XREX Group Expands into Regulatory Technology Introducing XRAY AntiFraud Wallet Tool Adopted by Law Enforcement Authorities in Advance

XREX Group Expands into Regulatory Technology Introducing XRAY AntiFraud Wallet Tool Adopted by Law Enforcement Authorities in Advance

XREX Group Expands into Regulatory Technology Introducing XRAY AntiFraud Wallet Tool Adopted by Law Enforcement Authorities in Advance

Taipei, June 26 – Blockchain financial institution XREX Group announced today (26th) that it is officially entering the regulatory technology (RegTech) industry, launching the XRAY blockchain wallet address lookup tool. In the first stage, it has released the LINE bot “Free Basic Version” and “Free Advanced Version.” Before its official public release, several prosecutors, criminal investigators, and law enforcement professionals have already tried it out to assist in investigating cases involving fraud, money laundering, organized crime, sanctions, and hackers related to cryptocurrencies, thereby accelerating the efficiency and accuracy of investigations.

As one of the first law enforcement personnel to try out XRAY, Lin Jianlong, Director of the Technology Crime Prevention Center of the Criminal Investigation Bureau, stated that XRAY has released the “Free Basic Version” of the LINE bot, which is open for registration and use by anyone. By adding the bot as a friend and passing the verification, users can accurately identify the domestic and foreign exchanges to which a wallet address belongs and immediately display the types and quantities of assets stored in the wallet. The first batch of domestic exchanges that can be immediately identified include but are not limited to XREX, BitoPro, Maicoin, MAX, ACE, Hoya Bit, Rybit, and BITGIN, while international exchanges include Binance, OKX, Huobi, Bybit, Crypto.com, BingX, Bitfinex, Coinbase, and Kraken. To apply for and activate the XRAY “Free Basic Version” service, please fill out this form.

The “Free Advanced Version” is currently only open for registration and use by law enforcement agencies, regulatory bodies, government personnel, as well as compliance officers from banks, electronic payment providers, and exchanges. This version of XRAY provides additional information on the risk level and risk patterns of the queried wallet addresses, such as descriptions of fraud, money laundering, organized crime, sanctions, and hackers. To apply for and activate the XRAY “Free Advanced Version” service, please fill out this form.

XRAY will help law enforcement agencies accurately retrieve data from exchanges and assist regulatory units in studying the occurrence of fraud, money laundering, and illicit use of cryptocurrencies, as well as which exchanges these activities are most prevalent on. This will enable compliance officers from banks and exchanges to assess the risk level of incoming and outgoing cryptocurrency transactions.

Huang Yaowen, Co-founder and CEO of XREX Group, stated that since its establishment in 2018, XREX has successively launched three major businesses: XREX Exchange, XREX Pay stablecoin payment platform, and white-label exchanges. XRAY is the fourth product line. When XREX announced its investment from Tether, the largest stablecoin issuer in the world, last month, it already indicated its intention to invest in regulatory technology (RegTech) innovation. The LINE bot is the first stage of the XRAY release, and the second stage will introduce a web version and open API integration.

Sun Huang, Chief Information Security Officer of XREX Group, stated that XREX plans to collaborate with the Taiwan FinTech Association to introduce XRAY’s anti-fraud and anti-money laundering technology into the association’s financial crime joint defense working group. This will help establish a suitable real-time monitoring and joint defense platform for digital asset platforms, financial institutions, law enforcement agencies, and regulatory authorities in Taiwan and Asia.

Tsai Yu-ling, Honorary Chairman of the Taiwan FinTech Association and General Advisor of the Taiwan Virtual Currency Business Association, expressed that XREX is an international financial institution with blockchain technology that closely collaborates with banks, governments, and users to redefine finance. They help businesses engaged in cross-border financial services in developing countries or with business dealings with developing countries, while also providing the most user-friendly experience for novice cryptocurrency users.

Founded in 2018, XREX Group offers a one-stop service, including digital asset custody, wallets, cross-border payments, fiat-to-crypto conversions, cryptocurrency exchanges, diversified asset investments, and fiat deposits and withdrawals. XREX Group regards inclusive finance as a social responsibility and continues to use blockchain technology to promote financial participation rights, financial usage rights, and financial education rights. XREX’s Singapore subsidiary obtained the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) in May 2024, while its Taiwanese subsidiary, ChainTech Technology Co., Ltd., completed the Anti-Money Laundering Compliance Statement with the Taiwan Financial Supervisory Commission in March 2022.

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