The latest report published by Peckshield, a blockchain security company, revealed that over $1.4 Bln of laundered money has been transferred onto cryptocurrency exchanges within this year in 2020.
Peckshield added within its report that it’s been collecting data both online and offline for over an one year from now. After verifying and analyzing the info, they were able to trace over 100 Mln transaction addresses. They were also to label over 50 Mln mainstream cryptocurrency related wallet addresses at different cryptocurrency exchanges.
By leveraging a digital asset tracking platform called CoinHolmes, Peckshield found that over 147,000 Bitcoin [worth over $1.4 Bln USD] has been transferred onto exchanges this year.
In line with the report, these assets were related to hacker attacks, the dark web economy, gambling, and so on. Most of the stolen funds landed in several leading cryptocurrency exchanges. consistent with Peckshield’s report:
“We ranked the exchanges with the largest amount of stolen money, and located that the major 10 exchanges were: Huobi, Binance, Okex, ZB Gate.io , Bitmex, Luno, HaoBTC, Bithum, along with the Coinbase.”
Peckshield emphasized that a number of the monitored addresses have also shifted their funds to crypto mixers, which make it difficult to continue tracing them.
“As of 30th June, 2020, we’ve monitored the high-risk address, of which $1.62 Bln flowed into the blacklist address and $15.9 Bln into the mixed currency service provider especially it should be emphasized that the majority of the funds through the mixed currency service are successfully laundered.”
As reported earlier, wallets related to PlusToken are followed by suspected massive open market sales on crypto exchanges. In turn, this led to spikes within the prices of Bitcoin [BTC], Ethereum [ETH] along with other leading altcoin’s.