By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: Is Ethereum a Money Laundering Scheme from the Russian Oligarchs?
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Horse Racing > China > Is Ethereum a Money Laundering Scheme from the Russian Oligarchs?
2020

Is Ethereum a Money Laundering Scheme from the Russian Oligarchs?

Joe Heffernan
Last updated: January 2, 2023 6:31 am
Joe Heffernan
Share
2 Min Read
SHARE

An unknown person paid $2.5 million in Ethereum transaction fees just to send 0.55 ETH. This wallet still has over $10 Million worth of Ethereum. The majority of the funds are heading towards the fees in a nefarious manner, why did a transaction worth only $600 pay $2.5 million in fees? Is this a coding mistake or a purposely driven scheme to launder money for Russian oligarchs?

This happened in Jun 10th of 2020, however it looks like no one is talking about it. You can see the transaction here: Ethereum Transaction Hash (Txhash) Details | Etherscan

These transactions are a requiring problem in the crypto space. Former professor at Cornell University and founder of AVA Labs Dr. Emin Gün Sirer says “An explanation could be that miners are laundering money by whitewashing “dirty” coins through transaction fees, turning them into clean tokens.” Now it is clear that this is money laundering of some kind however not so clear if this has anything to do with Russian Oligarchs. All we could say in this matter is that it makes the crypto space look bad to big institutions and even to the average joe around the globe.

You Might Also Like

Iran Strikes U.S. Bases in Qatar and Iraq

Understanding the Dow Jones Industrial Average

Saudi Arabia’s Digital Revolution

De-Dollarization Is Inevitable

US Bombs Iran: Escalation and Implications

TAGGED:etherethereumethereum newsmoney launderingRussiaRussianscheme

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article Manufacturing IT Summit Indonesia
Next Article Bitcoin Rally May Continue


Latest News

USA Bombs Iran
America Gold Headline News Middle East Opinion Politics Shayne Heffernan Shayne Heffernan June 21, 2025
Bitcoin Dip Is Your Opportunity
America Bitcoin Crypto Featured Headline News Knightsbridge Opinion Politics Shayne Heffernan Shayne Heffernan Shayne Heffernan on Investments Sovereign Individual Strategy World War 3 June 21, 2025
Eight Killed in Brazil Hot Air Balloon Crash
Headline News Travel June 21, 2025
Iran Rocked by 5.1-Magnitude Earthquake
Headline News June 20, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?