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.

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