Crypto launderers are turning away from centralized exchanges: Chainalysis — TradingView News
The use of centralized crypto exchanges for laundering illicit funds is on the decline, with Chinese-language money laundering networks now being used more than ever, according to Chainalysis.
Chainalysis said in a report on Tuesday that informal service-based networks offered through Chinese-speaking channels have a wide variety of laundering-as-a-service businesses that use money mules, informal over-the-counter trade desks, and gambling platforms to mix and swap crypto.
The networks emerged during the start of the COVID-19 pandemic in early 2020, and now “dominate known crypto money laundering activity.”
Centralized crypto exchanges have made strides to beef up customer checks and security in the last few years, as regulators…
