BKEX, a cryptocurrency exchange, has suspended withdrawals of User funds where claims are considered using the platform for money laundering.
BKEX Partners with authorities to investigate the situation
British Virgin Islands-based cryptocurrency exchange BKEX has been exposed on May 29 system It could have been exploited for money laundering. The exchange suspended withdrawals and promised law enforcement assistance with Investigation.
The stock exchange stated that it is currently cooperation with Law enforcement for acquire information And ensure the protection of their customers.
BKEX stated that it would maintain open and timely communication throughout the investigation and urged people to contact him if they have any problems. The cryptocurrency exchange said it is trying to restore the exchanges regular practical.
Cryptocurrency money launderingUnited Nations estimates vs Chainalysis data
Bitcoin transactions are transparent and irrevocable in Most cases are by definition because it is public Arbitrage. that it possible to view Risks of financial crime And money laundering in The encryption is manageable, especially when compared to cash.
Chainalysis states that from 2017 to 2021, about $33 billion in Cryptocurrency has been laundered, much less than the UN estimates for Paper currency, which may be in Trillions of dollar.
In addition, the best way to stop money laundering And other associated offenses may have to implement more stringent money control laundering (AML) within the cipher regulations communityAnd ensure Greater industry transparency.
