Crystal First to Tag Belarus Crypto Service WHITEBIRD Over EU Sanctions
Blockchain analytics provider Crystal has labeled addresses of Belarusian crypto service WHITEBIRD as linked to sanctions evasion, citing the EU's 20th sanctions package. Other providers have not yet applied similar tags, highlighting inconsistencies in AML risk assessments.
On May 19, AML service Crystal became the first major blockchain analytics provider to tag addresses of the Belarusian crypto platform WHITEBIRD as fully associated with evading international restrictions. The move was based on the EU's 20th sanctions package. However, not all analytics vendors applied equivalent labels, creating confusion among users.
The discrepancy has raised concerns: one provider may consider a wallet 'clean,' while another flags the same address as high-risk. For example, an exchange that uses a different AML tool to verify incoming transactions might see a completely different risk profile. This can give users a false sense of security when relying solely on their own analytics provider.
In collaboration with the Bitcoin mixer Mixer.Money, the post explores why AML service ratings diverge and offers tips to reduce the risk of fund freezes. The full article is available on ForkLog.
Source: ForkLog