On June 26th, Taipei – XREX Group, a blockchain financial institution, announced its official entry into the regulatory technology (RegTech) industry by launching XRAY, a blockchain wallet address lookup tool. In the first phase, XRAY released LINE bots “Free Basic Version” and “Free Advanced Version”. Before its official public release, many prosecutors, criminal investigators, and law enforcement professionals had already tried it out, assisting in the investigation of various cases involving cryptocurrency-related fraud, money laundering, organized crime, sanctions, and hackers, thereby accelerating the efficiency and accuracy of investigations.
As one of the first law enforcement personnel to try XRAY, Lin Jianlong, the director of the Technology Crime Prevention Center of the Criminal Investigation Bureau, stated that XRAY has released the “Free Basic Version” LINE bot, which is open to everyone for registration and use. By simply adding it as a friend and passing the verification, users can accurately identify the domestic and foreign exchanges to which the wallet address belongs and immediately display the types and quantities of assets stored in the wallet address. The first wave of domestic exchanges that can be immediately identified includes but is not limited to: XREX, BitoPro, Maicoin, MAX, ACE, Hoya Bit, Rybit, and BITGIN; international exchanges include: Binance, OKX, Huobi, Bybit, Crypto.com, BingX, Bitfinex, Coinbase, Kraken, and more. To apply for and activate the XRAY “Free Basic Version” service, please fill out this form.
The “Free Advanced Version” is currently only open to law enforcement agencies, regulatory agencies, government personnel, and compliance personnel from banks, electronic payment, and exchange institutions who have registered with their real names, as it involves deeper criminal intelligence. This version of XRAY will provide additional risk levels and risk patterns for the queried wallet address, such as fraud, money laundering, organized crime, sanctions, hackers, and other descriptions. To apply for and activate the XRAY “Free Advanced Version” service, please fill out this form.
XRAY will help law enforcement agencies to accurately request data from exchanges and assist regulatory agencies in researching the use of fraudulent, money laundering, and illegal cryptocurrencies, which often occur in which exchanges. It will also enable compliance personnel from banks and exchanges to determine the risk level of a particular cryptocurrency deposit or withdrawal.
Huang Yaowen, co-founder and CEO of XREX Group, stated that since its establishment in 2018, XREX has successively launched three major businesses: XREX Exchange, XREX Pay Stablecoin Payment Platform, and White Label Exchange. XRAY is the fourth product line. Last month, XREX announced that it had received investment from Tether, the world’s largest stablecoin issuer, and had already announced its intention to invest in RegTech innovation. The LINE bot is the first phase of XRAY’s release, and the second phase will launch a web version and open API integration.
Sun Huang, XREX Group’s Chief Information Security Officer, stated that XREX plans to cooperate with the Taiwan FinTech Association to introduce XRAY’s anti-fraud and anti-money laundering technology into the association’s financial crime joint defense working group, building a suitable real-time monitoring and joint defense platform for digital asset platforms, financial institutions, law enforcement agencies, and regulatory agencies in Taiwan and even Asia.
Cai Yuling, Honorary Chairman of the Taiwan FinTech Association and also the Chief Advisor of the Republic of China Virtual Currency Business Association, stated that XREX Group is an international financial institution with blockchain technology that works closely with banks, governments, and users to rewrite the definition of finance. They help companies in developing countries or those doing business with developing countries to handle cross-border financial services, while also providing the most user-friendly experience for global cryptocurrency beginners.
Founded in 2018, XREX Group provides one-stop services, including digital asset custody, wallets, cross-border payments, fiat and cryptocurrency conversion, cryptocurrency exchanges, diversified asset investments, fiat deposits and withdrawals, and more. XREX Group regards inclusive finance as a social responsibility and hopes to use blockchain technology to promote financial participation rights, financial usage rights, and financial education rights. XREX Group’s Singapore subsidiary obtained a license from the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) in May 2024, and its Taiwan subsidiary, ChainTech Corporation, completed its anti-money laundering compliance statement with the Financial Supervisory Commission in March 2022.
Note: This translation is provided as is and does not represent the views or investment advice of the translator or OpenAI. Readers should exercise their own judgment and discretion.