A Total Of $188 Billion In 'Risky Funds' Linked To Crypto Exchanges
Global Ledger says that it has identified $187.75 billion U.S. in risky money across 99 crypto exchanges, with 10 platforms accounting for 90% of the flagged capital.
The blockchain analytics company says that it examined $36.28 trillion U.S. in deposits on crypto exchanges between 2021 and 2025.
It also looked at withdrawals involving Bitcoin (CRYPTO: $BTC), Ethereum (CRYPTO: $ETH), and other digital assets, for its new "High-Risk Benchmark" report.
Its analysis identified high risk sources of money that involved as many as five blockchain transfers and appears to have been used to launder funds.
The report recorded $90.55 billion U.S. entering crypto exchanges from flagged sources and $97.21 billion U.S. leaving for flagged destinations.
One unnamed crypto exchange accounted for $70.84 billion U.S. of the suspicious activity, including 41% of all risky inflows.
Global Ledger identifies sanctions violations, hacks, and fraud as the most likely sources of the risky funds siphoned through crypto exchanges.
It is not clear what Global Ledger plans to do with its report or who it plans to share it with. The company is privately held and its stock does not trade on a public exchange.
Bitcoin is trading at $81,700 U.S. on Oct. 16.
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