American cyber security firm Cipher Trace said that since the year 2009, the cryptokorty exchanges have Laundering $ 2.5 billion (about 180 billion rupees) of bidcoine. The location of these cryptokici exchanges is outside India, which is promoting money laundering from India because there is no clear anti-money laundering law in place to influence them. 180 billion rupees involves the same transactions which had a direct look at the cipher trace and which they considered criminal or extremely suspicious.
Cipher Trace examined about 35 million transactions through top 20 cryptokerny exchanges and matched 10 million transactions with other parties. These exchanges were used for the consumption of 2 lakh 36 thousand 979 Bitcoins for criminal services. Cipher Trace also found out the money laundering besides the theft of hacking and cryptoconcases. In the first nine months of the year 2018, the virtual currency worth 92 crores 70 million rupees (about 68 billion rupees) was stolen through hacking exchanges, which was 250 percent more than the previous year.