Assure DeFi Assists the FBI and US Attorney’s Office in Criminal Investigation

Cincinnati, Ohio, May 9, 2023:The US Attorney’s Office and the Federal Bureau of Investigation (FBI) have sent a subpoena to Assure DeFi, to help collect the information of and identify a potential scammer. The move is part of the US government’s continued crackdown on scams in the crypto industry.

Assure DeFi is a Web3 security company that privately verifies the identity of anonymous and doxxed Web3 project teams then stores the verification data in Swiss bank-grade-level encrypted servers. This verification information is only accessible if and when the company receives a valid subpoena from law enforcement agencies.

Recently, Assure DeFi received a request for assistance and a subpoena from the FBI and US Attorney’s Office, to identify and support potential prosecution of a WEB3 scammer who had completed our KYC verification. Assure DeFi’s unique approach to KYC verification, which includes active fraud pursuit and strict compliance measures, enabled us to identify the potential scammer and provide the necessary information to law enforcement. As part of its commitment to combating fraud and ensuring accountability in the Web3 space, Assure DeFi  maintains strong relationships with global law enforcement agencies and actively supports the prosecution of those committing WEB3 fraud. 

While getting audited and using multisig can provide some protection for investors, it is important to note that these measures only provide negligible protection or investment comfort without a professional KYC verification in place. A proper KYC verification allows for an accountability trail if the audit, multisig, or other measures are not managed properly. Therefore, it is crucial for investors and projects to work with reputable KYC verification companies like Assure DeFi to ensure the safety and transparency of the Web3 industry.

The subpoena sent to Assure DeFi is part of a wider effort by the US government to regulate the crypto industry and prevent potential scams and fraudulent activities. With the rise of Web3 and the increasing popularity of decentralized finance, regulators are paying much closer attention to all aspects of the WEB3 industry, especially to those requesting project investment and/or the service providers assisting in the process.  Smart key participants are taking steps to ensure they and the market operate in a fair and transparent manner. In 2022 alone, over $6 billion dollars were lost to crypto scams, and most took place due to a lack of accountability and consequences. By working closely with highly professional and thorough KYC verification companies like Assure DeFi, regulators are able to identify potential fraudulent activities and take action against those responsible.

In a statement, Assure DeFi said “We continue to cooperate with the proper authorities and we take our role in crypto fraud prevention and security industry seriously.”  The company has constantly emphasized the importance of high-quality professional KYC verifications in fighting scams and fraudulent activities.  As the leader in crypto KYC verification, they have  pledged to continue working with regulators and law enforcement to ensure that the industry is safe and transparent for everyone.

Increased actions against fraud by the US government is encouraged by those in the crypto industry who understand that a substantial reduction in WEB3 fraud is needed, to allow the industry to capture substantial additional investment and grow rapidly.  As the crypto industry continues to grow and evolve, it is expected  that we will see more actions by regulators to ensure that it operates in a safe and transparent manner. 

About Assure DeFi 

Assure DeFi™ is a blockchain security company which pioneered the leadership verification services market. Altcoin project founders and NFT creators rely on Assure’s data integrity and anonymity promise, key tenets of the crypto culture; while its market leading Gold Standard Verification empowers investors and collectors with an unmatched accountability chain and active recourse support. A US registered LLC, Assure DeFi™ serves to reduce fraud and provide credibility to legitimate innovators, with a broad vision of creating a more investable blockchain.


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CEO, Assure DeFi 

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