Bitcoin

More than $ 1.4 billion laundered this year has been deposited on cryptocurrency exchanges

The latest report from Peckshield, a blockchain security company, shows that more than $ 1.4 billion in money laundering was transferred to cryptocurrency exchanges in 2020.

Peckshield says they have been collecting data both online and offline for more than a year. After reviewing and analyzing this data, they were able to identify it to over 100 million transaction addresses. They also managed to choose more than 50 million traditional wallet addresses on crypto exchanges.

Through leverage Peckshield, a digital asset tracking platform called CoinHolmes, found that around 147,000 Bitcoin (worth more than $ 1.4 billion) were listed on exchanges this year.

More than $ 1.4 billion laundered this year has been deposited on cryptocurrency exchanges
More than $ 1.4 billion laundered this year has been deposited on cryptocurrency exchanges

According to the message, These assets are associated with hacker attacks, the dark web economy, gambling, etc. Most of the stolen funds ended up on major cryptocurrency exchanges. According to the Peckshield report:

“We rated the exchanges with the most stolen money and found that the top ten exchanges were Huobi, Binance, Okex, ZB Gate.io, Bitmex, Luno, HaoBTC, Bithum and Coinbase.”

Peckshield report

Source: Peckshield report

Peckshield emphasized that some of the monitored addresses also moved their money between different cryptocurrencies, making it difficult to continue tracking.

“As of June 30, 2020, we monitored high-risk addresses, of which $ 1.62 billion were blacklisted and $ 15.9 billion were multi-currency service providers. In particular, it should be emphasized that most of the funds transferred to these providers have been successfully washed. “

As Cointelegraph previously reported, wallets linked to PlusToken were followed by massive sales of cryptocurrency exchanges in open markets. This in turn led to price declines at BTC, ETH and various altcoins.

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