DeFi Oasis.app is reported by users that their wallet address has been disconnected and cannot access the platform after updating the terms of service because it is believed to be a high-risk wallet address. However, it is not clear what tools this Defi platform uses to assess the risk of wallet addresses.
According to users’ feedback on the Discord community, their sessions are disconnected when trying to access Oasis. The platform says that the sanctioned addresses will no longer be able to access the app. Due to the change in terms of service, wallets flagged as high risk will be banned from using Oasis.app to manage positions or withdraw funds. Instead, such a user must directly interact with the underlying protocol involved where the funds are stored, or find another service.
The app development team also explained that the user’s wallet addresses violated the newly updated terms of service.
“We’ve recently needed to update the Terms of Service of the Oasis.app front-end to comply with the relevant laws and regulations. In line with the latest regulations, Oasis.app has an updated Terms of Service. Any sanctioned addresses will no longer be able to access Oasis.app functionality.”
Oasis.app team member Gabriel said
At the time of publication, it is not immediately clear which tools Oasis is using to identify wallets deemed to be high risk. Similar to Oasis, decentralized exchange Uniswap recently began to block wallets allegedly associated with illicit activities by using TRM Labs’ data. TRM Labs helps entities detect and investigate crypto-related financial crime via on-chain analysis.
Thus far, feedback regarding Oasis’ new measure has been mostly negative.
“I’m actually just interacting with Oasis with an account that has had direct exposure to Tornado Cash. I can’t reproduce the issue that others are getting, so it’s probably just that the team is incompetent and has applied some very wide net with arbitrary holes in it.
One Discord user, Eagles#2541, claims
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