Money Laundering
Huione Pay announced a suspension of operations following a surge in withdrawals after new U.S. sanctions, amid allegations of money laundering and ties to crypto scams. The move raises immediate liquidity and custody concerns for users and counterparties.
Germany and Switzerland, with Europol coordination, dismantled Cryptomixer, a nine-year-old crypto mixing service accused of laundering roughly $1.4 billion for ransomware groups and darknet markets. The takedown removes a long-standing money-laundering hub from the ecosystem.
Federal prosecutors charged the founder of a Chicago-headquartered crypto ATM firm on Nov. 18, 2025, alleging roughly $10 million was laundered. The case underscores growing enforcement risks for cash-to-crypto operators.
Zhimin Qian was sentenced to more than 11 years for money laundering tied to what UK authorities describe as the largest Bitcoin seizure in the country — valued at roughly $6.2 billion. The case highlights rising enforcement focus on crypto flows and compliance risks for the broader crypto market.
Zhimin Qian received an 11-year and 8-month sentence after pleading guilty to laundering Bitcoin tied to a £600 million Chinese investment fraud. UK investigators say they seized more than 60,000 Bitcoins in the probe.
Senator Elizabeth Warren slammed President Trump's pardon of Changpeng Zhao, founder of Binance, who pleaded guilty to money laundering. She warns of corruption and urges Congress to address market lawlessness, highlighting the urgency for crypto market structure legislation.
Bitcoin has seen record highs in value during 2023, but alongside its growth, concerns about money laundering schemes involving cryptocurrencies have increased. This post explores the implications and how platforms like Bitlet.app help promote safer crypto transactions.
In August 2025, the U.S. Treasury and FinCEN took major steps to combat illicit finance, targeting networks linked to money laundering, North Korea's weapons funding, and Iranian oil exports. These moves highlight ongoing efforts to strengthen financial crime oversight amid evolving digital asset landscapes. Learn how solutions like Bitlet.app's Crypto Installment service can help you navigate the crypto market responsibly.
Changpeng Zhao, founder of Binance, was sentenced to four months in prison in April 2024 over money laundering allegations. In 2025, he is campaigning for a pardon, citing concerns about the severity of the sentence and his safety.
The U.S. Senate and House are moving forward with bills to regulate digital assets, specifying that major cryptocurrencies like Bitcoin and Ether are not securities, while introducing disclosure rules for issuers. Meanwhile, the Tornado Cash co-founder faces allegations of enabling money laundering.