Research: Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019

Binance and Huobi have together received over 52% of total $2.8 billion illicit Bitcoin transfers in 2019, according to a new report.

Over the course of 2019, criminal entities moved a total of $2.8 billion in Bitcoin to cryptocurrency exchanges, according to a Jan. 15 study from Chainalysis.

According to the New York-based firm, Binance and Huobi, two of the world's largest crypto exchanges to date, have received 27.6% and 24.7% of total transfers from criminals in 2019.

The two major crypto trading platforms are allegedly responsible for acquiring over a half of all illicit Bitcoin in 2019, while all other exchanges combinedly received 47.8%.Cryptocurrency exchanges receiving illicit Bitcoin in 2019.

Only 810 accounts out of all 300,000 criminal accounts moved 75% of all illicit BTC transactions.

According to the study, Binance and Huobi received illicit Bitcoin from 300,000 individual accounts associated with criminal activity in 2019.

On top of that, less than 1% of those accounts were responsible for receiving the bulk of illicit Bitcoin.

According to Chainalysis, just 810 accounts received 75% of illicit Bitcoin on Binance and Huobi in 2019.OTC brokers are likely to be the main source of illicit Bitcoin transfers.

According to Chainalysis, the Rogue 100 received gradually increasing amounts of crypto each month since late 2017, but their activity skyrocketed in 2019.

Cointelegraph contacted Huobi exchange to comment on the news but had yet to receive a response as of press time.