XREX Introduces Blockchain Wallet Address Inquiry Tool
The XREX financial institution group has announced its official entry into the Regulatory Technology (RegTech) industry today by launching the XRAY blockchain wallet address inquiry tool. In the first phase, they have released the LINE bot in both “Free Basic Version” and “Free Advanced Version.” Prior to the public launch, several prosecutors, criminal investigators, and law enforcement professionals have already tried it out to assist in investigating various cases involving cryptocurrency such as fraud, money laundering, organized crime, sanctions, and hacking, speeding up the efficiency and precision of investigations.
As one of the first trial users of XRAY, Criminal Investigation Bureau Technology Crime Prevention Center Chief Lin Jianlong stated, “XRAY can quickly provide relevant information about wallet addresses, which is very helpful for initial assessment. If a wallet address belongs to a specific exchange, its name can also be displayed, aiding in the next steps of investigation. Currently, the batch query limit is up to 10 wallet addresses in a single batch, and we look forward to XRAY enhancing batch queries in volume.”
XRAY has released the “Free Basic Version” LINE bot, open for registration and use by anyone. By adding the bot as a friend, verifying, and sending the wallet address, one can accurately identify which domestic and international exchanges the wallet address belongs to, and immediately see the types and quantities of assets held in that wallet address.
The initial domestic exchanges that can be immediately identified include, but are not limited to, XREX, BitoPro, Maicoin, MAX, ACE, HoyaBit, Rybit, and BITGIN; international exchanges include Binance, OKX, Huobi, Bybit, Crypto.com, BingX, Bitfinex, Coinbase, and Kraken.
To apply for and activate the “Free Basic Version” service of XRAY, please fill out this form.
The “Free Advanced Version,” which involves deeper crime-related information, is currently only open for registration and use by law enforcement agencies, regulatory bodies, government officials, as well as compliance personnel from banks, electronic payments, and exchanges, who need to register with real identities. This version of XRAY will provide additional information such as the risk level and risk patterns of the queried wallet addresses, including descriptions of fraud, money laundering, organized crime, sanctions, and hacking. To apply for and activate the “Free Advanced Version” service of XRAY, please fill out this form.
XRAY will assist law enforcement in accurately retrieving data from exchanges and help regulatory units study the patterns of fraud, money laundering, and illicit use of cryptocurrencies, indicating where these activities predominantly occur. This will enable compliance personnel from banks and exchanges to assess the risk level of specific cryptocurrency deposits or withdrawals.
Let’s join forces to combat fraud! XREX Co-founder and CEO Huang Yaowen stated, “XRAY focuses on identifying criminal behaviors in Asia, especially fraud and money laundering activities, areas that are less emphasized in blockchain intelligence tools in the European and American systems, filling this gap.”
Since its establishment in 2018, XREX has sequentially launched three major businesses: XREX Exchange, XREXPay stablecoin payment platform, and white-label exchanges, with XRAY being the fourth product line. When it announced investment from Tether, the world’s largest stablecoin issuer last month, XREX had already indicated its commitment to innovative Regulatory Technology (RegTech).
The LINE bot is the first phase release of XRAY, with the second phase set to introduce the web version and open API integration.
XREX Group’s Chief Information Security Officer, Sun Huang, mentioned, “XRAY utilizes the foundation of compliance technology by leveraging the transparency and immutability of blockchain, allowing illicit activities to be reported, warned about, and supervised — a social responsibility that cannot be avoided. We also hope that more dedicated individuals both domestically and internationally can join the XRAY community, and together, using the power of technology and community, start from Taiwan and combat global fraud.”
XREX plans to collaborate with the Taiwan FinTech Association to incorporate XRAY’s anti-fraud and anti-money laundering technology into the Association’s Financial Crime Prevention Working Group, establishing a suitable real-time monitoring and collaborative defense platform for digital asset platforms, financial institutions, law enforcement agencies, and regulatory authorities in Taiwan and across Asia.
Teresa Tsai, the Honorary Chairman of the Taiwan FinTech Association and also the Chief Consultant of the Republic of China Virtual Currency Business Association, remarked, “For the cryptocurrency industry to effectively eliminate its dark side and face the bright future confidently, a united effort between public and private sectors is essential. The ‘Recognize, Block, Prevent, Punish’ initiative requires cross-ministerial and cross-sector cooperation, and the upcoming collaboration between XREX and the Taiwan FinTech Association will be an excellent demonstration of this.”
