According to on-chain researcher ZachXBT, a pig butchering scam group is actively using a new deposit address on the BigONE exchange, despite the exchange's claim to have frozen a portion of previously involved assets. ZachXBT alleges that the same group, which used a prior account for seven months uninterrupted, has funneled approximately $4.5 million from scams into a new BigONE Bitcoin (BTC) deposit address within the last week. This highlights potential security vulnerabilities and raises concerns for traders about the effectiveness of the exchange's monitoring and anti-money laundering procedures.

According to on-chain investigator ZachXBT, the cryptocurrency exchange BigONE allegedly processed over $60 million in funds linked to numerous pig butchering scams. ZachXBT highlighted a single Bitcoin deposit address, 16jAfbpfRzFvagiP5hzBPrYF9YhUhQuq9h, which he claims received these illicit funds late last year from scams like 'Define product' and 'bestbitex'. He noted that this significant activity was absent from a report issued by the exchange, raising critical questions for traders about the platform's compliance and security protocols. This allegation introduces significant counterparty risk for users holding assets on BigONE.