The Story of Binance Becoming a Hub for Hackers, Fraudsters and Drug Sellers

  • For five years, the world’s largest cryptocurrency exchange Binance served as a conduit for the laundering of at least $2.35 billion in illicit funds, a Reuters investigation has found.
  • “Binance had no idea who was moving money through their exchange” because of the anonymous nature of the accounts, said Eterbase co-founder Robert Auxt.
  • As Reuters reported in January, Binance kept weak money-laundering checks on its users until mid-2021, despite concerns raised by senior company figures starting at least three years earlier.
[Via]

Sign Up for NextBigWhat Newsletter

Daily.