AML Risk Control - "88Ex User Safety Manual": Asset Protection Guide You Must Know

Foreword

As the entire cryptocurrency industry develops and grows, more and more users are starting to pay attention to a core issue: Is my money safe?

Recently, the 88Ex platform launched an upgrade to its AML (Anti-Money Laundering) risk control system, which may result in secondary verification or manual review for some users' transactions and withdrawals. We understand that this may cause some inconvenience, but the sole purpose is to ensure the security of the platform system and protect users' assets from harm.

This article will give you a comprehensive understanding of: How should users protect themselves? What efforts has the platform made behind the scenes to safeguard users' funds?

1. Why do your funds face greater risks in the cryptocurrency industry?

2. Incorrect on-chain address entry and password, email leakage

• Once the address is filled incorrectly or the chain is selected incorrectly, the assets will be irretrievable.

• Common mistakes include entering a TRC20 address into the ERC20 network.

• Using weak passwords and repeated passwords can easily be breached.

• No Google verification, account is easily hacked.

2. Phishing and Fake Apps

• Hackers deceive users into revealing their mnemonic phrases and private keys by impersonating the official website or app.

• Many people have been scammed into withdrawing funds by believing some fake "customer service".

Typical case: The theft incident in 2025 set a historical record. By mid-2025, service providers compensated users for asset losses totaling over $2.17 billion, surpassing the total amount for the entire year of 2024. So far in 2025, there have been numerous victims of stolen funds in the United States, Germany, Russia, Canada, Japan, Indonesia, and South Korea.

3. Illegal Fund Inflows

• Receiving funds from unknown sources (airdrops or transfers) may be mistakenly identified as a money laundering pathway, resulting in account suspension.

Typical case: AML risks have fully escalated, with industry fraud increasing by as much as 48%. The platform's automated identification and review capabilities need improvement, and the issue of wash trading is severe, with Chainalysis reporting over $2.57 billion in suspicious transactions.

2. How can users enhance the security of their funds?

3. Multiple Security Settings

Advanced Protection:

• Hardware 2FA verification: Prevents the APP from being tampered with by Trojans.

• Exclusive device use: Transactions should only be conducted using one mobile phone, without mixing work or social accounts.

Case: In 2025, a user was impersonated by a fake customer service on Telegram, leading to the disclosure of a verification code and resulting in asset theft. The reason was that Google 2FA was not enabled.

2. Daily Operating Habits (Preventing Misoperations)

Case: A user transferred USDT to the BEP20 chain, and due to the similar address format, it was not discovered in time, resulting in the assets being unrecoverable.

3. Summary and Recommendations

4. How does 88Ex safeguard user asset security?

In centralized trading platforms, asset security is the fundamental cornerstone of trust. 88Ex adopts a multi-layered and multi-technical security protection system, starting from the integration of "pre-warning → interception during the event → post-event tracking" to construct a comprehensive asset protection solution.

1. 88Ex has always regarded security as the core gene of the platform, adopting multiple defense lines:

1. Multiple risk control mechanisms:

• AML Anti-Money Laundering System: Real-time monitoring of suspicious transactions and unusual withdrawal behaviors.

• Behavior Recognition System: Identifies abnormal logins, cross-region switching, and other risky operations.

• Withdrawal risk control strategy: Large withdrawals require secondary confirmation or manual review to prevent theft.

2.) Separation of hot and cold wallets

• The vast majority of user assets are stored in offline cold wallets.

• Hot wallets only retain the liquidity needed for operations, reducing the probability of being attacked.

3. Multi-signature wallet mechanism

• Important fund operations require multiple manager signatures

• Eliminate single points of failure or internal malicious actions

Complementarity: Hot and cold wallets defend against external attacks, while multi-signature addresses address internal risk control.

2. Multi-layer risk control capability

User Behavior and Security Education:

• Encourage users to enable 2FA Google verification and prohibit duplicate passwords.

• Emphasize downloading and using official channels, beware of phishing links and fake customer service.

• Guide users to avoid accepting unknown fund airdrops or transfers to prevent their accounts from being involved in money laundering pathways.

3. Risk Control and Trading Behavior Identification System

1. Behavioral Risk Control System

2. Blockchain AML Tracking (On-Chain Risk Control)

4. Withdrawal Security Control Process

Withdrawals are the easiest stage to be attacked, and 88Ex has set up multiple risk control processes:

5. Summary

88Ex protects every user's assets with a six-layer defense: