Bitrace: A massive freeze is expected for OTC groups and crypto payment companies in the coming months

On February 24th, crypto data analytics company Bitrace issued a warning that after Bybit suffered a $1.50 billion hack, there will be a large-scale freeze for OTC groups and crypto payment companies in the next few months.
Bitrace research shows that in addition to using unlicensed industry infrastructure for fund laundering, the hacker group will also use a large number of centralized platforms for dumping, which directly leads to a large number of intentional or unintentional collection of stolen money exchange user accounts are risk control, OTC merchants and payment institutions business address is frozen by TEDA.
After the hack of the Japanese DMM exchange in 2024, the attacker transferred $600 million of funds to the payment institution HuionePay, causing the $29 million in its hot wallet to be frozen. In 2023, the Poloniex attack lost more than $100 million, and the hacker cleaned the funds over the counter, causing a large number of OTC merchants to be blocked.