Shark Binh's trick to hide cash flow in his project

Mr. Tran Huyen Dinh, Head of ChainTracer program. Photo: Van Anh/VBA .

Sharing more information about the AntEx cryptocurrency project, Mr. Tran Huyen Dinh, Head of the ChainTracer tracing project, said that the subjects used many tricks to make it difficult to track the money flow, typically continuous circulation, dividing the balance into many different wallets, making it difficult to track and match the money flows.

Although unable to reveal the details of the “path” of the money flow, the representative of ChainTracer stated that using various tools, the investigation team modeled and traced the money flows to the final destination, thereby assisting the security agency in identifying the identities of the people behind the wallets and some related projects. Therefore, it is not excluded that the group of subjects in the AntEx cryptocurrency project used mixers.

A mixer is a tool that makes money untraceable, making it difficult to determine whether it is dirty or clean money. In many hacks or scams, this tool is often used by criminals to mix up the money. Therefore, when money is withdrawn, it becomes very difficult to trace its origin and identify the ultimate owner.

"Currently, most of the major mixers have been refused by the regulators and exchanges to accept money from those sources. This is also a way for us to coordinate with the exchanges to block the flow of non-transparent money," Mr. Dinh added.

However, ChainTracer representatives emphasized that there are methods to detect mixer usage. A common approach is to analyze behavioral patterns, typically tracking wallet groups, transfer habits, and wallet usage characteristics. From there, experts can identify similarities between the subjects who put money in and take money out. These behavioral patterns can help connect transfer points despite the intervention of high-tech devices.

Additionally, some mixers today collect user data, such as IP addresses, or require information before allowing use of the service. This data, if traceable or linked, can be an important clue in an investigation.

When a subject is forced to switch to different tools to cover up, this behavior can reduce the effectiveness of some techniques, while adding more transitions also increases the likelihood of exposure by creating more traces, thereby giving the investigation team more opportunities to connect the dots and follow up.

Before its collapse, AntEx was introduced as a decentralized finance (DeFi) ecosystem, providing comprehensive solutions for developers, founding teams and communities. The project was promoted to possess many outstanding features, focusing on areas such as financial payment gateways, virtual asset management, decentralized exchanges and blockchain platforms.

However, Mr. Nguyen Hoa Binh and the shareholders of NextTech company agreed to withdraw money from the general wallet of the Antex project, transfer it to the e-wallets of some individuals in the project, then sell it and convert it to VND to share.

Source: https://znews.vn/thu-thuat-che-giau-dong-tien-trong-vu-du-an-tien-so-antex-post1594470.html