports Tron, Lightning Network, Volet (USD), Payeer (USD) and BestChange vouchers.
We chose the Lightning Network — scanned the QR code using the Wallet of Satoshi Lightning wallet and sent 327 Satoshi ($0.20).
The BestChange AML report payment page. Data: BestChange.The service provided the report almost instantly after the payment. The address received a Risk Score of "Risky".
The result of an AML address check. Data: BestChange.AML analysis tags like Dark market (shadow market), Illegal service (provision of illegal services) or Sanctions are available at the link "Detailed analysis". The full list is available on the BestChange website. In our case, 100% of the funds in the address are marked as Stolen coins.
"Risk Score is a dynamic indicator. It changes due to the movement of assets or the appearance of indirect links between the address and various sources. Even if the owner does not accept or send funds for a long time, the Risk Score may change due to new transactions in the wallets with which he was in contact," BestChange representatives comment.
The results of the verification will always be available via a link sent to the specified email address. Users can update them for free at any time by clicking on the corresponding button in the AML report.
Conclusions
In 2024, all major exchangers and exchanges are using AML transaction verification tools. When receiving "dirty" cryptocurrencies, they can block the client's account and transfer information to law enforcement agencies.
BestChange hosts only verified exchangers and constantly monitors their work. However, if you are not sure about the reliability of the counterparty, the service recommends that you independently conduct an AML analysis of the address before performing trading operations.