TechFlow news, November 17 — According to CoinDesk, the International Consortium of Investigative Journalists (ICIJ) released a series of investigative reports titled "Coin Laundry," exposing a vast financial network for cryptocurrency-related crimes.
The report reveals that illicit funds are being laundered through major cryptocurrency exchanges. Tracked cryptocurrency flows are linked to global criminal organizations, including North Korean hackers, human trafficking operations by organized crime groups in Asia and Europe, fentanyl and other drug trades, Mexico's Sinaloa drug cartel, and "crypto cashing storefronts" operating in Ukraine and Dubai.
ICIJ Executive Director Gerard Ryle stated that the investigation uncovers how criminal forces exploit the cryptocurrency market to move illegal cash in plain sight, and raises questions about the extent to which major cryptocurrency exchanges may be complicit in enabling these criminal activities.
