By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Stock market news today: live updates
    Stock market news today: live updates
    May 20, 2025
    Canada, U.K., France warn Israel of ‘concrete action’ over military expansion – National
    Canada, U.K., France warn Israel of ‘concrete action’ over military expansion – National
    May 20, 2025
    My first thought when I heard Joe Biden’s news
    My first thought when I heard Joe Biden’s news
    May 19, 2025
    NH mom, two daughters share rare medical condition
    NH mom, two daughters share rare medical condition
    May 19, 2025
    Measles vaccines save millions of lives each year
    Measles vaccines save millions of lives each year
    May 19, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Circle reportedly weighing sale to Coinbase or Ripple despite IPO plans
    Circle reportedly weighing sale to Coinbase or Ripple despite IPO plans
    May 20, 2025
    Lido DAO price revisits key support level: what next for LDO?
    Lido DAO price revisits key support level: what next for LDO?
    May 20, 2025
    Ripple Labs Deploys XRP Ledger to Boost Financial Inclusion and Income for Smallholder Agriculture in Colombia
    Ripple Labs Deploys XRP Ledger to Boost Financial Inclusion and Income for Smallholder Agriculture in Colombia
    May 20, 2025
    On-Chain Oscillator Shows Bitcoin Far From Cycle Peak – Can BTC Push Above ATH?
    On-Chain Oscillator Shows Bitcoin Far From Cycle Peak – Can BTC Push Above ATH?
    May 19, 2025
    Tornado Cash Dev Roman Storm’s Defense Team Wants to Know if DOJ Withheld Evidence
    Tornado Cash Dev Roman Storm’s Defense Team Wants to Know if DOJ Withheld Evidence
    May 19, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: 1inch Network Screens Millions Of Wallets To Strengthen Security
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Cryptocurrency > 1inch Network Screens Millions Of Wallets To Strengthen Security
1inch Network Screens Millions Of Wallets To Strengthen Security
Cryptocurrency

1inch Network Screens Millions Of Wallets To Strengthen Security

Published January 27, 2024
Share
4 Min Read
SHARE

Contents
1inch Screens Millions Of WalletsProactive Compliance How TRM Works

Decentralized finance (DeFi) platform 1inch has screened millions of wallets for Anti-Money Laundering (AML) risks since 2022.

The proactive security efforts by 1 inch have led to the discovery of hundreds of high-risk addresses.

1inch Screens Millions Of Wallets

The effort by the DeFi platform has significantly boosted security and reliability, with the TRM Wallet Screening helping 1inch find hundreds of high-risk addresses and helping 1inch identify typical risks such as child abuse material, fraud, and compromised or pilfered monies. The screening process also proactively blocks high-risk addresses from accessing the platform or products, ensuring enhanced security. 1inch is one of the most prominent entities in the DeFi space, with over 11 million customers, and $400 billion worth of trading activity. 

- Advertisement -

Blockchain and cryptocurrency journalist Wu Blockchain took to X, posting about 1inch’s wallet screening activity. 

“DeFi protocol 1inch has screened millions of wallets for AML risks since 2022, identifying hundreds of high-risk addresses. TRM Wallet Screening has sharpened 1inch’s understanding of the types of risks. Those linked to child sex abuse material vendors, scams, and hacked and stolen funds were the most prevalent among the addresses that 1inch ultimately decided to be barred from accessing its products.”

Proactive Compliance 

Legislation has seen a considerable shift, with authorities targeting exchanges, custodians, brokers, and centralized crypto ecosystems. There are other challenges as well, such as direct blockchain transactions between users in a decentralized setting. Regulators, legislators, and business partners must find a way to facilitate lawful users to conduct transactions securely and anonymously while simultaneously reducing risks from threat actors and illicit users who could exploit disintermediated software.

