WSJ investigates ShapeShift's role in cryptocurrency money laundering
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The Wall Street Journal tracked funds from over 2,500 suspected crimes that used bitcoin and ether, identifying ~$90M laundered through 46 cryptocurrency exchanges. The top five exchanges, by laundered funds received, includes Binance, Bitfinex, ShapeShift, BTC-e, and Bittrex. Of these 46 exchanges, ShapeShift processed ~$9 million of the laundered funds, which is more than any other U.S.-based exchange. ShapeShift recently announced that the company was implementing know-your-customer rules on its exchange. (Source: WSJ)
AUTHOR
Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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