Crypto Exchanges Exposed to $1B in Huione-linked USDT outflows

Major centralized exchanges (CEXs) have been exposed to nearly $1 billion in USDt transfers linked to wallets associated with Huione since its illicit marketplace was supposedly shut down, according to new data from Global Ledger.

On May 1, the US Financial Crimes Enforcement Network (FinCEN) designated Huione as a primary money laundering concern under the PATRIOT Act. Since then, forensics experts have been divided on the extent of the platform’s shutdown.

Global Ledger said it observed $10.13 billion in Tether USDt (USDT) transactions on Tron and…