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    How Binance became a hub for hackers, fraudsters and drug sellers

    In as little as nine minutes, using only encrypted email addresses as identification, the Lazarus hackers created Binance accounts and traded crypto stolen from Eterbase, the Slovakian exchange, according to account records that Binance shared with the police and that are reported here for the first time. As early as March 2018, Hydra users recommended […] More

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    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 […] More

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    Crypto and Money Laundering: An Inconvenient Truth

    Crypto is an awful vehicle for laundering money for a few reasons. One, KYC is stringent in the industry and it’s simply much easier to open a bank account with fake identification documents at a small local or regional bank. Two, you simply cannot move large sums of money into crypto without people noticing, and […] More