Fast-Growing Chinese Crime Networks Launder 20% of Illicit Crypto: Chainalysis
Federal authorities in the United States and elsewhere over the past year have moved to interrupt the laundering of billions in cryptocurrency stolen through myriad global cyberscam operations, from nation-state fraud schemes to virtual romance and similar financial scams.
The U.S. Treasury Department last year targeted the Huione Group, a Cambodian conglomerate whose various subsidiaries are accused of helping to launder illicit crypto for North Korean-linked threat groups and other criminal entities, by designating it as a primary laundering concern, sanctioned The Prince Group – another Cambodian conglomerate – and released an advisory outlining the activities of such Chinese operations.
In November 2025, the U.S. Justice…
