Introducing StarCheck AML: Prevent Frozen Funds

External - Press Release

By: Chainwire Loading...

Introducing StarCheck AML: Prevent Frozen Funds

Harju maakond, Tallinn, Kesklinna linnaosa, Harju tn 3 // Vana-Posti tn 2, 10146, Estonia, May 2nd, 2024, Chainwire

StarCheck, a leading company in cryptocurrency security, is set to launch its revolutionary solution addressing security concerns in the digital asset landscape. With the evolving nature of cryptocurrencies, the need for robust Anti-Money Laundering (AML) measures has become increasingly evident. StarCheck's innovative tool is poised to address these pressing security challenges head-on.

Unlocking AML Compliance: Embracing Identity Verification

In today's global business landscape, adherence to anti-money laundering (AML) regulations is crucial. Businesses spanning finance to asset management must ensure AML compliance, vital for operational integrity. These checks prevent illicit financial activities, involving thorough identity verification, especially in cryptocurrency. Such verification is essential, analyzing on-chain addresses for client legitimacy. Non-compliance leads to fines and prosecution, requiring robust AML procedures. Individuals can conduct due diligence in cryptocurrency transactions, enhancing transparency with tools like StarCheck.

Introducing StarCheck: The user Shield Against Financial Risks

StarCheck, a cutting-edge solution, streamlines AML verification for crypto wallets. Users swiftly scrutinize addresses, preempting blocks or suspicious activities. With StarCheck, protect assets from freezing by exchanges or custody services. Imagine unknowingly accepting stolen crypto; without verification, it could lead to issues when transferring to an exchange. Navigate the crypto landscape confidently with StarCheck, ensuring compliance and safeguarding against financial risks.


Optimizing Security: Leveraging StarCheck at Crucial Moments

For seamless integration of StarCheck into your cryptocurrency transactions, timing is key. Whether engaging in peer-to-peer trades or accepting cryptocurrency payments, employing StarCheck offers a pivotal advantage. This tool facilitates swift verification of transaction counterparts, essential for platforms or exchanges seeking to onboard new users securely.

By leveraging StarCheck, you mitigate the risk of fraud and financial crimes by swiftly identifying suspicious or blacklisted addresses linked to illegal or fraudulent activities. This proactive approach adds an extra layer of protection, fortifying the user operations and averting potential pitfalls in the future.

Achieving Success: Enhancing Security Through Preventative Measures

The impact of preventative tools such as StarCheck on bolstering security within the cryptocurrency realm is undeniable, yet the journey toward comprehensive protection continues. Recent findings from the Chainalysis 2024 Crypto Crime report highlight a notable decline in illicit transactions across the crypto ecosystem, from 0.42% to 0.34%. This encouraging trend is attributed to the concerted efforts of exchanges and platforms in implementing stringent security protocols, coupled with traders adopting proactive measures and leveraging preventative solutions.

While these advancements signify progress, it's essential to maintain vigilance and exercise caution in every transaction. Despite the strides made, no crypto entity is immune to potential risks. Therefore, prudent and careful transactional practices remain paramount for all stakeholders involved.



In a 2023 Pew Research Center survey, the results claimed that 75% of American respondents weren’t confident in cryptocurrency’s safety and reliability. The key to the mass adoption of decentralized financial (DeFI) technologies could therefore lie in security improvements. Until exchanges, wallets, and DeFi services can prove that they can protect their current customers, they may struggle to grow their user numbers.


Promoting Accountability: Exchange Initiatives in Combatting Bad Wallets

In response to the growing concern surrounding malicious wallet activity, several exchanges have initiated proactive measures to address this issue. One notable example is OKX, which has implemented stringent policies aimed at mitigating dishonest or abusive conduct within its platform. By reserving the right to revoke eligibility for users or wallet addresses suspected of engaging in illicit activities, such as money laundering or fraudulent behavior, OKX underscores its commitment to maintaining integrity and security.

Blockchain's transparency aids in detecting dubious activities. Blocking bad wallets protects exchanges, but does it safeguard users adequately? Implementing comprehensive measures is crucial to fortify exchanges and prioritize user safety and security.


Bithumb and Coinone, two highly popular crypto exchanges from South Korea, both took a different approach. They implemented a policy whereby customers could not withdraw funds to unverified wallets. This meant that users needed to do KYC and AML checks for their external personal wallets. Withdrawals to MetaMask would no longer be allowed, as these are not KYC-verifiable. Whilst it seems controlling, it’s both a preventative and protective move from the exchanges.

StarCheck: Real-Time Support in Action

In cryptocurrency transactions, risk assessment is critical. StarCheck, a powerful tool, swiftly evaluates counterparties' wallet addresses, providing exceptional protection. It conducts rapid audits, detecting involvement in theft, laundering, scams, terrorism, or abuse. Unlike others, StarCheck simplifies the process in four steps: paste the address, select the asset, press "check," and await the risk score, taking mere seconds. With real-time support, users can make informed decisions, ensuring transactional security effortlessly. Whether in peer-to-peer trades or new engagements, StarCheck empowers confident transactions, upholding cryptocurrency integrity and security. Our five-star scale indicates risk level; more stars imply lower risk, while 1 or 2 stars suggest significant risk. This system aids in decision-making, ensuring safer transactions in the digital realm.

Empowering Users: The StarCheck Case Study of a Frozen User

A recent incident involving a StarCheck customer sheds light on the pivotal role of AML checks in safeguarding against illicit activities within the cryptocurrency space. The user, operating a small Web3 service and accepting crypto payments, encountered an unexpected hurdle when a block was placed on their USDT holdings. Unaware of any wrongdoing, the user was taken aback to discover that the crypto in question was stolen. In a proactive effort to address the issue, the user conducted a thorough review of their transaction history, leveraging StarCheck to scrutinize each wallet interaction. Through this diligent process, the user identified and reported the wallet associated with the illicit activity.

AML Checks: The Next Step

Users can test the service on some of their wallets. New members receive 10 free StarChecks when they register and open a free account.

To follow StarCheck or join one of StarCheck growing communities, users cancheck out StarChecksocials:

X (Twitter) | Telegram | Facebook | YouTube | LinkedIn

If there’s one thing to take away from this release, it’s that AML checks are designed to protect users and their funds from the bad actors of crypto


Marketing Manager
Archy Park