Go to articles page

March 13, 2022 22:04

618

Finiko is a cryptocurrency scam of the 21st century

You may also like:

Finiko is one of the largest cryptocurrency scam of the 21st century is now totally investigated. The Finiko financial pyramid in the period from 2018 to 2021 attracted and fraudulently stole funds from several tens of thousands of people, mainly from Russia. Finiko's fundraising was carried out using cryptocurrencies Bitcoin (BTC), Ethereum (ETH) and a specially created FNK token on the ERC20 protocol.

According to our estimates, the Finiko pyramid has raised funds in various cryptocurrencies in the amount of more than $4.6 billion, including:

BTC - 14 234.14 BTC, equivalent to $552 757 205.45;
ETH - 6 614 ETH, equivalent to $18 284 151.45;
FNK - 100 000 000 FNK, equivalent to $41 893 600;
USDT - 3 692 000 000 USDT, equivalent to $3 692 000 000;
USDC - 257 000 000 USDC, equivalent to $257 000 000;
SHIBA - 107 714 318 570.96 SHIBA, equivalent to $2 273 849;
USDK - 37 563 197 USDK, equivalent to $37 563 197.

Estimates of all amounts of funds in monetary terms are given from calculations of the current cryptocurrency exchange rate as of January 27, 2022.

Now let us take a closer look at how these figures are obtained:

Several Internet research teams, in parallel with law enforcement agencies, conducted independent studies of the circumstances of the theft of funds. Thanks to the transparency of blockchain technologies, experts were able to establish a withdrawal scheme, scammers' cryptocurrency wallets and ways of funds withdrawal.

The most significant publications in relation to Finiko:

А) Finikoscam – Medium, from December 29, 2020, the first one and dated September 29, 2021 - the second in Russian Сколько денег собрала Финико? 2 миллиарда долларов. С доказательствами (finikoscam. github.io), where researchers have established the main cryptocurrency wallets used to collect funds by fraudsters, their transit and withdrawal, and the main organizers of the pyramid.

Received from "partners": in the BTC network - 59 645 BTC ($2 194 351), as well as in the ETH network - more than $539 million.
Suffered: At least 90 000 people - 797 924 addresses.
Total losses: More than $1 billion.

The main known crypto wallets of Finiko, according to the first investigation:

Bitcoin (BTC):

328zFd28B4WpdGwuDSnYw7BAEtZQc41Lrk - the address of the collection and cold storage of funds of the Finiko pyramid, the address at the time of the investigation stored 1 150 BTC (current balance $0), the Vexel pool was replenished from the specified address.

37ruqAR5wsGFNZ5TcV9B8KjufapKYP7EZZ - Finiko pyramid fundraising address, the address at the time of the investigation stored 500 BTC, total turnover 4 464.43 BTC (current balance $0).

bc1qeljtu0cvypkkwtvjmnpda6pt4t5klu6lky68se - fundraising address, total turnover was 4 963.5 BTC (current balance $0.56).

1KDqdout1md6fJBDo3LqRdAuiqjw8Twxn5 - 1 000 BTC was deposited to the specified address, which, presumably, were sent for payments to depositors (current balance $0).

15u3wsNfetYp2NRi5riL7QSXJ9icw7RyoE - the Finiko distribution address was of the 1st order, 160 BTC has passed through it (current balance $0).

137f2C8ytCvyPSGp5P3SfyB4Ndc2YNoPiH - the Finiko distribution address was of the 1st order, 163.27 BTC has passed through it (current balance $0).

Ethereum (ETH):

0x574226d249225d063a6850b501525e828feebd3b - $97.5 million passed through him, at the time of the investigation he kept $343 thousand (current balance $503).

0xc247722ac42b2f9ba752886502c3d3dd39bdb2da - the address of the accumulation of funds, where $14.87 million was stored at the time of the investigation (current balance $132k).

0x384f59088d506dddd3f8a7b25dd7094fe3a34401 - intermediate wallet for transit of funds to the USDT network (current balance $7.89).

0x97a8fcc9c05b05a69264175abb99aa5d6793d527 - intermediate wallet for fundraising (current balance – $2.4).

0xa89df75e20b7888ebb922f10c724fdb73c464c4f - the address of the creator of the FNK token contract (current balance is $0).

0x03c8bd564f44d149bc38d06d2bec32b71c805066 - sender of funds to Vexel partners, turnover about $2 000 000, (current balance of the address $10.07).

