Hoptrail Intelligence: Real-Time Risk Alerts on Wallets & VASPs

We are pleased to announce the release of Alerts, our real-time risk monitoring tool for cryptocurrency wallets and Virtual Asset Service Providers (VASPs).

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What is Alerts?

Alerts enables users to get instant risk intelligence on issues critical to their business.  This could be ongoing monitoring of customer wallets for red flags, responding to AML score changes for an exchange, or knowing when stolen funds are on the move.

The tool is designed with compliance in mind, focused on providing support at and beyond the client onboarding stage. By providing the ability to monitor customer activities in real time - both on and off-chain - we are ensuring compliance teams are making better, more accurate risk decisions whilst enhancing their ability to scrutinise and respond to risk events in a timely manner.

How does it work?  

The tool allows users to set risk alerts on over 1,000 VASPs - including everything from exchanges and custody providers, to market makers, gambling services and NFT marketplaces - as well as on any address on the Bitcoin and Ethereum networks.  These are broken down into three options for users to set:  

1. When a VASP AML score changes
2. When a cryptocurrency address has received or sent funds
3. When a cryptocurrency address has interacted with a high-risk wallet

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Users can add an alert to any entity or address on the platform by clicking on the alert bell at the top of the report page (see below).

Our entity risk scores draw on 23 AML variables, including but not limited to licensing, KYC procedures, trading and monitoring, security, litigation, and regulatory penalties.  Any time an entity you are monitoring is impacted by one of these issues, you will be notified immediately.

This is the same for addresses, which provides two options for the user.  You may want to know if your customer address directly transacts with a sanctioned address or a darknet marketplace.  Equally, you may be monitoring a theft and want to know when stolen funds are on the move so you can act swiftly on seizure and recovery.

When an alert is triggered, users will receive an email and the alerts tab on the platform will be highlighted. The email will tell you which address or entity has been triggered and why, so you can log in and deal with it.

Alerts Dashboard

The Alerts dashboard - accessible on the top right of the platform - will show all active alerts, highlighting those that have been triggered.  Alerts can be removed at any time.  The below image shows an alert for an Ethereum address that has been triggered.

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Clicking the 'Show History' button will bring up all alerts for that category, including all data relevant to that alert: when it happened, which token, how much, which direction (sent or received) and with which address the transaction occurred.

We realise the importance of staying up-to-date and informed in the crypto world.  That's why we are so excited about Alerts.  It is designed to ensure our users don't just stay on top of issues, but are equipped to analyse and respond to them quickly and appropriately.

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Want to find out more?

If you’d like to find out more about our platform, or how we collect and curate our data, get in touch with the team at info@hoptrail.io or reach out to us here.

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