Elliptic began analyzing XRP over a year ago and has identified that several hundred XRP accounts are related to illegal activity — from thefts to the sale of stolen credit cards, the release further reads. Commenting on the findings, Tom Robinson, chief scientist and co-founder of Elliptic, said:
"As criminal use of crypto-assets such as XRP evolves, we are committed to shining a light on this illicit activity, giving financial institutions the confidence they need to engage with the crypto ecosystem. XRP is gaining increasing traction in the APAC region among financial institutions and banks."
The firm revealed its findings as part of the introduction of the beta version of transaction monitoring support for XRP that enables clients to check if a transaction is linked to criminal activities or sanctioned entities. In its analysis, Elliptic conducts ongoing dark web research, identification of money laundering patterns, and collects data that links XRP accounts to known entities. Pleas Read More At The CoinTelegraph
