How to protect yourself from dirty cryptocurrency

Dirty cryptocurrencies are digital assets that have been involved in illegal transactions or have been stolen from exchanges.

Unfortunately, criminals often use cryptocurrency in their activities due to its anonymity. To hide the traces of “dirty” cryptocurrency, attackers use various methods: they use mixers (programs and services for anonymizing transactions), decentralized platforms, sites with weak AML / CFT policies, etc. A compromised cryptocurrency can get into almost any wallet, which at the exact moment will automatically also become compromised with all the funds on balance.

If the “dirty” cryptocurrency gets to the Bitzlato wallet, the account will be blocked, and the funds will be frozen until the circumstances are clarified.

If the service has blocked your account for a suspicious transaction, the best solution would be to cooperate with the service’s security, performing all the necessary actions. First of all, you need to go through verification and provide information confirming the source of the funds or the recipient and the purpose of the funds sent.

Arguing with the security service is ineffective – specialists act exclusively by internal regulations, which comply with the user agreement and international AML / CFT rules. All such cases are personally handled by the Compliance Officer (Service Compliance Officer). If the user’s innocence is proven, the account will be unblocked simultaneously, and the funds will be unfrozen.

Tips from Bitzlato:

  • Check the origin of coins through special services and applications — for example, Chainalysis, Chainalysis KYT, Crystal, IdentityMind, Longhash, Traceer.
  • By accepting cryptocurrency from unverified sources, you can allow attackers to drag you into illegal activities, including sending funds.
  • Do not conduct financial transactions in secret chats. Try to conduct business correspondence only by e-mail so that you will be sure of the safety of transaction details.

Prohibited resources:

  • Hydramarket;
  • Darknet market;
  • Transaction mixing resources;
  • Other resources related to illegal activities.

If funds come from these resources or try to withdraw to a wallet associated with these resources, then your account will be blocked until the circumstances are clarified.

On Bitzlato, you can safely buy or sell cryptocurrency. We carefully monitor all incoming and outgoing transactions for criminal activity. We also cooperate with a blockchain analytical AML service (you can read more in the article), automatically checking all transactions for connections with illegal activities. This ensures transparency and security of assets on our platform.

 

Always be vigilant and careful with all operations!

Bitzlato support team will always provide you with the assistance you need in any matter.