The post ICIJ probe links major crypto exchanges to global money-laundering networks appeared on BitcoinEthereumNews.com.

The International Consortium of Investigative Journalists (ICIJ) investigative reports into crypto, called the Coin Laundry, have accused major crypto exchanges such as Binance, OKX, Coinbase, Kraken, Bybit, and Kucoin of contributing to money laundering operations.  In partnership with more than 100 journalists from more than 35 countries, ICJ collected hundreds of crypto wallet addresses associated with North Korean cyber thieves, Russian money launderers, and large-scale scam operations.  They used the wallet addresses and traced tens of thousands of crypto transactions recorded on blockchains, finding that illicit actors had either set up accounts at some of the largest exchanges or sent tainted funds to accounts there. In a statement, ICIJ Executive Director Gerard Ryle asked, “Our investigation raises urgent questions: How complicit are major crypto exchanges in enabling criminal activity? And why are regulators struggling to keep pace with a financial system that thrives on opacity and speed?”  Binance leads in illegal fund transactions  CZ and his company, Binance, had both pleaded guilty in November 2023 to operating without basic safeguards to prevent money laundering. They had been accused of  authorizing transactions bound for “terrorists, cybercriminals, and child abusers.” However, as reported by Cryptopolitan, CZ was pardoned by Trump. Between the guilty pleas and Zhao’s pardon, Binance continued to profit from hundreds of millions of dollars in crypto transactions linked to some of the world’s most notorious organized crime groups, according to an analysis by the ICIJ. While the company was under the supervision of court-appointed monitors, at least $408 million worth of crypto flowed to Binance accounts from Huione Group. This is a Cambodia-based financial firm used by Chinese crime gangs to launder proceeds from human trafficking and industrial-scale scam operations. Funds that flew to OKX and Binance from Hione group. Source: ICIJ analysis Additionally, in February, OKX had pleaded…

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Filed under: News - @ November 17, 2025 6:30 pm