{"id":25082,"date":"2023-03-30T15:47:20","date_gmt":"2023-03-30T22:47:20","guid":{"rendered":"https:\/\/coinnetworknews.com\/most-crypto-sent-from-wallets-sponsoring-russia-in-ukraine-war-reaches-cexs-binance-research-shows-exchanges-bitcoin-news\/"},"modified":"2023-03-30T15:47:20","modified_gmt":"2023-03-30T22:47:20","slug":"most-crypto-sent-from-wallets-sponsoring-russia-in-ukraine-war-reaches-cexs-binance-research-shows-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/most-crypto-sent-from-wallets-sponsoring-russia-in-ukraine-war-reaches-cexs-binance-research-shows-exchanges-bitcoin-news\/","title":{"rendered":"Most Crypto Sent From Wallets Sponsoring Russia in Ukraine War Reaches CEXs, Binance, Research Shows \u2013 Exchanges Bitcoin News"},"content":{"rendered":"
Millions of U.S. dollars\u2019 worth of cryptocurrency has been sent to centralized exchanges (CEXs), most notably Binance, from wallets providing funds in support of Russia\u2019s war effort in Ukraine, transaction data suggests. According to Ukrainian analysts, the money was transferred to the crypto trading platforms in order to be laundered. <\/strong><\/p>\n More than $40 million was sent last year from wallets that were used to sponsor the Russian invasion of Ukraine to cryptocurrency exchanges, according to an analysis of such transactions conducted by Hapi Labs. The main purpose of these transfers was to launder the money, the Ukrainian startup claims in a post<\/a> on Twitter published Tuesday.<\/p>\n While various amounts went to a number of crypto platforms, nearly 96% of the digital cash reached Binance, the world\u2019s largest cryptocurrency exchange. Researchers at the company, which provides blockchain tracking tools and data analysis software, believe this is an indication of failures in the anti-money laundering (AML) procedures.<\/p>\nOver 90% of Pro-Russian Crypto Transfers Identified in a Study Sent to Largest Exchange<\/h2>\n