Binance was accused of money laundering for $2.35 billion

Binance, the world’s largest cryptocurrency exchange, has laundered $ 2.35 billion in unlawful cash during the last five years.

According to Reuters, the transactions were tied to hacking, financial fraud, and drug trafficking. Court records, law enforcement statements, and blockchain data were all used by the agency.

According to the agency, millions of dollars in Eterbase funds were lost as a result of unlawful payments made through Binance between 2017 and 2021. In the year 2020, the hacking collective Lazarus broke into a tiny Slovak crypto exchange and stole $5.4 million in digital money.

The hackers are reported to have launched at least 20 anonymous Binance accounts hours later, allowing them to convert the stolen funds and conceal the trail of money. According to Reuters, this data stems from the accounts Binance provided with the police.

According to blockchain data, the crypto exchange has been processing transactions for the world’s largest drug market, the Hydra darknet site, for the past 5 years. The exchange was utilized by vendors and buyers to send and receive $780 million in cryptocurrency payments.

Related Posts

Obtaining and selling cryptocurrencies cheaply

Despite the more and more massive adoption of cryptocurrencies around the world, it is still impossible to do without fiat money. Cryptocurrency holders increasingly need to regularly…

Dogicoin

Dogecoin and its five advantages

Dogecoin is a cryptocurrency that was created on the basis of a popular meme of a Shih Tzu dog named “Dozhech”.  Dogecoin was launched in December 2013…

Integration of NFT in Facebook crypto market news

Meta integrated NFT into Facebook, and Mishustin called digital assets an alternative for international payments – these and other important news of the cryptocurrency market in our…

Nike’s leadership in NFT sales

Analysts named Nike the leader in NFT sales among major brands, and the US authorities will tighten enforcement of sanctions by crypto platforms – these and other…

Google invested $1.5 billion in blockchain companies

Google has invested $1.5 billion in 4 blockchain companies since September 2021. Coinbase will suspend operations with Ethereum during the “Merger” of the network – these and…

Hacking thousands of wallets of Solana users

Solana revealed the details of the hacking of thousands of user wallets, and Twitter sued Binance representatives in the case against Elon Musk – these and other…

Leave a Reply

Your email address will not be published. Required fields are marked *