# Money Laundering Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Money Laundering", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

7 Months After the Collapse of Huiwang, Southeast Asia's Escrow Platforms Undergo a Major Reshuffle

Following the collapse of Huione Pay—dubbed the "Alipay of Southeast Asia"—seven months ago, the region's underground financial guarantee platform sector is undergoing a significant reshuffle. This power vacuum has been swiftly filled by emerging platforms such as XinBi, Tiger/Navigator, JinBei (renamed JinBo), Dali/Tiancheng, and FullyLight. These platforms, operating largely via Telegram and offering services like escrow for illicit transactions, have absorbed the vast user base and markets left behind by Huione. While positioning themselves as "trust intermediaries," their primary clientele consists of networks involved in online scams, money laundering, illegal gambling, and even human trafficking. For instance, the Tiger/Navigator platform explicitly provides "escrow" services for kidnapping-for-ransom operations ("强押车交易"). Data underscores the immense scale: Huione alone processed over $103 billion in cryptocurrency payments and facilitated over $31 billion through its escrow market before its downfall, linking it to Cambodia's notorious Prince Group. Since its collapse, competitors have seen explosive growth. For example, the XinBi platform has accumulated over $1.6 billion in total USDT revenue, while platforms like NewPay, OkPay (under Dali), and FullyLight Wallet collectively processed over $4.8 billion in USDT in a single year. This ecosystem thrives in regions like Cambodia and Myanmar, where regulatory gaps allow these platforms to act as critical financial infrastructure for sprawling cybercrime industries, from scam compounds to online casinos. The article concludes that the moniker "Southeast Asian Alipay" is a misnomer, obscuring the platforms' fundamental role in enabling serious criminal enterprises rather than representing legitimate financial innovation.

Odaily星球日报07/22 04:19

7 Months After the Collapse of Huiwang, Southeast Asia's Escrow Platforms Undergo a Major Reshuffle

Odaily星球日报07/22 04:19

UK Jails Fake Police Crypto Gang as Authorities Tighten Digital Asset Rules

UK authorities have jailed a criminal gang who impersonated police officers to steal over £4 million in cryptocurrency from eight victims. Anthony Ikenwe, Kevin Nwamma, and Hamza Bashir used cold calls and fake police websites to trick victims into handing over account details, then laundered the money through prepaid shopping cards. The fraudsters funded a lavish lifestyle with the stolen funds, purchasing a £60,000 car and storing £500,000 in a Dubai safety deposit box. Their extensive travel to luxury destinations and high-end shopping led to an investigation by the Metropolitan Police Cryptocurrency Team, culminating in raids across London and Essex in November 2025. Ikenwe and Nwamma received minimum 11-year sentences, while Bashir received a lesser term after admitting guilt. This high-profile case is serving as a catalyst for stricter UK digital asset regulations, with authorities pushing for tougher exchange registration rules and enhanced tracing powers to combat the endemic use of crypto in organized crime. The investigation underscored that blockchain technology leaves a traceable digital footprint, aiding law enforcement.

TheNewsCrypto07/17 09:30

UK Jails Fake Police Crypto Gang as Authorities Tighten Digital Asset Rules

TheNewsCrypto07/17 09:30

Why the UXLINK hacker’s 14,336 ETH transfers raise fresh questions for DeFi

Recent on-chain activity reveals the UXLINK exploiter is actively laundering stolen funds, complicating tracing efforts. The September 2025 hack, which exploited a 'delegateCall' vulnerability to steal roughly $4.5 million, involved converting illicit assets into DAI and Ethereum. Recently, the attacker swapped over 10 million DAI for approximately 6,000.8 ETH and has deposited a total of 14,336.6 ETH into the privacy mixer Tornado Cash in recent weeks, including over $8.1 million worth in a single move. Simultaneously, wallets connected to the defunct Mining Express Ponzi scheme have been converting long-held assets, swapping 5,004 ETH for 8.8 million DAI. Following a separate exploit of the Jaredfromsubway.eth MEV bot, about $5.1 million was also routed to Tornado Cash. These incidents underscore a critical vulnerability in DeFi: while enabling permissionless transfers, the ecosystem lacks effective mechanisms to halt or manage illicit funds once in motion, allowing them to be moved and concealed relatively easily. This highlights the need for strengthened cross-network coordination and real-time threat detection to better safeguard the space.

