If you can’t beat ’em, join ’em? BitMex onboards more aggressive Chainalysis measures in advance of a response to the CFTC.
Still facing a courtroom assault in the U.S. for allegedly facilitating money laundering, BitMex is trying to show regulators that it’s trying.
On Jan. 12, the legally besieged crypto exchange released a blog post advertising further work with blockchain analytics firm Chainalysis. BitMex said its aim was “to identify, investigate, and stop illicit transactions.”
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Chainalysis is known as a go-to solution for government entities looking to track crypto transactions. The firm has been instrumental to the Department of Justice’s seizures of cryptocurrency, including over $1 billion in Bitcoin and its offshoots from an unnamed Silk Road hacker, as well as from a network of terrorist funding surrounding a crypto exchange in Idlib, Syria. It is this reputation for work with governments that BitMex is likely trying to exploit.
The move may be too little, too late. BitMex was theoretically