Thread by @DesoGames

#Tether watch!

Got another juicy thread today tracking down Binance wash trading. Very juicy.

So, i was looking at the #USDT again that keeps flowing into #Binance via #Kraken. I did the crazy thing again, and found it in Binance Hot.

But this time i went even further.

See that red line? I figured, maybe the bot network is stupid enough to transfer all the funds in at once, because there's pages of IN at 6H22M - but the amounts are *ASCENDING* in order! Sorted almost!

So i clicked on *every wallet* in that screenshot. Here's the analysis:

Look closely now.

Are you starting to see a pattern yet?

That last screenshot kind of gives it away with one more to go; so.

It turns out, there's one wallet present on ALL those screenshots: -CDyty.

To the point where it got me so curious - i checked out both the Kraken whale and the -67hk whale.

And guess what?

Now, normally, you'd pay no attention to such a small transaction. It's tiny compared to the direct inflows. Infact that's why i've missed it multiple times while it was staring me in the face before.

Lets look at this wallet and OH MY FUCKING GOD
tronscan.org/#/address/TB3U…

This is it. The source wallet for the Binance bot network that's been pumping money around making it appear like there's actual trading. The washtrading mastermind.

I know this for a few reasons. 1; there's only 44 normal transactions in this wallet. It's pure TRX.

2; the first wallet analysis i posted happened to be a fresh one. There's very few transfers, and especially transactions leave no doubt as to who made it:

tronscan.org/#/address/THtB…

3; the same wallet funded the TRX transfer for the -J1Fk wallet. Unfortunately i can't check -67HK because it only shows 10k out of 31k transactions; but i'm willing to bet it shows a similar pattern. Analytics probably picked it up because of a TRX refill along the road.

And i'd like to remind everybody why this matters:

-67HK and -J1Fk have been THE MAIN SOURCE OF FUNDING FOR THE MAIN HOT WALLET FOR BINANCE ON TRON! A COOL $4.6 BILLION!

And for completionist sake, that -ZSHj wallet, the one receiving $3 BILLION of $1.0002 prints?

Oh yeah, you guessed it:

So there ya go. One wallet connecting ALL major Binance inflow wallets on TRON - the same that's showing clear and obvious botting behavior.

I doubt it's free TRX gas. More likely it's ALL a scam.

I think this is where i take a bow. One more time:
tronscan.org/#/address/TB3U…

#Tether watch Addendum:

Can i tie this account specifically into the collapse of the FTX #USDT washtrading network?

Why - yes i can. Half a million transactions on the same day USDT loses 2 MILLION USERS after FTX collapses? (which nobody's given a fuck about btw).

Quaint.

For comparison purposes - here's #Kraken Hot, #Bitfinex Hot, #Gate Hot, and #Binance Hot on the same day (and neighboring/important other dates).

Can't have been a system wide thing if Kraken, Bitfinex and Gate show absolutely no change (but Binance does!)

Oh and naturally - here's #FTX.

Chances that i'm wrong here are becoming extremely slim...