# 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.

UK Moves To Shut Down Crypto Exchange Tied To Iran’s Military

A UK-registered cryptocurrency exchange, Zedxion, is being shut down after a TRM Labs investigation revealed that nearly 90% of its 2024 transactions, totaling around $1 billion, were linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). The UK’s Companies House initiated a compulsory strike-off after discovering the firm filed false information, including a fictitious director named Elizabeth Newman, whose image was traced to a stock photo. The previous director was linked to Babak Zanjani, an Iranian businessman previously sentenced for corruption. The action follows US sanctions imposed in January against Zedxion and a related platform, Zedcex, for supporting the IRGC.

bitcoinist03/21 08:01

UK Moves To Shut Down Crypto Exchange Tied To Iran’s Military

bitcoinist03/21 08:01

Crypto Crackdown Intensifies: Canada Revokes 47 Licenses

Canada's financial regulator FINTRAC has intensified its crackdown on the crypto sector, revoking 47 money services business licenses from crypto-related firms in 2026 alone. This follows earlier major penalties, including a $126 million fine for Cryptomus and a $14 million penalty for KuCoin. Finance Minister François-Philippe Champagne signaled continued strict enforcement, specifically highlighting risks associated with crypto ATMs and money laundering. The move represents a significant shift in Canada's regulatory approach, with FINTRAC strengthening enforcement and using its actions as a public deterrent. The broader context notes that while illicit crypto transactions are estimated at under 1%, the sector faces stricter scrutiny than traditional finance.

bitcoinist03/20 09:02

Crypto Crackdown Intensifies: Canada Revokes 47 Licenses

bitcoinist03/20 09:02

Crypto In Spotlight As OFAC Targets North Korean IT Worker Network

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six individuals and two entities on March 12 for their involvement in North Korean IT worker schemes that generated nearly $800 million in 2024 for the country’s weapons programs. The action highlights the central role of cryptocurrency in moving illicit funds across borders. OFAC and Chainalysis detailed a sophisticated operation involving fake identities, corporate deception, and crypto transactions to evade sanctions. One facilitator, Nguyen Quang Viet, converted $2.5 million into crypto for North Koreans. The designations targeted networks across the DPRK, Vietnam, Laos, and Spain, with 21 crypto addresses identified on Ethereum, Tron, and Bitcoin. This enforcement reflects growing efforts to disrupt North Korea’s crypto-related revenue streams, which reached over $2 billion in stolen funds in 2025.

bitcoinist03/14 10:32

Crypto In Spotlight As OFAC Targets North Korean IT Worker Network

bitcoinist03/14 10:32

On-Chain Tracking｜US Further Cracks Down on North Korean IT Worker Fraud Network Using Cryptocurrency to Fund Weapons of Mass Destruction, Sanctions 6 Individuals and 2 Entities

On March 12, the U.S. Treasury’s OFAC sanctioned six individuals and two entities involved in a DPRK-led IT worker fraud network. These actors allegedly deceived U.S. companies to generate revenue for North Korea’s weapons of mass destruction programs, with nearly $800 million involved in 2024 alone. The sanctioned individuals facilitated crypto exchange, money laundering, and IT operations, while the entities (Amnokgang and Quangvietdnbg) were key operators. A total of 21 cryptocurrency addresses were identified. One individual exchanged approximately $2.5 million in crypto for North Korea. Blockchain analysis revealed fund flows to major exchanges, including over 200,000 USDT and 0.57 BTC traced to CEXs. One address held over $24 million in stablecoins, with significant outflows detected. This action underscores ongoing U.S. efforts to combat DPRK’s use of crypto to evade sanctions and fund illicit programs. Virtual asset service providers are urged to enhance AML screening and monitor high-risk addresses.

marsbit03/14 04:47

On-Chain Tracking | US Further Cracks Down on North Korean IT Worker Fraud Network Using Cryptocurrency to Fund Weapons of Mass Destruction, Sanctions 6 Individuals and 2 Entities

On March 12, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six individuals and two entities involved in a Democratic People’s Republic of Korea (DPRK)-led IT worker fraud network. The scheme defrauded U.S. companies to fund DPRK’s weapons of mass destruction programs, with nearly $800 million involved in 2024 alone. The sanctioned individuals facilitated cryptocurrency exchange, money laundering, and IT operations for DPRK IT workers who used fake identities to infiltrate companies. Two entities, Amnokgang and Quangvietdnbg, were key operators. OFAC identified 21 cryptocurrency addresses linked to the network. One individual exchanged approximately $2.5 million in crypto for DPRK operatives. Chain analysis revealed significant outflows to various exchanges, including over 200,000 USDT and substantial amounts of Ethereum, Tether, and TRX. This action underscores ongoing efforts to combat DPRK’s use of crypto to evade sanctions and highlights the importance of robust anti-money laundering screening for virtual asset service providers.

