👔 WSJ research shows $88.6 million of crypto laundered through exchanges
The Wall Street Journal recently found that $88.6 million related to criminal activity was laundered through crypto exchanges over a two year period. The report showed that funds from illicit activities like ransomware and fraudulent fundraising were sent through 46 different crypto exchanges. The Journal focused on U.S. based ShapeShift which it claims was responsible for laundering $9 million over the two year period. Data was gathered using a program that downloaded and stored a list of the 50 most recent transactions from ShapeShift's website every 15 seconds. ShapeShift CEO Erik Vorhees later pushed back on the report, noting that this represented less than 0.2% of the exchange's volume over the period.
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