Topic: Node AML: Secure Self-Custodian Crypto-Processing with AML (Read 127 times)

examplens, thank you for the advice. I moved the thread to the Service Announcement section as suggested. I also want to personally thank you for your feedback. Thanks to you, we made some improvements to the product. Wishing you success in all your endeavors.

I already mentioned, that maybe you accidentally overlooked it or didn't understand. This thread is more suitable for the Service Announcement part of the forum, so it would be good to move it there.
In the bottom left corner, there is a "move topic" option, then choose the proposed board. Or even ask moderators to do it for you.

OK, it is certainly positive to see some good manners in communication.

Thank you for your detailed feedback. We appreciate the opportunity to clarify these issues.

We strive to create a platform that meets the highest standards of security and reliability. Your input is crucial in this process. As LinkedIn co-founder Reid Hoffman said, "If you are not embarrassed by the first version of your product, you've launched too late."

1. **Access to Wallet and Funds**:

   - As mentioned earlier, you can set up a co-signer on your side. In this case, we will not have access to the seed phrase at all. All transactions will be signed on your side, allowing the client to verify and confirm each transaction independently. We will only provide notifications about incoming transactions and the results of AML checks. However, since this might not be convenient for everyone due to the need for an additional server on the client’s side, we offer the client the choice.

2. **Transit Wallet**:
   - The transit wallet is derived from the client's seed phrase and is under their control. If funds are found to be problematic, we simply provide the information, and the client decides whether to return the incoming funds to their sender or hold them. We do not hold any funds on our side at all.

3. **Startup Development Stage**:
   - As a startup, we are in the early stages of our journey. We chose to present our platform to gather feedback and continuously improve it. While our website and logo are still under development, our core functionalities are robust and secure.
   - We take all feedback seriously and strive to address any identified flaws promptly. Our goal is to build a secure and reliable platform, and we are continuously working to enhance our services.

Thank you for your patience and understanding as we work to improve our platform.

This is a problem because at some point a third party has access to the assets. Users need to trust you as beginners and hope that nothing will go wrong.
You will probably have to open the source code in order to test it and confirm that there is nothing malicious inside. For me, this is a red flag

What is a transit wallet? Shouldn't funds be returned to the user if they don't meet your platform's criteria?

It is unclear why you rushed to present an incomplete platform, even though you did not correct the obvious flaws. How can we be sure that you haven't made similar mistakes where it's even more important, wallet code, API... Quite an amateur start.

Hello Shield132,

Thank you for your interest in our product and for your valuable feedback.

As we mentioned to examplens, we are currently a startup, which is why our website and logo are still under development. Our goal is to find our first clients whom we will serve for free, tailoring our product to their needs for improvement.

We will be registering on LinkedIn in the coming days to provide more transparency and information about our company.

Regarding our approach to anti-money laundering (AML), our primary goal is to simplify our clients' compliance processes. We notify them of any problematic funds and provide crypto processing that ensures they maintain control over their assets.

Thank you for helping us become better. We will address all the points you mentioned as soon as possible.

Hello examplens,

Yes, you understood correctly. Our API will have access to the wallet and the funds inside it, but only when the user activates it. The seed phrase will be stored in encrypted operational memory, and if the user stops the service, the decrypted seed phrase is not saved anywhere. Additionally, the service can operate in a mode where transactions are signed using a cosigner. In this case, our API does not have direct access to the wallet, and each transaction is confirmed on the client's side, ensuring maximum security.

AML checks are conducted when a transaction is received by the transit wallet derived from the seed phrase. If the check indicates that the funds are problematic, we notify the user, and the funds remain in the transit wallet. If the funds are clean, they are transferred to the hot wallet or the user's exchange account for hedging, depending on the user's needs. For AML checks, we use Crystal.

Thank you for pointing out the inconsistency in the information. It was a placeholder on the website. As you rightly noted, the site is only 26 days old and not fully ready for production. We have promptly corrected the information you mentioned.

Although we have been in this field for a long time, we created this thread for our new startup to gain market traction and find the first interested clients who will be serviced for free and whose needs will help us improve the product.

Thank you for bringing attention to our thread. If you have any further questions, we will be happy to answer them.

I want to read Latest Insights and Updates from Nodeaml, why do I have to log in to read news on your website? Learn More button doesn't work, it's without a link. You don't have a logo, your logo is text written in some font. I can't find any information about you on LinkedIn. You claim that you are trusted by companies like Revolut, eToro, WisdomTree, Checkout.com and etc... That's a very bold statement, do you understand? It's also hilarious that you are AML oriented company and use exclusively telegram here. Even your Telegram has only 4 subscribers. Are you kidding us? It looks like a scam.

Probably a more appropriate place for this thread is in the Service Announcements board, you can move it there.

Did I understand correctly, that your API will have access to the wallet and the funds inside it?
How do you perform the AML check, could you explain a little?

Can you explain where you got $4T+ transactions secured and 170 M+ wallets created? You've only existed for 26 days, it's a bit unreal that you already had so many users. In fact, you are giving false information like this to impress site visitors.
Also, trusted by 1800 leading organisations  

Hello Bitcointalk Community,

We are excited to introduce Node AML, a cutting-edge self-custodian crypto-processing solution designed to provide maximum security and compliance with integrated AML features.

Key Features:

   1.   Self-Custodian Security: Users maintain full control of their funds, eliminating the risks associated with third-party custodians.
   2.   Integrated AML: Our platform includes advanced AML functionalities to ensure compliance with global regulatory standards.
   3.   Easy Integration: Seamlessly integrate our solution into your existing infrastructure with our comprehensive API.
   4.   User-Friendly Interface: An intuitive interface designed for both beginners and experienced users.
   5.   24/7 Support: Dedicated customer support to assist you with any questions or issues.

Why Choose Node AML?

   •   Full Control Over Your Funds: With our self-custodian model, you retain complete control over your funds at all times.
   •   Pre-Transaction AML Checks: AML checks are performed before transactions are drained to hot wallets or exchanges, minimizing the risk of funds being blocked or accounts frozen. You will be notified about such transactions, allowing you to decide how to proceed.
   •   Cost Savings: Most crypto processing services charge a 1% fee, but we don’t charge you anything. You pay only the network fees directly, with no additional charges from us.
   •   Post-Processing Automation: You can set up scripts to automatically transfer incoming funds to exchanges or hedge funds with liquidity providers.
   •   Flexible Operational Modes: Adjust our service to your needs by generating individual addresses for each user or reusing addresses to save on commissions.
   •   Customizable Features: Need new functionalities? We are ready to develop features tailored to your specific needs.

Get Started Today!

Visit our website nodeAML.com to learn more and sign up. We are offering a limited-time trial for new users to experience the benefits of Node AML.

Contact Us:

For any inquiries, feel free to reply to this thread or contact us directly on Telegram at https://t.me/nodeaml.

Join us in revolutionizing crypto-processing with security and compliance at its core!

Best regards,
Node AML team
[email protected]
nodeAML.com
https://t.me/nodeaml

This format highlights the unique advantages of Node AML, provides all the necessary links for further information and contact, and encourages potential users to engage with your service.