Most Criminal Cryptocurrency Funnels Through Just 5 Exchanges

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The crypto money-laundering market is tighter than at any time in the past decade, and the few big players are moving a “shocking” amount of currency.

Chainalysis declined to name the five exchanges it says enabled the majority of cryptocurrency money laundering. That’s because, the company says, those exchanges may be the targets of ongoing investigations. Further, the exchanges may not actually be aware that they’re enabling that money laundering, since money launderers often take pains to hide the source of their funds before it hits an exchange.

In another growing subset of cases, Chainalysis says, criminals are turning to individual dark-web-based money-laundering services, many of which offer to hide the origin of funds by combining them with other users’ transactions in a “mixer.

When WIRED reached out to the US Treasury, an official there declined to comment on any specific exchanges or ongoing investigations.

 

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USD is the safest way to do criminal shit. Always has been

and to think, all we had to do was make cryptocurrency useless.

Cryptocurrency is a scam.

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