Finiko Token (FNK):

0x072ebb2b2b53a5f4274b59a479a37507fbb5d916 - FNK holder, 50 000 000 FNK was credited to it (current balance $0).

0xcba57ef73322e70007b8bbe9e52a0a2d42b21c01 - FNK holder, 32 200 001 FNK was credited to it (current balance $0).

0x76c9985d294d9aeadd33f451bfb59bc69b20c474 - FNK holder, 63 102 745 FNK were credited to it (current balance 24 553 FNK).

0x7cb04d664937b8b5253dbf2ef8b907340780f655 - the current FNK holder, currently 49 410 965 FNK are on it.

B) Report of Community /b/ - Официальный FINIKO/OmFinom-тред №84 30-й день как мы (2ch.life)

The main cryptocurrency addresses of Finiko according to the investigation a2ch.ru on the ETH network:

0xcba57ef73322e70007b8bbe9e52a0a2d42b21c01 the first operational address, all Finiko's money passed through it. Most of them went to Huobi and Binance, they also came back from them, at the time of the study, $20 million was available (the current balance of the address $0).

0xd30b438df65f4f788563b2b3611bd6059bff4ad9 at the time of the study, $40 million was on it, (the current balance 393.96 ETH).

0xc247722ac42b2f9ba752886502c3d3dd39bdb2da at the time of the study, $20 million was on it, (the current balance 53.8 ETH).

0xf6f389715b33380db272cdd1f869aa7393202048 at the time of the study, there were $223 thousand on it, (the current balance $2).

0x6eda37e024704e182862187188c677f80b808c83 at the time of the study, there were $639 thousand on it, the current balance was $0.

0x42b15f9149e7a54752e0021c1248694ee1b6046d Finiko's address on the Binance exchange, (current balance $0.39).

0x76c9985d294d9aeadd33f451bfb59bc69b20c474 the second main operating address of Finiko (current balance of address $0), July 12, 2021, all funds have been sent to the address 0x99873fdb41d1f56f135233f15625a73075a940d4 (current balance of the address $0).

C) The team ENCRYPTED and @Ghost_In_The_Block published 29.07.2021 «Пирамида Finiko: расследование и отчет - INCRYPTED» the main conclusions of the investigation were:

Received from "partners": 10 153 BTC, at least $340 million passed through the wallets of the interested persons.
Affected: at least 90 000 people.
Total losses: more than $1 billion.

The main addresses in the ETH network:

0x574226d249225d063a6850b501525e828feebd3b - Finiko's main fundraising address in ETH, received a lot of funds from addresses belonging to miners, received at the time of the study - 3 967 ETH (current balance of $503).

0xa89df75e20b7888ebb922f10c724fdb73c464c4f - the address of the creator of the FNK smart contract, it was replenished with 8 million USDT from the Binance exchange and 5 million USDT from the Huobi exchange (current balance of the address $0).

0xd9e6a3c4348ad6a58660226ce73d2e1fdb397b32 - Finiko's cashout address, total sent to Binance — 33 million USDT and 78 million USDT to Huobi (current balance $111.7).

0x5fed6f1fb821988ed98fcaf2a2b5a80f9fb5b89b - the withdrawal address, 29 million USDT went to the traditional cashing address on the Huobi exchange and 4 million USDT was sent to various Binance-owned addresses.

0x9a045e4c5384ae6bf3f64b861a009d81201386d6 - the withdrawal address, from which 7 million USDT was sent to the address: 0x5065001d59b80608699c5b905eb5af8543ff3584 (The current balance is $68.15). Current balance is 109.2 ETH ($269 222).

0x97a8fcc9c05b05a69264175abb99aa5d6793d527 - transit address for withdrawal of funds, turnover 319 million USDT (current balance $2.4).

0xd882dff4aa136045b77ee14fbca94b3b5b0080cb - the address from which the shipments were made, both to the smart contract and to the main address of the project, was also used for withdrawal from the Bithumb partner project exchange — a total of 2.2 million USDT was withdrawn from the exchange.

0x5ea6909b632267e480ec8e477177f0feb91c59ad - Finiko's permanent address on the exchange Whitebit. (current balance $0).