Odaily星球日报03/14 04:43

Fortune Investigates Binance's Iran Fund Flow: $439 Million Chinese VIP Accounts Surface

Binance, the world's largest cryptocurrency exchange, is facing renewed scrutiny over its compliance practices following a Fortune investigation. The report reveals that a VIP account, registered under the name of a 79-year-old Chinese resident, transferred $439 million in Tether stablecoins to external wallets. These funds were subsequently moved to wallets linked to Iranian entities, including the Islamic Revolutionary Guard Corps. Despite Binance's $4.3 billion plea deal with the U.S. government in 2023, which it committed to strengthen its compliance programs, these massive transactions did not trigger immediate alerts. A second Chinese VIP account, held by a 38-year-old woman, transferred nearly $200 million to the same Iranian-linked network. Internal investigators found that both accounts were likely accessed from the same device, suggesting possible common control. The funds were funneled through a Hong Kong-based entity, Blessed Trust, which also handled back-office operations for Binance. The exchange has denied that internal investigators were fired for uncovering these activities, stating their departures were due to violations of data policies. The U.S. Department of Justice is reportedly investigating whether Iran used Binance to evade sanctions, though the exchange says it is unaware of any such probe. These findings have prompted a U.S. Senate investigation and raised serious questions about the effectiveness of Binance's compliance program.

marsbit03/14 03:49

Fortune Investigates Binance's Iran Fund Flow: $439 Million Chinese VIP Accounts Surface

marsbit03/14 03:49

JPMorgan Hit With Lawsuit Tied To $328 Million Crypto Ponzi Scheme

In a proposed class action lawsuit, JPMorgan Chase is accused of enabling a $328 million crypto Ponzi scheme operated by Florida-based Goliath Ventures. The suit alleges the bank ignored red flags and allowed the firm to use its banking infrastructure to process around $250 million, despite Know Your Customer obligations. One plaintiff claims he lost $650,000, including retirement savings. Goliath’s CEO, Christopher Delgado, has been arrested on fraud and money laundering charges. A separate federal case also names Bank of America for its role. The lawsuit argues JPMorgan should have detected and stopped the fraudulent activity.

bitcoinist03/13 08:02

JPMorgan Hit With Lawsuit Tied To $328 Million Crypto Ponzi Scheme

bitcoinist03/13 08:02

Skynet Crypto ATM Fraud Report Highlights Surge in US Crypto ATM Scams

The newly released Skynet Crypto ATM Fraud Report reveals a sharp rise in cryptocurrency kiosk scams across the United States, with losses reaching $333.5 million in 2025. These scams, driven by organized criminal networks, exploit the speed and anonymity of crypto ATMs to defraud victims through social engineering tactics. Scammers often impersonate government or bank officials to manipulate victims—disproportionately seniors over 60—into depositing cash into machines that transfer funds directly to criminal-controlled wallets. The report highlights challenges in tracing transactions due to structural gaps in kiosk systems and the use of sophisticated laundering techniques. While regulators and operators are implementing stricter verification and real-time analytics, public awareness and pre-transaction interventions remain crucial to combating this growing financial crime.

TheNewsCrypto03/13 00:32

Skynet Crypto ATM Fraud Report Highlights Surge in US Crypto ATM Scams

TheNewsCrypto03/13 00:32

Crypto Court Fight Not Over As Prosecutors Seek Retrial For Roman Storm

US prosecutors are seeking a retrial for Tornado Cash co-founder Roman Storm on charges of money laundering and sanctions violations, following a hung jury on those counts in a previous trial. Although Storm was convicted of operating an unlicensed money-transmitting business, his defense is seeking to overturn that verdict. Prosecutors have proposed an October 2026 retrial date, while Storm’s legal team has indicated unavailability until late 2026. Storm faces up to 40 years in prison if convicted on all counts. The case has drawn criticism from crypto advocates who point to prosecutorial missteps and a recent Treasury Department report acknowledging legitimate privacy applications for crypto mixers. A ruling on Storm’s acquittal motion is expected in April.

bitcoinist03/11 10:10

Crypto Court Fight Not Over As Prosecutors Seek Retrial For Roman Storm

bitcoinist03/11 10:10

US prosecutors request new trial for Tornado Cash co-founder Roman Storm

U.S. prosecutors are seeking a retrial for Tornado Cash co-founder Roman Storm on charges of money laundering conspiracy and sanctions violations after a previous jury failed to reach a unanimous verdict on those counts. Although Storm was convicted of operating an unlicensed money-transmitting business, the unresolved charges allow for a new trial. Prosecutors proposed a retrial as early as October, while Storm’s defense suggested availability no sooner than 2026. The case is closely watched in the crypto industry, as it could set a precedent for the legal liability of developers working on decentralized financial software and open-source protocols.

TheNewsCrypto03/10 10:50

US prosecutors request new trial for Tornado Cash co-founder Roman Storm