To help fight crypto scams, blockchain asset recovery firm PrudenSolve announced it has joined Coinfirm’s AMLT Token Network, a solution allowing the global economy to provide data to fight ransomware, hacking, malware and other online fraud and scams touching the cryptocurrency economy.
AMLT is the token for the AMLT Network and Coinfirm AML/KYC Platform, in return for valid data provided, AMLT Network Members are rewarded in AMLT.
One of the first companies focused on the recovery of blockchain assets, Prudensolve will start off their collaboration with the AMLT Network by submitting data it has collected on nefarious action related addresses in the past.
After initial data submission of past cases, PrudenSolve will have an ongoing program that submits relevant data into the Network via API. For each submission deemed valid by the AMLT and Coinfirm data science team, PrudenSolve will receive AMLT tokens as a reward in return that they will then use for payment for Coinfirm’s tools that PrudenSolve will use to better investigate lost blockchain assets.
“The partnership with Coinfirm’s AMLT Network allows us to effectively share information about fraud and related activities in a way that protects users and the integrity of the crypto economy as a whole. Until now the market didn’t have much of an option or that sort of ability to not only have an effective voice but have benefits from it. Building a network of like-minded individuals and companies attached to AMLT and the Coinfirm AML Platform gives the market that solution and will help limit the potential risk of fraud.”
For Coinfirm, a RegTech company focused on blockchain and cryptocurrencies, Prudensolve marks another synergistic Member added to Coinfirm’s AMLT Network
“Prudensolve is exclusively focusing on solving a major need in the crypto space and one that obviously ties into some of what Coinfirm and AMLT are pushing towards. Better security, safety, and transparency of the blockchain market that leads to faster and better mass adoption. As the AMLT Network grows so will the effectiveness of it and as of now we have an array of entities participating ranging from exchanges to now blockchain asset recovery companies, I’m glad Prudensolve has added another class of Network Members that will benefit from participating.