We evaluated the current balances of the main wallets and tracked the further movement of these funds:

ETH - the main operating wallet
Description: 0x574226d249225d063a6850b501525e828feebd3b
Amount of funds stored: $343 000
Amount of funds now: $503

ETH
Description: 0xc247722ac42b2f9ba752886502c3d3dd39bdb2da
Amount of funds stored: $14 870 000
Amount of funds now: $132 807

ETH
Description: 0x01d73996a220e06369fc425943c1fe3cb5844eb4
Amount of funds stored: $221 038.57
Amount of funds now: $0

ETH
Description: 0x033931006fb280927daf8a6c54d1e9f4e19b54f8
Amount of funds stored: $124 993.23
Amount of funds now: $0

BTC – the main Finiko`s wallet
Description: 328zFd28B4WpdGwuDSnYw7BAEtZQc41Lrk
Amount of funds stored: 750 BTC
Amount of funds now: 0

BTC wallet of «10 star» Shakirova
Description: 17mKKSzLLaxrd9DuTuo3BPwpmhfABHdPac
Amount of funds stored: 500 BTC
Amount of funds now: 0

BTC wallet of «10 star» Loskutov
Description: 1DTvGajfroi7hhA4P1WHRyYfExmfs4W76W
Amount of funds stored: 79.7 BTC
Amount of funds now: 0

BTC wallet of «10 star» Serikova
Description: 1BT7QS2NnRi7HzJNqFWaQZwbQdxUNcKqRU
Amount of funds stored: 143.5 BTC
Amount of funds now: 0

BTC wallet of «10 star» Kanigin
Description: 16YF2nUkDXZawjfvXQVrYBfzWVYsKAcxa8
Amount of funds stored: 1.69 BTC
Amount of funds now: 0

BTC wallet of «10 star» Safina
Description: 1J72oqEBBN3bw27VJHweTStNNNUhLDu4Hg
Amount of funds stored: 76.8 BTC
Amount of funds now: 0

BTC wallet of «10 star» Flura Ahmatovna
Description: 12HXRogceuresFGcaVKkFvRNziqeo1LmnK
Amount of funds stored: 55.9 BTC
Amount of funds now: 0

BTC wallet of «10 star» Gabdullina
Description: 1M64NQGp4dCWTLcfNrWYt1XjHCMuADcnkd
Amount of funds stored: 1.64 BTC
Amount of funds now: 0

An analysis of the transactions indicated in the investigation materials showed that the funds were withdrawn through several address chains and subsequently redistributed to other storage addresses or withdrawn through the Binance, Huobi and UniSwap exchanges.

We have summarized the accumulated material on Finiko collected by various researchers on the Internet over the past 1.5 years, attempts have been made to delve into the mechanism of creating the FNK currency, highlighted the collection and withdrawal of funds in this currency, and also managed to find out which wallets currently hold the main stolen assets.

It should be noted that, taking into account the significant drop in the cryptocurrency exchange rate against the dollar in January 2022, the amount of money remaining in wallets and indicated in the investigations proportionally decreased.

Finiko Token (FNK)

The study was conducted taking into account the results of other teams and the appeals of "deceived" Finiko participants.

A comparative analysis of the above investigations allows us to conclude that the exact number of users of the FNK token has not been previously established, the ways of withdrawing these funds in this currency have not been identified, and the main senders and final recipients of funds in FNK have not been identified.

The study analyzed the smart contract of the FNK token project's own currency - FNK - 0xb5fe099475d3030dde498c3bb6f3854f762a48ad, created on December 09, 2020, in the ETH network by the address 0xa89df75e20b7888ebb922f10c724fdb73c464c4f.

A liquidity pool has been created in parallel (https://www.lee4biz.ru/2020/12/fnk.html) FNK smart contract of 1 million USDT and 1 million FNK. Thus, the company placed its coin on one of the most popular DeFi exchanges with a starting liquidity of $2 million, an estimate of 1 FNK in 1 USDT, a circulating amount of FNK of only 1 million tokens and a capitalization of the total number of circulating tokens of 1 million USDT.

Taking into account the difference in the value of coins (USDT about $1 and virtually zero value of FNK), as well as according to the analysis from the article В Татарстане пирамида привлекла 80 млн рублей под видом инвестиций в криптовалюту | ForkLog, information is confirmed that the founders of the Finiko company through the creation and "pump" of coins (the liquidity of the pool increased from 2 to 8 million USDT in 2 days.) FNK made a withdrawal of funds from the Uniswap exchange and deliberately overestimated the value of the coin in the FNK/USDT pair.

