Bittrex Adopts Chainalysis KYT to Detect Suspicious Transactions

It should be mentioned that Bittrex is adopting Chainalysis KYT, while the control over cryptocurrency industry are intensified in many countries. 

As you remember, Financial Action Task Force (FATF)  forced the exchanges of 37 countries to start tracking customer data within 12 months in June, 2019.

Bittrex Adopts Chainalysis KYT for Transaction Tracking

Bittrex ethicist chief John Roth said that Chainalysis KYT is a completely different level of tracking. He affirms, that Bittrex will now be one step ahead of scammers, thanks to the built-in database of knowledge about suspicious addresses.

This software tracks the illegal transactions, then Bittrex analysts must determine their status. If Bittrex specialist finds out that the transaction is suspicious, one should report this to the regulatory authorities.

Earlier we wrote that the Bittrex exchange refused to conduct IEO RAID project.