DeFi platform Oasis will block sanctioned addresses

by in DeFi News

Oasis

Sanctioned wallets will not be able to access the Oasis DeFi platform application at the front-end level.

As a result of the change in the Terms of Service, addresses marked as high risk will be prohibited by the platform from using Oasis.app to manage positions and withdraw funds.

“We recently needed to update the Front End Terms of Service to comply with applicable laws and regulations. […] Any sanctioned addresses will no longer be able to access the functions of the Oasis.app,” the project representative explained. The platform did not disclose what tools it uses to identify high-risk wallets. The developer under the pseudonym banteg suggested that Oasis, following Uniswap, turned to the services of TRM Labs.

According to the site, the protocol manages $3.42 billion worth of deposits, with transaction volume over the past 30 days totaling $4.6 billion.

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Recall, on August 8, the US Treasury imposed sanctions against the mixer Tornado Cash for laundering $ 7 billion, including funds associated with the North Korean hacker group Lazarus Group.

This caused a wave of tightening compliance in the industry. Decentralized derivatives exchange dYdX has begun blocking the accounts of users who previously interacted with the mixing service.

Circle has blacklisted the USDC addresses of 38 Tornado Cash wallets. One of the stablecoin operators blocked the movement of at least 75,000 USDC.

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TVL’s largest DeFi protocol, MakerDAO, has decided to rebalance its DAI stablecoin supply by getting rid of 3.5 billion USDC. Ethereum co-founder Vitalik Buterin criticized the idea of ​​the platform.