Key points to remember:
- Blockchain analytics firm Chainalysis has rolled out new contract-powered smart oracles designed to identify crypto addresses under sanctions
- The list of supported networks includes Ethereum and seven EVM-compatible platforms, including Avalanche and BSC
Chainalyis makes it easy to track sanctioned crypto wallets
Leading blockchain forensics firm, Chainalysis, has launched new distributed ledger tools designed to identify crypto addresses that have been placed on an economic sanctions list by the United States, European Union, or United Nations.
The new tools have been made available to the general public and do not require a prior customer relationship with the company, Chainalysis writes in the release.
New oracles powered by smart contracts allow interested parties to track addresses on Ethereum and a number of EVM-enabled networks, including Polygon, Binance Smart Chain, Avalanche, Optimism, Arbitrum, Fantom, and Celo.
Chainanalysis noted that it will do its best to keep the oracles linking blockchain data and the off-chain sanctions list curated by the US Treasury Department up-to-date, but “cannot guarantee the accuracy, timeliness, the relevance or validity of the data.”
The news of Chainalysis providing account tracking tools to the general public comes days after publicly traded cryptocurrency exchange Coinbase blocked more than 25,000 blockchain addresses linked to Russian individuals.
David is a crypto enthusiast and personal finance expert. He has created numerous publications for different platforms. He loves exploring new things, and that’s how he discovered blockchain in the first place.