Steps towards enhanced user protection
The xrplorer.com forensics advisory list is the result of both smart design and data processing, but also manual processing and vetting of gathered intelligence.
For the advisory list to have any effect, it needs implementation in exchanges. We believe that XRP service providers (exchanges, swap services, payment providers …) can do a better job of protecting their users and play a part in combating money laundering on the XRPL.
That can be done reactively: reacting to incoming payments, checking if they are potentially illicit, and seize or report the transaction.
But there is also a proactive measure: protecting users from themselves, by implementing a check and warning when users withdraw funds to a potentially dangerous account.
In 2019-2020 close to 9,000,000 XRP was withdrawn directly from exchanges to scams. The proactive measurement of warning users can prevent a large part of these and is already implemented in several services, including Gatehub, Xumm, and xrpl.ws.
Do you want to protect your users against scams? You can! In 2019 more than 6M XRP was withdrawn directly from exchanges to giveaway scams. This year, already close to 3M. You can warn your users, when they withdraw, by using our advisory list. pic.twitter.com/M1TT2cu9c0— xrplorer.com (@xrplorer) April 23, 2020
Professionalization and monetization
While we wish to continue to serve the community with personal advice in cases of thefts and scams and forensics assistance, we need to think of monetization. We need to cover the costs of our computing- and human resources and continued professionalization to offer better and better protection.
We honor our promise to the XRP community and maintain community access for non-commercial use and community protection to the advisory list free of charge.
For commercial use, we now introduce a public pricing model for XRP service providers: https://xrplorer.com/forensics/advisorylist.
While the advisory list is our most visible product, we also offer access to data intelligence and analytics through customized APIs. Contact us with your needs, and we will help find a solution.