Ah, the International Consortium of Investigative Journalists-those tireless seekers of truth-have stumbled upon a delightful little scandal. Their report, aptly named “The Coin Laundry”, reveals how the underworld’s finest have been frolicking through Binance and OKX like drunken aristocrats at a masquerade ball. How charming! 🎭
Money launderers, those industrious souls linked to drug lords, scam factories, and North Korean hackers (because why not?), have apparently been treating crypto exchanges like their personal laundromats. Who knew digital coins could wash away sins so efficiently? 🧼
The Huione Group: A Comedy of Errors
Enter the Huione Group, Cambodia’s very own financial spectacle, labeled by the U.S. as a “primary money laundering concern”-which sounds almost prestigious, doesn’t it? Between July 2024 and July 2025, this merry band allegedly funneled $408 million in Tether to Binance customers. And here’s the kicker: this was happening while Huione was under the watchful eyes of court-appointed monitors. Oh, the irony! 🤡
Not to be outdone, OKX-fresh off its own guilty plea for operating without a license-welcomed $226 million with open arms. Because nothing says “reformed” like accepting dirty money five months after getting caught. Bravo! 👏
The report also uncovered a delightful network of cash desks and courier services in cities like Hong Kong, Toronto, London, and Istanbul-perfect for those who prefer their money laundering with a side of anonymity. Who needs regulation when you have a good courier? 🚗💨
Regulators? What Regulators? 🤷♂️
Ah, the regulators-those mythical creatures who are supposed to keep this circus in check. According to the ICIJ, they’re doing a splendid job of… well, not much. “Fragmented enforcement” and “insufficient oversight” are the polite terms. Meanwhile, criminals are apparently getting more sophisticated, while compliance teams scramble to keep up. It’s like watching a chess match where one player doesn’t know the rules. ♟️
And the fines? Oh, they’re hefty-$5.8 billion in total! But alas, the losses keep climbing. The FBI estimates Americans lost $9.3 billion to crypto crimes in 2024 alone. At this rate, we might as well start calling it “The Great Digital Heist.” 🎩💰
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2025-11-18 09:29