coin-img-ETHETH-4.08%coin-img-BTCBTC-4.50%coin-img-SOLSOL-2.48%coin-img-UCNUCN+0.80%coin-img-XRPXRP-3.44%coin-img-USDCUSDC+0.02%coin-img-ASTERASTER+5.39%coin-img-DOGEDOGE-2.74%coin-img-ETHETH-4.08%coin-img-BTCBTC-4.50%coin-img-SOLSOL-2.48%coin-img-UCNUCN+0.80%coin-img-XRPXRP-3.44%coin-img-USDCUSDC+0.02%coin-img-ASTERASTER+5.39%coin-img-DOGEDOGE-2.74%coin-img-ETHETH-4.08%coin-img-BTCBTC-4.50%coin-img-SOLSOL-2.48%coin-img-UCNUCN+0.80%coin-img-XRPXRP-3.44%coin-img-USDCUSDC+0.02%coin-img-ASTERASTER+5.39%coin-img-DOGEDOGE-2.74%coin-img-ETHETH-4.08%coin-img-BTCBTC-4.50%coin-img-SOLSOL-2.48%coin-img-UCNUCN+0.80%coin-img-XRPXRP-3.44%coin-img-USDCUSDC+0.02%coin-img-ASTERASTER+5.39%coin-img-DOGEDOGE-2.74%

Crypto Exchanges Received $28B in Illicit Funds Over Two Years, NYT Reports

Major cryptocurrency exchanges received at least $28 billion linked to illegal activities over the past two years, The New York Times reports. The funds traced back to hackers, ransomware operators, North Korean cybercriminals, and fraud networks spanning Minnesota to Myanmar. Binance received over $400 million from Cambodia's Huione Group after its 2023 guilty plea and $900 million from North Korean hacker-linked accounts in 2024, while OKX received over $220 million from Huione within five months after settling with U.S. authorities for $504 million in February for violating money transmission laws, according to the report. Global exchanges received at least $4 billion in scam-related funds in 2024, with stolen assets flowing to Binance, OKX, Bybit, and HTX, while over $500 million moved from crypto-to-cash counters into Binance, OKX, and Bybit in the prior year, the Times reported.
Selected
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.