RocketX employs a robust Anti-Money Laundering (AML) and Know Your Customer (KYC) protocol, bolstered by a risk mitigation system utilizing on-chain analysis. In the event that the algorithm detects a suspicious transaction, the exchange temporarily puts the swap on hold and requests the user in question to verify their identity.
There exists a specific set of criteria that the algorithm utilizes; however, revealing these criteria publicly is not feasible, as it could lead to users attempting to exploit them for fraudulent purposes.
This system has proven highly effective in combating money laundering and fraudulent activities. The KYC process enables us to swiftly and efficiently distinguish between genuine customers and scammers.
Each KYC case is treated on an individual basis. If a particular transaction raises suspicion, the swap is temporarily halted, and the user is requested to log into the app and complete the KYC process using our partner Blockpass's verification tool. Users are granted a four-day window to complete the verification procedure. Should a user opt not to undergo KYC, they have the option to decline (in such cases, kindly contact us at [email protected]) and receive a refund, with network fees deducted, within 24 hours. RocketX retains the authority to blacklist the associated address (or addresses), rendering them ineligible for future swaps through our service.
Upon RocketX's confirmation of the user's successful completion of KYC via Blockpass, the swap concludes successfully, and the funds are then transferred to the recipient's wallet address.
We are unwavering in our commitment to uphold our reputation as a legitimate and law-abiding exchange service, suitable for all users, whether they are newcomers to the crypto world or seasoned traders and miners. As such, RocketX reserves the right to apply the KYC/AML procedure to specific users or wallet addresses.
RocketX vehemently opposes money laundering and illegal activities, and consequently refrains from engaging in any business arrangements with individuals or business entities suspected of involvement in such activities.
In instances where a client submits falsified documents, the KYC/AML process is considered unsuccessful, and the deposited funds are promptly refunded to the originating address (or addresses), minus network fees, within 24 hours. RocketX maintains the prerogative to blacklist the associated address (or addresses), rendering them ineligible for future swaps using our service.