Uniswap Has Blacklisted 253 Crypto Addresses Linked To Sanctions Or Stolen Money

While collaborating with blockchain analytics company TRM Labs for the past four months, decentralized exchange Uniswap has blacklisted 253 cryptocurrency addresses.

It was the first time Uniswap had made wallet blacklisting data public.

Most of the addresses were blocked as a result of links to stolen money or firms that mix transactions, including Tornado Cash, which the US Treasury recently sanctioned.

Yearn Finance core developer Banteg saved the data in a Twitter thread and on GitHub, citing Uniswap software engineer Jordan Frankfurt as the source. We asked Frankfurt and Uniswap for comments; if we hear back, we’ll update this post.

Uniswap is made up of three main components: code that runs on the blockchain and can be seen by anyone; a front-end website that gives users a method to interact with the code; and a US-based company that creates the protocol and manages the front-end website. Crypto addresses are blocked at the front-end level.

In April, Uniswap and TRM Labs teamed. When a user interacts with the Uniswap website, TRM Labs receives their address and assigns it a risk level.

Uniswap is in charge of determining what degree of risk it is willing to accept

Uniswap first blacklisted addresses that were indirectly connected to sanctioned addresses, but has recently toned it down, according to Frankfurt’s comments on GitHub. Now, it only blocks addresses that were sanctioned or that have really received monies that were either stolen or broken into.

A graphic posted on GitHub details the seven types of illicit conduct that TRM Labs looks for while checking addresses. Stolen funds, funds from a transaction mixer, sanctioned addresses, and monies from a known fraud are the four main categories that are frequently detected. The three remaining categories include money used to finance terrorism, money from recognized hacking groups, and materials involving child sexual assault.

In order to make it simpler to deliver cryptocurrency payments to those wallets, 30 of the addresses were linked to ENS names, according to Banteg. The majority of them, in Banteg’s opinion, were probably authorized users.

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