On-chain researcher ZachXBT recently identified imToken and the decentralized exchange Tokenlon as centers for illicit money laundering. According to ZachXBT, the vast majority of Tokenlon’s trading volume originates from illegal activities including fraud, human trafficking, and investment schemes, with virtually no legitimate trading activity outside Southeast Asia.
Following ZachXBT’s announcement of planned action against Tokenlon, the platform’s native token LON declined approximately 8%.
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