Blockchain Analysis Reveals Inflow Of 14.6 Billion Contaminated USDT Into Southeast Asian Trading Platforms
DeTrust, a subsidiary of blockchain data analysis firm Bitrace, has uncovered startling insights into the flow of contaminated USDT (Tether) within Southeast Asia. The blockchain analysis, conducted on August 28, points to a significant influx of over 115 billion USDT into Southeast Asian platform addresses in 2022. Disturbingly, this includes 37.16 billion USDT associated with online gambling activities and a staggering 69.78 billion USDT linked to money laundering endeavors. Fraudulent USDT accounted for less than 460 million USDT.
A comprehensive examination of known addresses tied to Southeast Asian entities reveals that a substantial sum of more than 14.64 billion contaminated USDT found its way into centralized trading platforms, both directly and indirectly. These contaminated funds encompass various illicit activities. These findings underscore the multifaceted challenges surrounding the cryptocurrency and blockchain landscape. Despite its potential for positive innovation, the sector grapples with issues like fraud, money laundering, and illicit financial activities. The presence of significant contaminated USDT within Southeast Asian blockchain platforms serves as a stark reminder of the ongoing efforts required to maintain integrity and transparency within the digital financial realm.
