Blockchain data analysis company Bitrace said on the X platform on Friday (15th) that after conducting an on-chain fund audit of 5 Tron hot wallet recharge addresses of JPEX, it was found that the exchange-related addresses have suffered from fund pollution in the past 20 months. Serious, the types of risks involved include online gambling, illegal industry and money laundering.
Recently, the Hong Kong Securities and Futures Commission warned that#JPEXis an unregulated virtual trading platform and clarified that none of the entities under the JPEX Group have applied for a license to operate in Hong Kong from the Securities and Futures Commission. The on-chain fund audit of#Bitraceshowed that the relevant addresses of#JPEXwere seriously contaminated by funds, and one of its hot wallet recharge addresses had inflows of more than 190 million risky USDT in the past 20 months.#Bitracewill disclose some data through this thread
— Bitrace (@Bitrace_team) September 15, 2023
Bitrace disclosed one of the JPEX deposit addresses (starting with TLGiN6) as an example, saying that this address interacted with 30,585 user addresses 189,133 times from December 31, 2021 to September 14, 2023, and the inflow value was approximately 6.87 Approximately US$151 million of the US$100 million USDT belongs to risk funds, accounting for 22.04%.
Source: Bitrace
Bitrace also pointed out that the two addresses with the most transfers to TLGiN6 are both high-risk addresses. One address involved in money laundering transferred more than $1 million worth of USDT through 969 transactions; one involved in black industry, online gambling and money laundering The address transferred approximately 387,000 USDT through 897 transactions. The funds transferred from the two addresses accounted for 0.22% of the total inflows.
According to Bitrace’s analysis, risk funds flowing into TLGiN6 mainly occurred in 2023, and it speculated that this may be related to the increase in JPEX business volume. Taking one of the user addresses as an example, its source of funds involves funds, an online gambling platform and stolen money from a coin theft case. Bitrace speculates that the address may be an "online gambling platform agent withdrawal address, and is also used by other black and gray industries for encryption." Fund laundering”.
Source: Bitrace
According to the "Hong Kong 01" report, the Hong Kong police have received notification from relevant agencies and the Commercial Crime Investigation Bureau is following up and investigating whether the JPEX case involves criminal elements.
Related reports:
"JPEX limits the withdrawal of USDT but continues to flow out!" Hong Kong media: All companies are registered, but the actual person in charge is unknown.
"The Hong Kong Securities and Futures Commission named JPEX exchange for operating without a license and raised six major doubts to urge the public not to believe it"
This article Bitrace analysis: JPEX wallet address has seen multiple inflows of risky funds in the past 20 months, involving online gambling and money laundering. First appeared on Zombit.
