Since FinCEN took action, Huione Wallet has transferred approximately $1 billion worth of USDT to CEX.

Odaily News Global Ledger’s latest data shows that since the illegal goods trading market Huione was reportedly shut down due to FinCEN enforcement, its Wallet has transferred approximately $1 billion worth of USDT to major centralized exchanges (CEX). Yury Serov, the investigation director of a Swiss blockchain analysis company, pointed out that the activities of Huione-related Wallets indicate that the malware continues to be exposed to major exchanges, although typically through indirect means. Funds may be transferred through nested service providers, OTC Trading platforms, or layered trading, thus concealing the original source. Although these methods can obscure direct exchange interactions, the underlying flow patterns still point to large centralized exchanges, indicating that it continues to operate. (Cointelegraph)