RATE Group | Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019
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Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019

16 Jan Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019

Posted at 18:38h in Cryptocurrency News by

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Binance and Huobi have together received over 52% of total $2.8 billion illicit Bitcoin (BTC) transfers in 2019, according to a new report.

Chainalysis’ findings

Over the course of 2019, criminal entities moved a total of $2.8 billion in Bitcoin to cryptocurrency exchanges, according to a Jan. 15 study from Chainalysis.

According to the New York-based firm, Binance and Huobi, two of the world’s largest crypto exchanges to date, have received 27.6% and 24.7% of total transfers from criminals in 2019. As such, the two major crypto trading platforms are allegedly responsible for acquiring over a half of all illicit Bitcoin in 2019, while all other exchanges combinedly received 47.8%.

Cryptocurrency exchanges receiving illicit Bitcoin in 2019

Cryptocurrency exchanges receiving illicit Bitcoin in 2019. Source: Chainalysis

Only 810 accounts out of all 300,000 criminal accounts moved 75% of all illicit BTC transactions

According to the study, Binance and Huobi received illicit Bitcoin from 300,000 individual accounts associated with criminal…

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