On March 24, on-chain analyst ZachXBT reported that Russian OTC broker Aleksandr Khinkis (Aleks) is suspected of assisting a ransomware group in laundering funds since July 2025, having transferred over $4.7 million through a single cryptocurrency exchange account—comprising three ransom payments totaling 796 BTC. Investigators posed as potential clients on Telegram and obtained his exchange deposit address (0xa756…0706e). On-chain forensic analysis shows these funds were bridged from Bitcoin to the Avalanche network, with 75 transactions flowing into this address.
In October 2025, a ransom payment of 164 BTC—valued at approximately $3.8 million—was instantly exchanged and routed to the Tron network, and seven related Tron addresses were blacklisted by Tether in November 2025. The case highlights cross-chain fund movements and ongoing efforts by exchanges and observers to trace illicit flows, including tightened controls and blacklist activity in the crypto ecosystem.
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