Investigate The Source of The Sender’s Funds and Retrieve Crypto Transfers Sent in Error The beauty of cryptography lies in endless opportunities, and that’s attractive to many. Seeing the recent shifts in capital flow, we can track the interest switching in favor of Decentralized Finance (DeFi). Although it is risky due to its high volatility, being such a young market like DeFi that’s also unregulated carries some other, more significant threats. The true danger lies in the lack of boundaries among the endless opportunities, which eventually traps DeFi in becoming a large playground for Money Laundering (ML) and Terrorist Financing (TF). The absence of KYC and AML procedures adds another log on the fire. Even the statistics demonstrate that money laundering via DeFi is increasing – about $34 million of DeFi transactions in 2020 were conducted by criminal actors. Luckily for crypto users, companies like Ciphertrace, Chanalysis, PureFi, Hacken etc. are working to decrease the gap between mass adoption and DeFi. Not a long ago, PureFi, a decentralized protocol that provides compliance tools while maintaining the anonymity of users, and Kirobo, a DeFi technology company offering users the ability to retrieve crypto transfers and the inventor of the Liquid Vault, entered into an interesting collaboration that combines the best of both companies and fights against the influx of illicit funds in the DeFi industry. How? ...
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