Cryptocurrency Q&A
Why did a crypto exchange send a $13 million token to international wallets?
Why did a crypto exchange send a $13 million token to international wallets?
IncheonBeautyBloom
Mon Jul 15 2024
|
6 answers
1267
In the realm of cryptocurrency and finance, the recent transfer of a staggering $13 million worth of tokens from a crypto exchange to international wallets has raised numerous questions. Could this be a routine transaction? A strategic move by the exchange? Or perhaps a security breach? Given the significant value involved, it begs the question: why was this amount transferred, and to whom? Did the exchange undergo the necessary due diligence to ensure the funds were being sent to legitimate parties? Was there any transparency in the transaction, or has it left investors and analysts scrambling for answers? Understanding the motives and details behind this move is crucial for both the crypto community and the wider financial world.
6 answers
Caterina
Wed Jul 17 2024
The accused firms, as per the ongoing investigation, allegedly purchased cryptocurrency worth over Rs 100 crore, approximately equivalent to $13 million.
Was this helpful?
234
30
Martina
Wed Jul 17 2024
The purchases were made through various cryptocurrency exchanges, without the exchanges conducting enhanced due diligence.
Was this helpful?
380
50
Martino
Wed Jul 17 2024
The probe further reveals that following these purchases, the acquired tokens were immediately transferred to international wallets.
Was this helpful?
231
84
LightWaveMystic
Tue Jul 16 2024
The transfers were made without raising any suspicious transaction reports (STR), which are typically required for such large and sudden movements of funds.
Was this helpful?
198
45
CryptoNinja
Tue Jul 16 2024
This lack of due diligence and failure to report suspicious transactions is being investigated as a potential violation of anti-money laundering regulations.
Was this helpful?
97
86
Load 5 more related questions
