Hex Safe is integrated with blockchain analytics provider Chainalysis for transaction screening to detect suspicious behaviour.
Hex Safe leverages Chainalysis to screen client wallet addresses in order to identify sanctioned or high-risk wallets. Whenever a client initiates a deposit or withdrawal, Hex Safe invokes the Chainalysis API to obtain the transaction's risk level.
The transaction can fall into two risk categories, either Low/Medium risk or High/Severe risk.
Low/Medium Risk
The transaction is completed automatically, the balance on Hex Safe is updated.
A transaction is completed only if the risk score is Low/Medium
High/Severe Risk
Deposits: Our compliance team conducts an internal review. After the due process is completed and the transactions passes all compliance checks, only then the incoming funds visible on Hex Safe.
Withdrawals: Process will be rejected and users will be prompted to use a different wallet address for withdrawal.