As a result of the analysis of the FNK token itself (contract) 0xb5fe099475d3030dde498c3bb6f3854f762a48ad it was found that its holders on January 27, 2022, are 83 417 participants, with a total of 436 946 transactions carried out in this currency. The current rate of Finiko is $0.4.

The largest FNK holders include:

Address 1
0x7cb04d664937b8b5253dbf2ef8b907340780f655
Amount: $21 263 366.60 Percentage of total volume: 49%

Address 2
Uniswap V2: FNK-USDT
Amount: $15 205 825.06
Percentage of total volume: 35%

Address 3
0x03c8bd564f44d149bc38d06d2bec32b71c805066
Amount: $1 340 302.15
Percentage of total volume: 3%

Address 4
0xdfff1c4051b84f08fd10b7a2c60f70f392b46760
Amount: $1 335 592.59
Percentage of total volume: 3%

Address 5
0x804c11c77ae6fda66f361b4d82c3424b10f3e179
Amount: $370 225.38
Percentage of total volume: 1%

Address 6
0x26e5a70242fcd1aebc4b007383102c17a33b0cfb
Amount: $151 952.67
Percentage of total volume: 0%

FNK token (contract 0xb5fe099475d3030dde498c3bb6f3854f762a48ad) exists in several networks: ETH, Polygon, Hecoinfo.

The study of operations with FNK allowed us to establish channels for withdrawing the funds raised. The main volumes were withdrawn through specially created smart contracts for the exchange of FNK in USDT:

Uniswap V2 contract: FNK-USDT 0x61b62c5d56ccd158a38367ef2f539668a06356ab (total operations 109,931, created December 07, 2020);
Uniswap V3 contract: FNK-USDT 2 0x94b4ba66da4faa4fe09e17c0a8810d2afee70163 (total operations 26701, created June 18, 2021);
Uniswap V2 contract: FNK 4 0xb52c5f5b96a428ff13cc5e60247b73cb4e13b2d9 (total operations 14,354, created on December 10, 2020).

Analysis of the main address of the creator of the FNK token 0xa89df75e20b7888ebb922f10c724fdb73c464c4f and tracking operations on it allowed us to build the following chain of reasoning:

During the analysis of the transaction graph, it can be seen that the replenishment of the address 0xa89df75e20b7888ebb922f10c724fdb73c464c4f in the amount of 1 ETH occurred from the address 0x574226d249225d063a6850b501525e828feebd3b.

In turn, funds from the address 0xa89df75e20b7888ebb922f10c724fdb73c464c4f were sent to the address 0x430bce3de5300ba59720ae8ba881362b441479e1, from where they were forwarded to 3 more addresses:

Further, if you look in more detail at the incoming and outgoing transactions of the address 0x07bd4cdeca2542250e164b3592e8d9b6ec70bbd6 on the same graph, you can see another large entry in the amount of 200 ETH from the address 0x574226d249225d063a6850b501525e828feebd3b this is the Huobi exchange (https://etherscan.io/address/0xf66852bc122fd40bfecc63cd48217e88bda12109) (and there are 4 of them in total).

The main recipient of money from the main address (let's call it the address of the 2nd order) 0x07bd4cdeca2542250e164b3592e8d9b6ec70bbd6, based on the analysis of the graph, transferred the received coins to the following addresses:

At the same time, when analyzing the graph, it is clearly visible that the second-order addresses are interconnected by horizontal links (the so-called "herringbone").

By tracing the outputs of these two addresses, you can see that the bulk of the funds were sent to these two addresses:

Second address owned 0x28c6c06298d514db089934071355e5743bf21d60 exchange Binance (data obtained from the analysis of the transaction to an address in etherscan.io)

But the first address 0xb394691417a6a25e1049985c725ab16ac06e78f6 is of great interest because it is currently stored 106 ETH, which is equal to $261 471.

Thus, expanding on the graph of the path of movement of funds raised pyramid Finiko managed to establish new addresses, not previously encountered in investigations, as well as set the address of the network ETH 0xb394691417a6a25e1049985c725ab16ac06e78f6 where he currently still stored the collected funds.

According to the results of the analysis of the general scheme of the movement of assets attracted by Finiko, it was revealed that the concentration of the group's funds for October-December 2021 is carried out at the address in the BTC network 1C1sUtw6fYa1Yr5wexrH2ayT1ZykD9Sobx. The current balance of the address is 6 298 BTC (at the rate of January 25, 2022, this is $231 058.42).

