TRM Labs in Action
The zkBob integration with TRM Labs prevents bad actors from depositing or withdrawing from zkBob.
Many good actors are finding their way to zkBob and using it for private transactions, and ordinary use cases like salary distributions and donations are driving zkBob usage. Unfortunately, privacy applications can also be a magnet for illicit usage, and one bad apple 🍎 can spoil the whole bunch.
zkBob is committed to preventing illicit usage. Compliance measures like tiered limits and KYC options prevent many bad apples from using the protocol. However, some sanctioned actors still try to access zkBob...not many, because they know the protocol is protected, but a few still try. This is where TRM Labs steps in. Over the past few weeks we've seen 9 such attempts, each thwarted by our integration with TRM Labs.
The zkBob integration with TRM Labs prevents bad actors from depositing or withdrawing from zkBob. TRM is a leading risk management protocol that identifies suspicious blockchain wallets. These wallets may have participated in illicit activities (like dark web transactions) or received transfers from known hacks or sanctioned addresses. TRM is constantly monitoring the chain for illicit activities and identifying wallets engaged in these activities.
With the TRM integration, when an identified wallet attempts to make a deposit (or a withdrawal is requested to a sanctioned wallet) with zkBob, the deposit or withdrawal is rejected. It's that simple, and it keeps illicit funds from entering the protocol and the good actors safe on zkBob.
