Overview
- An ICIJ-led investigation details how criminals used major crypto venues and cash desks worldwide, with Cambodia’s Huione Group alleged to have moved at least $4 billion from August 2021 to January 2025.
- ICIJ analysis shows Huione-linked wallets sent over $408 million to Binance between July 2024 and July 2025 and about $226 million into OKX accounts in the five months after its February 2025 guilty plea.
- India’s cybercrime unit I4C flagged 27 exchanges linked to laundering roughly Rs 623.63 crore siphoned from 2,872 victims from January 2024 to September 2025, tracing recurring routes through Dubai and Cambodia to Chinese scam networks.
- Undercover reporting in Canada documented crypto-to-cash pickups with minimal checks, including a $1,900 handoff verified only by a $5 bill serial number and offshore offers to deliver up to $1 million in cash with no ID.
- Authorities cite fragmented rules and limited capacity despite at least $5.8 billion in industry penalties, with cases highlighting weak on/off‑ramp controls and ongoing challenges in enforcement and custody of seized assets.