Based on the information provided, here’s a summary and analysis of the situation regarding the Mynamar alliance army’s alleged ransom addresses:
Summary:
On January 16, 2024, a blogger reported on a Chinese social platform that the Myanmar alliance army is allegedly forcing滞留缅甸的 e-fraud industry workers to pay high amounts of cryptocurrency. The report included a claimed cryptocurrency address used for receiving payments, which has since been widely circulated online. The article was co-authored by Bitrace & MistTrack teams from SlowMist Technology.
Key Findings:
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Address Analysis:
- The address in question, TKFsCN, received numerous USDT transactions with amounts like 71417 and 42857, which are not typical for transactions in USD.
- These transactions, when converted to USD, seem to be settled at a rate of 1 USD : 7-7.2 RMB, with clusters of transactions in the range of 500,000-1,500,000 RMB.
- Over half of the transactions were settled in RMB, indicating that the payers were likely Chinese.
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Risk of Funds:
- The address received transfers from 182 direct counterparties, with 117 showing typical transfer test behavior.
- A deep dive into the address risk revealed that the counterparties were closely associated with black and gray industries, online gambling, fraud, money laundering, and risky payments.
- 42% of the direct转入 addresses were associated with risky activities, including known criminal cases.
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Associated Addresses:
- Clustering analysis showed that the address was linked to nearly a hundred other addresses, some of which also exhibited similar funds collection activities.
- One such address, TKKj8G, received over 460,000 USDT from TKFsCN and was involved in transactions with a financial guarantee company.
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Anomalies:
- Some addresses showed unusual transactions, such as one address, TYU5acSGRwsYJfBhdpQc3broSpfsjs8QFF, which transferred an amount equivalent to 1.36 million RMB, which was different from other addresses and could represent a discount on three transactions of 500,000 RMB each.
Conclusion:
The analysis suggests that there is a significant amount of USDT being transferred to addresses in the region from Chinese e-fraud industry workers in Myanmar and Cambodia. However, these addresses may not be the so-called finance department addresses as claimed in some reports, but rather belong to local digital currency exchange merchants.
Analysis:
– The situation highlights the challenges in tracking and combating cryptocurrency-related criminal activities, especially in regions with less stringent regulatory frameworks.
– It underscores the importance of blockchain analysis tools in identifying and understanding the flow of funds in such cases.
– The findings suggest that while there is a strong correlation between the reported activities and the blockchain data, further investigation is needed to fully understand the nature and extent of the alleged ransom activities.
Note:
– The report does not provide definitive proof of the allegations against the Myanmar alliance army.
– The analysis is based on publicly available blockchain data and assumes the accuracy of the data and the methodologies used.
– The report serves as an example of how blockchain data can be used to investigate and understand complex financial transactions and potential criminal activities.
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