ambcrypto07/05 10:02

Why the UXLINK hacker’s 14,336 ETH transfers raise fresh questions for DeFi

ambcrypto07/05 10:02

Goliath Ventures CEO pleads guilty in $250M crypto fraud case, agrees to forfeit luxury assets

The CEO of crypto investment firm Goliath Ventures, Christopher Alexander Delgado, pleaded guilty on June 30 to federal fraud and money laundering charges. He admitted his role in a cryptocurrency Ponzi scheme that caused at least $250 million in investor losses. Prosecutors said the scheme, which operated from at least January 2023 through January 2026, raised at least $400 million by promising investors returns from cryptocurrency liquidity pools. Instead, funds were used to pay earlier investors and finance executives' lavish spending. Delgado faces up to 20 years in prison for each fraud count, with sentencing scheduled for October. As part of his plea, he agreed to forfeit numerous luxury assets allegedly purchased with fraud proceeds, including real estate, luxury vehicles, watches, jewelry, and cryptocurrency holdings such as Ethereum and USDC.

ambcrypto06/30 21:27

Goliath Ventures CEO pleads guilty in $250M crypto fraud case, agrees to forfeit luxury assets

ambcrypto06/30 21:27

During the World Cup, USDT becomes the preferred chip for illegal gambling? Beware of three typical scams

During the 2026 FIFA World Cup, USDT has become the preferred payment method for illegal online gambling due to its price stability, anonymity, and fast cross-border transfers. This article analyzes how USDT facilitates this activity and outlines three major scams targeting users. **Why USDT is the "Chip of Choice"**: It solves bettors' anxiety over crypto volatility, enables instant cross-border transfers without traditional banking, and shows significant abnormal transaction spikes during major events. **The Fund Flow**: Gambling platforms use a complex laundering chain involving multi-layer address hopping, cross-chain transfers (e.g., Polygon to Tron), mixers like Tornado Cash, and final cash-out via exchanges. **Three Typical Scams**: 1. **"USDT Betting Evades Regulation"**: Fake platforms promising anonymous, high-odds betting but manipulating outcomes. 2. **Fake Sportsbooks**: High-quality replica sites that allow small initial withdrawals to build trust before freezing accounts with larger funds. 3. **"Insider Tips / Guaranteed Wins"**: Schemes selling fabricated "AI predictions" or "fixed match" models to exploit information anxiety. **Identifying Suspicious Addresses**: Key chain-based indicators include a "fast-in, fast-out" transaction pattern, clustered addresses with consistent behavior, uniform Gas fee patterns, and frequent cross-chain jumps. **User Protection Advice**: * Avoid any project promoting "USDT betting," "Web3 predictions," or "anonymous high returns." * Be skeptical of promises like "guaranteed wins" or "insider models." * Do not trust platforms just because they allow small withdrawals—this is a common trust-building tactic. * If scammed, preserve all evidence: transaction hashes, wallet addresses, chat logs, and platform URLs. **Conclusion**: USDT provides unprecedented liquidity for illicit activities. The most effective protection for users is complete non-participation in any form of online crypto gambling.

marsbit06/22 10:48

During the World Cup, USDT becomes the preferred chip for illegal gambling? Beware of three typical scams

marsbit06/22 10:48

South Korea Moves to Regulate Cross-Border Crypto Transfers Under New Framework

South Korea is expanding its regulatory framework for cross-border virtual asset transfers, set to launch in December, by including fintech companies. Under the new rules, firms conducting such transfers must register with the Ministry of Economy and Finance and report transactions through the foreign exchange system. The move aims to bring previously unsupervised crypto transfers under formal oversight to address money laundering and crime risks. While initial expectations were that major crypto exchanges like Upbit would dominate the new licensing system, regulators now plan to extend eligibility to non-traditional entities, including fintech firms, if they can efficiently perform transfers. Authorities are finalizing implementation rules with industry stakeholders ahead of the December launch. This framework is part of broader efforts to strengthen digital asset oversight in South Korea, which includes developing rules for tokenized securities, potentially subjecting them to securities taxes.

