Blockchain researchers traced $2.eight billion in illicit Bitcoin BTC believed to be laundered on cryptocurrency exchanges in 2019 — with over 50 p.c ($1.4B) washed by means of main buying and selling hubs Binance and Huobi.

“Binance and Huobi lead all exchanges in illicit Bitcoin obtained by a big margin,” mentioned cryptocurrency analysis unit Chainalysis. “That will come as a shock provided that Binance and Huobi are two of the most important exchanges working, and are topic to KYC rules.”

[Read: Greece suspends extradition of alleged launderer for Bitcoin ‘stolen’ from Mt Gox]

Chainalysis discovered greater than 300,00zero particular person accounts on these exchanges had touched Bitcoin despatched from “felony sources” final 12 months, and manually recognized a listing of the highest 100 “rogue” over-the-counter (OTC) cryptocurrency brokers they consider to be cash launderers.

“[…] A small section of those accounts is extraordinarily energetic. The two,196 accounts within the three highest-receiving buckets obtained a complete of almost $27.eight billion value of Bitcoin in 2019,” mentioned the agency.