TechFlow news, November 7 — According to DL News, tens of thousands of conflicting, suspicious, and irrational transactions exceeding $500 million have been uncovered in the bankruptcy filings of the collapsed cryptocurrency exchange Bittrex, potentially affecting fund recovery for nearly 2 million users.
Compliance researcher Pasha Onur identified these suspicious activities as including tens of thousands of economically impractical micro-transactions, over 10,000 duplicate withdrawals of identical amounts on the same day, and hundreds of transactions recorded years after the relevant blockchain networks had shut down.
Bittrex filed for bankruptcy in May 2023. The U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) is its largest creditor, claiming $24 million in unpaid settlement fees stemming from sanctions violations in 2022.