In addition, we investigated the main addresses used by the Finiko group on the ETH network for other tokens (mainly USDT, USDC and SHIBA), determined where they still had funds in cryptocurrency and tracked the ways of withdrawing funds.

According to this logic, the following addresses were identified:

Address in the USDT network 0x574226d249225d063a6850b501525e828feebd3b the total turnover of the address amounted to more than 400 000 000 USDT, currently on the wallet is 15.96 USDT ($15.96). Transaction tracking shows that the funds were withdrawn mainly to the Uniswap exchange 0x03c8bd564f44d149bc38d06d2bec32b71c805066 (500 000 USDT) and also the withdrawal of funds was carried out presumably through the Binance hot wallet 0x42b15f9149e7a54752e0021c1248694ee1b6046d (250 000 000 USDT).
Address in the USDT network 0xc247722ac42b2f9ba752886502c3d3dd39bdb2da the total turnover of the address amounted to more than 15 000 000 USDT, the current balance is 0 the withdrawal was carried out through the Uniswap contract 0x61b62c5d56ccd158a38367ef2f539668a06356ab.
Address in the USDC network 0xc247722ac42b2f9ba752886502c3d3dd39bdb2da the total turnover of the address was more than 65 000 000 USDC, the current balance was 0 the withdrawal was carried out through the Binance exchange 0x5c985e89dde482efe97ea9f1950ad149eb73829b.
Address in the USDT network 0x384f59088d506dddd3f8a7b25dd7094fe3a34401 the total turnover of the address was more than 19 000 000 USDT, the current balance was 0 the withdrawal was carried out through the Huobi exchange 0x574226d249225d063a6850b501525e828feebd3b some funds are now at the addresses 0x05be480f6bff8ec471cad989d2450317ec268774 ($30 000) and 0x4f47d9a320da3d053d6ecd4ffd58f9c71f9888a4 ($258 000).
Address in the USDT network 0x97a8fcc9c05b05a69264175abb99aa5d6793d527 the total turnover of the address was more than 319 000 000 USDT, the current balance was 0 the withdrawal was carried out through the Huobi exchange 0x574226d249225d063a6850b501525e828feebd3b.
Address in the USDT network 0xa89df75e20b7888ebb922f10c724fdb73c464c4f the total turnover of the address was more than 17 000 000 USDT, the current balance 0 withdrawal was carried out through Uniswap contracts 0x7858e59e0c01ea06df3af3d20ac7b0003275d4bf (it currently holds 7 300 000 USDT) and 0x61b62c5d56ccd158a38367ef2f539668a06356ab (there is currently 15 000 000 USDT on it), at the same address in FNK 0x61b62c5d56ccd158a38367ef2f539668a06356ab currently, there are 35 704 637 FNK, which at the current rate of 0.04 is $1 428 185.
Address in the USDC network 0xa89df75e20b7888ebb922f10c724fdb73c464c4f the total turnover of the address amounted to more than 1 700 000 USDC, the current balance – 0 withdrawal was carried out through the Uniswap contract 0x8ad599c3A0ff1De082011EFDDc58f1908eb6e6D8 .
Address in the USDT network 0x03c8bd564f44d149bc38d06d2bec32b71c805066 the total turnover of the address was more than 93 950 000 USDT, the current balance was 206 USDT, the withdrawal was carried out through the Uniswap contract 0x61b62c5d56ccd158a38367ef2f539668a06356ab part of the funds settled at the address 0x71191c6199d5d5178822c5cc19fab83634929a5b (816 427 USDT).
Address in the USDT network 0x072ebb2b2b53a5f4274b59a479a37507fbb5d916 the total turnover of the address was 24 999 970 USDT, the current balance was 0, the withdrawal was carried out through the Uniswap contract 0x61b62c5d56ccd158a38367ef2f539668a06356ab.
Address in the USDT network 0xcba57ef73322e70007b8bbe9e52a0a2d42b21c01 the total turnover of the address was 20 000 000 USDT, the current balance is 0 withdrawal to the Binance exchange 0x28c6c06298d514db089934071355e5743bf21d60.
Address in the USDT network 0x76c9985d294d9aeadd33f451bfb59bc69b20c474 the total turnover of the address was more than 45 000 000 USDT, the current balance was 0, the withdrawal was carried out through the Uniswap contract 0x61b62c5d56ccd158a38367ef2f539668a06356ab.
