The cryptocurrency industry is once again under global scrutiny following revelations of sophisticated money laundering networks abusing blockchain’s decentralized structure. A recent FinTelegram Financial Intelligence Report outlines an alarming surge in cross-border crypto crimes involving rogue states, organized crime syndicates, and compromised platforms.
1. The Bybit Heist: Lazarus Group Launders $1.5 Billion in Ethereum
In February 2025, the North Korean hacker group Lazarus executed a massive theft from Dubai-based crypto exchange Bybit, stealing an estimated $1.5 billion in Ethereum. The group laundered the assets via DeFi mixers, meme coins, and Solana’s pump.fun, fragmenting large sums into thousands of microtransactions to bypass compliance filters.
➡️ Read more via FinTelegram
2. Operation Destabilize: UK’s Largest Crypto-Linked Bust
The UK’s National Crime Agency dismantled two Russian-organized crime rings—Smart and TGR—operating out of London, Moscow, and Dubai. The groups swapped drug money for Tether (USDT) held by cybercriminals in Russia, laundering £20 million in crypto.
➡️ Full story: Wired – Crypto Laundering Kingpin
3. OKX Exchange Fined $500 Million for $5 Billion AML Breach
The global exchange OKX admitted to systematic anti-money laundering failures, enabling more than $5 billion in suspicious transactions. The U.S. DOJ cited internal communications where employees coached clients on how to bypass KYC protocols and hide their jurisdiction.
➡️ Source: FinTelegram Report
4. Xinbi Guarantee: A $8.4 Billion Crypto Crime Hub Registered in the U.S
In a stunning revelation, a Chinese-language crypto laundering market known as Xinbi Guarantee was found operating via Telegram and registered in Colorado. It facilitated $8.4 billion in illicit transactions since 2022, supporting North Korean hackers, pig butchering scams, and stolen data markets.
➡️ Full investigation: Wired – Xinbi Guarantee
5. CryptoDaily & Alex Bures: A Money Launderer Returns
Alex Slavomir Bures, formerly involved in laundering for cybercriminal Uwe Lenhoff, has reappeared under the alias XXX Rico, reportedly managing the online outlet CryptoDaily under an Albanian firm. His involvement suggests old laundering networks are adapting, not disappearing.
➡️ Deep dive: FinTelegram – Crypto Daily Exposé
Conclusion: A Call for Unified Crypto Regulation
These interconnected scandals emphasize an urgent need for global crypto regulations. While digital assets offer innovation, their pseudonymous nature continues to attract criminal exploitation. Stronger AML/KYC enforcement and international cooperation are essential to secure the future of digital finance.
➡️ Full Financial Intelligence Report: FinTelegram