Cryptocurrency Laundering: 'Coin Laundry' Exposed
Update: 2025-11-17
Description
The Coin Laundry: ICIJ uncovers criminals exploiting cryptocurrency platforms, including those under US penalties, to move large sums. The speed of illicit activity outpaces investigators ability to track transactions, especially with anonymous wallets and swappers. A case involving the Huione Group, a Cambodian financial institution, shows USDT worth over $400 million moving into Binance and OKX accounts, despite regulatory warnings. OKX denies being a money laundering haven, claiming swift action against credible risks. Global regulators grapple with uneven enforcement and limited cross-border coordination in cryptocurrency.
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