Address in the USDT network 0xd30b438df65f4f788563b2b3611bd6059bff4ad9 the total turnover of the address was more than 2 200 000 000 USDT, the current balance – 49 726 068 USDT.
Address in the USDC network 0xd30b438df65f4f788563b2b3611bd6059bff4ad9 the total turnover of the address was more than 99 169 000 USDT, the current balance was 2 283 494 USDT, the analysis showed that part of the funds were transferred to the token address Token Yearn USD Coin (cyUSDC) 0x76eb2fe28b36b3ee97f3adae0c69606eedb2a37c (current balance of the address 250 260 600 USDC).
Address in the USDT network 0xf6f389715b33380db272cdd1f869aa7393202048 the total turnover of the address amounted to more than 4 233 000 USDT, the current balance is 0, the withdrawal to the WhiteBit exchange 0x39f6a6c85d39d5abad8a398310c52e7c374f2ba3.
Address in the USDT network 0xf6f389715b33380db272cdd1f869aa7393202048 the total turnover of the address amounted to more than 31 500 USDT, the current balance is 0, the withdrawal to the WhiteBit exchange 0x39f6a6c85d39d5abad8a398310c52e7c374f2ba3.
Address in the USDT network 0x6eda37e024704e182862187188c677f80b808c83 the total turnover of the address amounted to more than 2 000 000 USDT, the current balance is 0, withdrawal to the WhiteBit exchange 0x39f6a6c85d39d5abad8a398310c52e7c374f2ba3 and the service-exchanger address 0x62984e74abbda565f35c6423a00103dcd1f85de7.
Address in the USDT network 0x42b15f9149e7a54752e0021c1248694ee1b6046d the total turnover of the address amounted to more than 250 000 000 USDT, the current balance is 0, withdrawal to the Binance exchange 0x28c6c06298d514db089934071355e5743bf21d60.
Address in the USDT network 0xd9e6a3c4348ad6a58660226ce73d2e1fdb397b32 the total turnover of the address amounted to more than 177 000 000 USDT, the current balance - 0 withdrawal was carried out through the Huobi exchange 0xadb2b42f6bd96f5c65920b9ac88619dce4166f94.
Address in the SHIBA network 0xd9e6a3c4348ad6a58660226ce73d2e1fdb397b32 the total turnover of the address was more than 107 000 000 000 SHIBA, the current balance was 0 the withdrawal was carried out through the address on the Huobi exchange 0x34189c75cbb13bdb4f5953cda6c3045cfca84a9e (current balance of the address 1 483 604 995 512.16 SHIB which equals to $30 888 656.01).
Address in the USDT network 0x5fed6f1fb821988ed98fcaf2a2b5a80f9fb5b89b the total turnover of the address was more than 41 000 000 000 USDT, the current balance was 0 the withdrawal was carried out through the address on the Huobi exchange 0xadb2b42f6bd96f5c65920b9ac88619dce4166f94.
Address in the USDC network 0x9a045e4c5384ae6bf3f64b861a009d81201386d6 the total turnover of the address amounted to more than 26 000 000 000 USDC, the current balance is 10 000 000 USDC, withdrawal via a hot wallet on Binance 0x3f5ce5fbfe3e9af3971dd833d26ba9b5c936f0be (current balance - 627 915 USDC).
Address in the USDT network 0xd882dff4aa136045b77ee14fbca94b3b5b0080cb the total turnover of the address amounted to more than 51 000 000 000 USDT, the current balance is 63 037 USDT withdrawal via a hot wallet on Binance 0x42b15f9149e7a54752e0021c1248694ee1b6046d.
Address in the USDK network 0xd30b438df65f4f788563b2b3611bd6059bff4ad9 the total volume of transactions at the address was $174 970 246, the current balance is 11 820 207. USDK which is equivalent to $11 820 207.49. An analysis of the withdrawals from the specified address allowed us to establish that funds in the total amount of 25 742 990 USDK ($25.7 million) were redirected and are currently in a hot wallet on the OKEx7 crypto exchange 0x5041ed759dd4afc3a72b8192c143f72f4724081. When studying the specified address in other cryptocurrencies, it was found that it is stored in 66 507 480.48 USDC ($66.5M) and 1 177 278 649 USDT ($1.1M).

