How Illicit Funds Are Exploiting Stablecoins and Centralized Exchanges

Quick Summary:

A new report from Chainalysis has revealed an astonishing finding: digital wallets believed to be linked to criminal activity have transferred close to $100 billion in illicit Funds through the cryptocurrency market since 2019.

This concerning pattern has witnessed substantial amounts directed into stablecoins and centralized exchanges (CEXs).

This article will delve into details.

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Article Details

Author / Journalist: Jane Lubale

Category: Crypto

Markets: India

Topics: Centralized exchanges Illicit Funds Blog Stablecoins

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-12 @ 10:25:31 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 500 words

Reading Time: 3 minutes read

Sentences: 46 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21583732

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 31 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #59

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