Avoid Kucoin exchange..

More like avoiding dealing with all those exchanges that have been sanctioned by the EU if you don't want your funds blocked by other major centralized exchanges. Yes, that is where we are now.

I think centralized exchanges should also start providing their users with AML screening tools. These tools should be built within an exchange app or website and should be free of charge to help users know the AML risk of their funds before making any deposit on to the exchange

Quote from: Bitcoin_Arena on Today at 08:41:25 AM

That free AML tool is actually helpful for normal people not experience any possible issue with the casino.

But it also have a downside, since scammers can actually use that free tool they provide to possibly now that their funds has been detected. Then change their strategy and find other best alternative route to escape and withdraw their stolen funds.

If exchange start to adopt that. I think they need more deeper checks for those huge deposit and withdrawal to know if there's shady matters happened in their transactions.

Quote from: avp2306 on Today at 01:11:03 PM

But it also have a downside, since scammers can actually use that free tool they provide to possibly now that their funds has been detected. Then change their strategy and find other best alternative route to escape and withdraw their stolen funds.

You have a very valid point, but when you think about it, a scammer would have to be downright dumb to attempt to move stolen funds through a custodial/centralized service, there can only be one outcome of that. So, to be fair i think this would benefit legitimate users, rather than bad actors.

Someone could say that there are other free AML checking tools out there, but you can never be sure how it compares against the screening tool used by the exchange themselves.

Quote from: jcojci on Today at 04:06:26 AM

Slowly we will lose freedom in the exchanges because the exchanges will checking everything before we can accept the funds in our exchange account. First Binance, second KuCoin, what next?

Two big exchanges are doing this, so it will become a standard; many exchanges will follow their lead. They need to follow regulators to stay competitive; exchanges cannot afford to lose major markets or their user base.

You have nothing to worry about this if your account or funds are clean, but you have to check and be sure that it's indeed clean. If you're a big trader and can't afford to have your account flagged, monitor all transactions. I think there are third parties tol that can do this.

Quote from: avp2306 on Today at 01:11:03 PM

Knowing or tracing the origin of funds is common knowledge, and besides, there are paid AML screening tools out there, so scammers will still use those. The issue here is for the common users to know exactly what kind of funds they are going to deposit in an exchange - Does the exchange consider their funds "clean" or not?

Imagine depositing funds you received from another service only for the exchange to block them, stating that the funds is from stolen sources. How will you prove that you are not the hacker?
But if you use the AML tool provided by the exchange, before you even deposit the funds, you will know that the money is from illicit sources