We have carried out an approximate calculation of funds raised in various cryptocurrencies used by the Finiko group:

Value of crypto, and it’s USD equivalent:

In BTC – 14 234.14 BTC (approx. $552 757 205.45);
In ETH – 6 614 ETH (approx. $18 284 151.45);
In FNK – 100 000 000 FNK (approx. $41 893 600);
In USDT – 3 692 000 000 USDT (approx. $3.692 billions);
In USDC – 257 000 000 USDC (approx. $257 000 000 $);
In SHIBA – 107 714 318 570.96 SHIBA (approx. $2 273 849);
In USDK – 37 563 197 USDK (approx. $37 563 197).

In total, $4.6 billion passed through Finiko's main addresses.

In addition, we have identified cryptocurrency addresses where the stolen funds are currently stored:

Address 1
USDC 0x76eb2fe28b36b3ee97f3adae0c69606eedb2a37c
Balance: 250 260 600 USDC (approx. $250 260 600).

Address 2
BTC 1C1sUtw6fYa1Yr5wexrH2ayT1ZykD9Sobx
Balance: 6 298 BTC (approx. $231 058 420).

Address 3
USDT 0xd30b438df65f4f788563b2b3611bd6059bff4ad9
Balance: 49 726 068 USDT (approx. $49 726 068).

Address 4
USDC 0x5041ed759dd4afc3a72b8192c143f72f4724081
Balance: 66 507 480.48 USDC (approx. $66 millions).

Address 5
USDT 0x5041ed759dd4afc3a72b8192c143f72f4724081
Balance: 1 177 278 649 USDT (approx. $1 million).

Address 6
USDK 0x5041ed759dd4afc3a72b8192c143f72f4724081
Balance: 25 742 990 USDK (approx. $25 millions).

Address 7
SHIBA 0x34189c75cbb13bdb4f5953cda6c3045cfca84a9e
Balance: 1 483 604 995 512.16 SHIB (approx. $30 888 656).

Address 8
FNK 0x7cb04d664937b8b5253dbf2ef8b907340780f655
Balance: 49 410 965 FNK (approx. $20 752 605.45).

Address 9
USDT 0x61b62c5d56ccd158a38367ef2f539668a06356ab
Balance: 15 000 000 USDT (approx. $15 000 000).

Address 10
FNK 0x61b62c5d56ccd158a38367ef2f539668a06356ab
Balance: 35 704 637 FNK (approx. $14 995 947.73).

Address 11
USDK 0xd30b438df65f4f788563b2b3611bd6059bff4ad9
Balance: 11 820 207 USDK (approx. $11 820 207.49).

Address 12
USDC 0x9a045e4c5384ae6bf3f64b861a009d81201386d6
Balance: 10 000 000 USDC (approx. $10 000 000).

Address 13
USDT 0x7858e59e0c01ea06df3af3d20ac7b0003275d4bf
Balance: 7 300 000 USDT (approx. $7 300 000).

Address 14
USDC 0xd30b438df65f4f788563b2b3611bd6059bff4ad9
Balance: 2 283 494 USDС (approx. $2 283 494).

Address 15
BTC 37oRoXcTtBQs6VczKJVpezGRPeeXikoizd
Balance: 45.7 BTC (approx. $1 699 602.09).

Address 16
USDT 0x71191c6199d5d5178822c5cc19fab83634929a5b
Balance: 816 427 USDT (approx. $816 427).

Address 17
ETH 0xc247722ac42b2f9ba752886502c3d3dd39bdb2da
Balance: 53.87 ETH (approx. $132 000).

Address 18
USDT 0xd882dff4aa136045b77ee14fbca94b3b5b0080cb
Balance: 63 037 USDT (approx. $63 037).

Thus, we identified cryptocurrency addresses "Finiko", which is currently stored cryptocurrency assets at about $738 million.

Conclusion: the Analysis of cryptocurrency Finiko addresses in BTC, ETH, USDT,USDC and FNK, allowed to understand the General volume of transactions and cash held at the addresses of the group, to open the general scheme of withdrawal, which was the accumulation of funds in the addresses (the holders), with subsequent distribution to affiliated addresses and conversion via over-the-counter OTC platforms and exchanges are Binance, Huobi, UniSwap, Whitebit, as well as set the addresses of the tokens that were not previously disclosed in the ongoing research and to identify cryptocurrency wallets, which is currently still stored the stolen funds.

The TokenScope Team

#finiko #scam #pyramid #cryptocurrency

More about TokenScope cryptocurrency risk assessment & investigation platform at:

TokenScope.com|Telegram|Twitter