TheNewsCrypto06/19 11:53

South Korea Moves to Regulate Cross-Border Crypto Transfers Under New Framework

TheNewsCrypto06/19 11:53

Teen Accused Of $13M Crypto Scam That Funded Miami Luxury

A Canadian teenager, Trenton Richard David Johnston, is accused of running a cryptocurrency fraud scheme from the Miami area, allegedly causing over $13 million in losses. The 19-year-old and unnamed co-conspirators are charged with posing as support representatives from a major search engine and crypto companies to gain access to victims' digital accounts and crypto wallets. He was indicted on charges of conspiracy to commit wire fraud and money laundering. Prosecutors allege that Johnston, along with co-defendant Brandon Michael Tardibone, laundered more than $1 million of the illicit funds to finance luxury vehicles, high-end jewelry, and an extravagant nightlife. Tardibone is additionally charged with harboring Johnston, who had overstayed his visa. Both defendants face up to 20 years in prison if convicted. The case is being prosecuted by the U.S. Attorney's Office for the Southern District of Florida.

bitcoinist06/12 04:01

Teen Accused Of $13M Crypto Scam That Funded Miami Luxury

bitcoinist06/12 04:01

Crypto Criminals In Crosshairs As Chainalysis Partners With South Korean Police

South Korea's national police have partnered with blockchain analytics firm Chainalysis to strengthen their investigative capabilities against crypto-related crimes. The agreement, formalized through a memorandum of understanding, provides Korean investigators with access to specialized training and certification programs. This collaboration aims to build institutional expertise for tackling a broad spectrum of virtual asset crimes, including money laundering and state-sponsored hacking. The move follows the recent creation of a dedicated multi-agency task force to eradicate crypto-based money laundering. While North Korea-linked crypto theft, which saw massive losses in 2025, is a significant concern, officials emphasize the partnership is designed to enhance overall investigative capacity for handling complex, cross-border crypto crime cases.

bitcoinist06/11 10:01

Crypto Criminals In Crosshairs As Chainalysis Partners With South Korean Police

bitcoinist06/11 10:01

Netting $2.4 Million: These 9 Insider Addresses Knew the US-Iran War Best

On May 18th, Bubblemaps investigators disclosed the discovery of nine highly correlated anonymous accounts on Polymarket that netted over $2.4 million from prediction markets tied to US military actions, with a 98% win rate. The accounts focused almost exclusively on the 2026 US-Iran conflict, placing bets with uncanny precision days before key events like the "Operation Epic Fury" strike on February 28th, which eliminated Iran's Supreme Leader. Bubblemaps' analysis linked four core accounts—each profiting around $400k—and five others through synchronized timing, transaction patterns, and fund flows. The money moved through shared wallet networks, suggesting professional obfuscation. This case is six times larger than the earlier prosecution of US Army Sergeant Gannon Van Dyke for insider trading on Polymarket. While platforms like Polymarket have established AI monitoring and explicit rules against trading on stolen or confidential information, the incident has spurred controversial "insider copy-trading" services that help users follow high-success accounts, raising new regulatory questions.

marsbit05/25 02:06

Netting $2.4 Million: These 9 Insider Addresses Knew the US-Iran War Best

marsbit05/25 02:06

18-Year-Old Hacker's Boastful Discord Display Leads to Uncovering of $19 Million Theft Case

An 18-year-old hacker from the U.S., Dritan Kapllani Jr., has been exposed by on-chain investigator ZachXBT for his alleged involvement in multiple cryptocurrency social engineering attacks, with total funds stolen estimated at $19 million. The case gained attention after Dritan inadvertently revealed his involvement during a Discord voice call in April 2026, where he screen-shared his Exodus wallet containing approximately $3.68 million to show off his wealth during a "Band 4 Band" argument. Tracing this wallet address led investigators to uncover its connection to a major theft from March 14, 2026, where 185 Bitcoin (worth around $13 million at the time) was stolen. Approximately $5.3 million from that heist was funneled into Dritan’s wallet. Further analysis linked the same wallet to over $5.85 million from other social engineering attacks dating back to 2025. While Dritan has not yet been formally charged, he is identified as "Co-Conspirator 1" in recently unsealed court documents related to the 185 Bitcoin theft case. Another individual, Meme coin KOL yelotree, is also implicated for allegedly assisting with money laundering through a car rental business. Dritan, who had been living a lavish lifestyle and was previously seen as untouchable within hacking circles, turned 18 recently, making him legally accountable. His previous "immunity" has ended as law enforcement closes in.

Odaily星球日报05/13 00:45

18-Year-Old Hacker's Boastful Discord Display Leads to Uncovering of $19 Million Theft Case