Compliance

Last updated at November 28, 2024

Our primary goal at illumineX is to provide our users with a safe and compliant environment for cross-chain privacy. We are committed to safeguarding both our users, as well as the protocol itself, from fraudulent and illicit activities within the crypto space. All of this is made possible by our robust compliance framework.

We believe that having the appropriate compliance framework is the cornerstone of sustainable privacy products in crypto
Tornado Cash and Samourai Wallet failed due to not being compliant, while being successful crypto protocols in the start
IlluminneX protects itself from illicit funds and malicious actors by implementing a robust AML policy and being transparent about it
IlluminneX is not a crypto mixer. Instead we offer a highly scalable and compliant privacy solution by using Oasis Sapphire TEE technology

Privacy is a fundamental right

Given the transparent nature of public blockchains like Bitcoin and Ethereum, crypto users are accustomed to all transactions being publicly visible on the network. While this kind of transparency comes with many benefits, there are some obvious disadvantages for the individual user. Whether you are sending money to a friend, paying for goods or services with crypto, or simply moving your assets between wallets, there are many situations where you don’t want your entire balance and transaction history to be visible. By using illumineX, anyone can shield their assets from public exposure, and break the public link between the source and destination address.

By default, the user’s transactions on illumineX are completely private, meaning neither the public nor the illumineX foundation can see the data related to the deposits/withdrawals or link the source and destination addresses together. However, it is technically possible for the illumineX foundation to request the transaction data on-chain if required to do so by law. We will never request transaction data for any transaction unless we are required by law to provide information to government and law enforcement agencies. Any request for transaction data done by us must be submitted on-chain, meaning the request itself will be publicly visible, giving our users full assurance that we are never misusing this mechanism.

Anti-Money Laundering (AML) Policy

illumineX protects itself from involvement in any activity that may facilitate money laundering or other illicit activities by employing a robust AML policy. We use a two-pronged approach to achieve optimal results.

Addresses listed on the OFAC sanctions list are restricted from depositing funds with illumineX. If a transaction is attempted from an OFAC-listed address, our AML system will automatically block the deposit and return the funds, as we do not have the capability to freeze them.

We are committed to being a legitimate and law-abiding DeFi protocol. To maintain this reputation, we strictly prohibit any individuals or business entities suspected of money laundering, fraudulent transactions, or other illegal activities from using illumineX.

By utilizing the Oasis Privacy Layer (OPL), and taking an innovative approach to fulfilling its compliance obligations, illumineX is the first decentralized protocol that can offer both private and compliant cross-chain transactions.

Law Enforcement Inquiries

Any requests or inquiries by law enforcement authorities can be sent to us at: [email protected]