Overview
- ICIJ’s Coin Laundry investigation links a Cambodia‑connected Huione Group to at least $4 billion in illicit flows between August 2021 and January 2025.
- Despite prior penalties and pleas, major exchanges still received suspect inflows, including about $408 million to Binance (July 2024–July 2025) and $226 million to OKX in the five months after its February 2025 guilty plea.
- Undercover reporting in Canada documented a FINTRAC‑registered storefront handing over $1,900 in cash after a tether transfer with only a $5 bill serial as verification, and offshore services offering up to $1 million in cash deliveries without ID.
- Chainalysis data shows Ukraine‑based 001k has handled more than $14.8 billion since August 2022 while unregistered in Canada, as experts cite widespread crypto‑to‑cash operations and at least $2.5 billion processed by Hong Kong cash desks in 2024.
- India’s I4C mapped 144 cases and flagged 27 exchanges from January 2024 to September 2025, tracing funds from Indian victims through Dubai and Cambodia to Chinese networks, with officials reporting some probes touching wallets linked to militant groups.