Wallet Checker launches mobile app to check any wallet for origin of funds

Rick Steves

Wallet Checker has launched an AI-based solution against money laundering and crypto scams to tackle the increased prevalence of such threats within the digital asset space, with $14 billion worth of crypto being stolen in 2021. 

The emerging asset class is still very nascent and criminals will take as much as they can while the ecosystem allows them to do so.

Wallet Checker has now released a new tool to fight fraudsters and scammers and counter the increased prevalence of money laundering through crypto (up by nearly 30% this year) which puts DeFi under severe regulatory scrutiny.

Wallet Checker app avoids crypto scams and money laundering

Transacting with fraudulent wallets not just exposes users to potential risks of losing their assets, but it can also lead to issues with the authorities, namely regulators.

Exchanges can potentially block users’ transactions or freeze their assets when these are linked with any malicious sources. Wallet Checker app provides a one-stop solution for avoiding crypto scams and money-laundering projects.

The Wallet Checker app uses integrated AI functions to check assets and transactions in real time and also identifies anomalies that can potentially expose funds to fraud or scams.

Available for IOS and Android, the app checks wallet address upon user’s request for risk assessment and then provides a risk score based on the assessment.

By checking any wallet for the origin of funds and providing a detailed analysis of a user’s wallet and the risk level of each fund in only 2 seconds, the wallet checker app will help users avoid the chance of getting blocked or blacklisted in case their wallet is clean. Its service also ensures users are protected most crypto criminal activities, from blacklisting to stealing assets.

Zlata Pokutnia, CMO at Wallet Checker, said: “We see how actively the cryptocurrency market is developing, so we created a simple, easy-to-use product based on the concept of crypto hygiene.”

The search algorithm tracks the sequential sources of transactions to check whether it’s arriving from a suspicious source. Users can also access the full assessment report, which will display how risks are projected based on 25 different parameters. The app will primarily support checks for the top 15 blockchain networks.

The Wallet Checker app offers five free checks for new users and, after that, users can choose one of the packages based on the number of transactions. The price of a single check starts from $ 1.

Read this next

Digital Assets

Point72 invests $77.5 million in Bitcoin, Morgan Stanley holds $269.9 million

Point72, the $34 billion hedge fund owned by billionaire and New York Mets owner Steven Cohen, held $77.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter, according to a recent filing.

Digital Assets

Binance claims Nigerian officials sought $150 million bribe

A Nigerian court has ruled that Tigran Gambaryan, a Binance executive detained on charges of tax evasion and money laundering, can stand trial on behalf of the world’s largest cryptocurrency exchange.

Digital Assets

Kraken reviews Tether listing in Europe ahead of MiCA adoption

Cryptocurrency exchange Kraken is “actively reviewing” whether to delist the stablecoin Tether (USDT) from its European platform, according to a report by Bloomberg.


Discover How MoonBag Coin Presale Stacks Up Against Dogecoin & Litecoin

Discover how the MoonBag Coin presale compares to Dogecoin and Litecoin, with unique features, a robust presale structure, and new opportunities in 2024.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, USD, May 17 ,2024

Overall, both the Federal Reserve’s policy and the US dollar’s outlook are shrouded in some degree of uncertainty.

Market News, Tech and Fundamental, Technical Analysis

Ethereum Technical Analysis Report 17 May, 2024

Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3200.00, which is the top of the previous impulse wave i.

Digital Assets

Hong Kong adopts digital yuan payments through Chinese banks

Hong Kong has launched a pilot program enabling digital yuan payments through major Chinese banks, marking the first instance of China’s digital currency project being deployed outside the mainland.

Retail FX

Saxo Bank increases client assets five-fold to $116 billion

Copenhagen-based broker Saxo Bank has achieved a major milestone, surpassing $116 billion (DKK 800 billion) in client assets.

Inside View

ISDA says US Basel III “endgame” to heighten market risk capital

ISDA further explained that, by requiring banks to hold additional capital that is misaligned with levels of risk, the proposal would significantly reduce capital market access for US end users and businesses, restrict the ability of businesses to hedge exposures to changes in commodity prices, and increase the cost of everyday consumer goods, including food and gasoline.