We know that in the world of cryptomonies there are endless risks associated with anonymity and identity protection. However, the most recent information we have is that crypto currency exchanges accepted 147,000 BTCs ($1.3 billion) from high-risk addresses during 2020.
This figure was revealed in a recently published report by the research and analysis firm Peckshield. Here’s a little more on that.
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How do you classify the risk of a BTC address?
Recently, Blockchains‘ research and surveillance companies have been classifying „risk levels“ for specific transactions derived from suspicious addresses and portfolios.
For example, certain Bitcoin addresses could be on a country’s sanction list. They could even be used on a black market, or used in any type of criminal activity.
Thus, the Chinese cryptanalysis company, Peckshield, has reported this type of activity in the first half of 2020. According to its report, worldwide exchanges allowed deposits of up to 147,000 BTC ($1.3 billion) from high-risk addresses during this time.
They also noted that the top ten exchanges that accepted funds from suspect addresses included Huobi, Binance, Okex, Zb exchange, Gate.io, Bitmex, Luno, Huobtc, Bithumb, and Coinbase. What is even more surprising is that the three main trading platforms accounted for over 60% of the total aggregate.
In terms of withdrawals to suspicious addresses, Binance, Huobi, Kraken, and Luno were the leaders in the first part of 2020. Peckshield’s list of high-risk addresses included extremely active gambling addresses, use of Darknet, scams and exchange robberies.
With all this, the crypto community wonders if this is really the darker side of cryptology and if there isn’t something that can be done about it. Can one dismiss the negative, contemplating the opportunities it provides? The answers are very varied.
The „high-risk“ BTC addresses have been active in 2020, especially with their deposits in different exchanges. According to Peckshield, they have moved around 147,000 BTCs so far this year.
The „high-risk“ BTC addresses have been active in 2020, especially with their deposits on different exchanges. According to Peckshield, so far this year they have moved around 147,000 BTCs.
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What is the real contribution of reports like the one Peckshield made to the cryptomania?
With this report, Peckshield is contributing by reinforcing Bituniverse’s Exchange Transparent Balance Rank (ETBR) with its data. The Bituniverse ETBR data comes from the Exchange Blockchain balances recorded by Etherscan and Peckshield.
In the report on the 147,000 BTCs accepted by exchanges in 2020 and coming from suspicious addresses, Peckshield also talks about unregistered crypto currency exchange services.
At the end of the study, some conclusions are important to take into account. First, the company noted that the movement of suspected illegal addresses represented a total of 13,927 transactions.
However, you should know that not everything you see is what you get, because although these companies try to have accurate data, this is not always the case. That’s why it’s advisable to always contrast the information that comes out in reports like this.
Such data comparison is possible, since Peckshield is not the only company interested in the surveillance of Blockchains in the industry. At this moment there are at least 20 companies doing similar work.
Security in the world of cryptosystems is crucial, but not perfect. Therefore, you should always check for any suspicious activity and investigate the accounts to which you will send any amount of BTC’s as far as possible.