- Advertisement -

1inch is among a growing list of DeFi protocols that are adopting compliance measures and partnering with blockchain intelligence providers such as TRM to ensure compliance with sanctions and limit the ability of threat actors who use DeFi and DeFi protocols for illicit activities. Most users interact with DeFi protocols anonymously. This is why 1inch has prioritized identifying AML and sanctions risks, limiting its exposure to threat actors and illicit funds.

This is why 1inch integrated TRM Wallet Screening, TRM Labs’ on-chain AML, and sanctions risk-detecting tool into the 1inch dApp and 1inch Wallet to screen user wallets at regular intervals. The list created by the integration is used to cross-check end users who interact with the 1inch API to the list of high-risk actors previously documented by the 1inch app and wallet.

How TRM Works

TRM is designed to detect and restrict high-risk crypto addresses. Since 1inch began using TRM’s API to check product wallets, it has detected and limited hundreds of high-risk addresses. The increase in monthly wallet API inspections shows TRM’s commitment to risk management improvement.

Thanks to TRM Wallet Screening, 1inch can better understand its products’ financial and user risks. 1inch’s integration with TRM allows the DeFi platform to protect the DeFi ecosystem from illicit currency and prohibit its business from processing it.

Based on the risk factors detected by TRM’s API, 1inch can restrict users from connecting to the 1inch dApp, 1inch Wallet, or the 1inch API, or conduct transactions using these services.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

- Advertisement -

#1inch #Network #Screens #Millions #Wallets #Strengthen #Security

TAGGED:1inchmillionsNetworkscreenssecurityStrengthenwallets
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Flipkart co-founder Binny Bansal leaves board Flipkart co-founder Binny Bansal leaves board
Next Article Fuel tanker on fire after Houthi missile attack in Gulf of Aden Fuel tanker on fire after Houthi missile attack in Gulf of Aden
- Advertisement -

Latest Post

Circle reportedly weighing sale to Coinbase or Ripple despite IPO plans
Circle reportedly weighing sale to Coinbase or Ripple despite IPO plans
Cryptocurrency
Stock market news today: live updates
Stock market news today: live updates
World News
Lido DAO price revisits key support level: what next for LDO?
Lido DAO price revisits key support level: what next for LDO?
Cryptocurrency
Ripple Labs Deploys XRP Ledger to Boost Financial Inclusion and Income for Smallholder Agriculture in Colombia
Ripple Labs Deploys XRP Ledger to Boost Financial Inclusion and Income for Smallholder Agriculture in Colombia
Cryptocurrency
Canada, U.K., France warn Israel of ‘concrete action’ over military expansion – National
Canada, U.K., France warn Israel of ‘concrete action’ over military expansion – National
World News
On-Chain Oscillator Shows Bitcoin Far From Cycle Peak – Can BTC Push Above ATH?
On-Chain Oscillator Shows Bitcoin Far From Cycle Peak – Can BTC Push Above ATH?
Cryptocurrency
- Advertisement -

You Might Also Like

CFTC Files Fraud Charge Against ‘Blockchain’ Entity That Claims To Grow Customer Funds
Cryptocurrency

CFTC Files Fraud Charge Against ‘Blockchain’ Entity That Claims To Grow Customer Funds

August 12, 2023
Bitcoin Drops, Is It A Pullback For A Sling To ,000?
Cryptocurrency

Bitcoin Drops, Is It A Pullback For A Sling To $45,000?

August 18, 2023
Chris Young is CLEARED of all charges following his arrest at a Nashville bar… after security footage showed singer being shoved by an officer
Entertainment

Chris Young is CLEARED of all charges following his arrest at a Nashville bar… after security footage showed singer being shoved by an officer

January 27, 2024
TON On Uptrend But Raboo's Remarkable Run Captures Crypto Spotlight, While Polkadot Sinks
Cryptocurrency

TON On Uptrend But Raboo's Remarkable Run Captures Crypto Spotlight, While Polkadot Sinks

June 30, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?