ETH Sales Surge: 14,064 ETH Sold for $27.5 Million DAI Amid Money Laundering Concerns

On March 28th, COINOTAG News reported significant activity in the Ethereum market as new data from Spot On Chain revealed that two wallets liquidated a total of 14,064 ETH for 27.5 million DAI. The transactions, which were executed at an average rate of $1,959 per ETH, have sparked discussions regarding potential money laundering due to the nature of the transfers. The involved Ethereum were moved utilizing the THORChain and Chainflip cross-chain bridges, which are designed for seamless asset transfers across different blockchain networks. While cross-chain transactions facilitate liquidity, they also raise compliance concerns among regulators. The growing attention towards such transactions emphasizes the need for robust monitoring systems in the decentralized finance space to mitigate illicit activities while bolstering market integrity.