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Topic

Cryptocurrency-based money laundering

The use of cryptocurrency to move, obscure, or cash out proceeds from cybercrime, fraud, or other illicit activity.

Current stories

investConfirmed9 publishers

Jury convicts Uranium Finance hacker with $31 million of the $53.3 million take already seized

Manhattan federal jurors convicted Jonathan Spalletta of computer fraud and money laundering over the $53.3 million Uranium Finance exploit of 2021. Where the roughly $31 million in crypto seized in February 2025 ends up now turns on restitution and forfeiture rulings still to come.

Perspective Coverage

10 publishers
Builder
Builder 30%
Operator
Operator 42%
Investor
Investor 28%

Reality

Evidence85
Adoption
Insufficient
Hype gap+8
Incentives40
Confidence78
investConfirmed8 publishers

ZachXBT staked $349.7K of his own money to pose as a client of North Korea's launderers

ZachXBT says he fronted $349.7K in USDC to pose as a client of the Chinese syndicate laundering North Korea's Bybit haul. The only recovery on record, a 442K USDT freeze by Tether, covers at most 3.7% of the $12M+ cluster he says the sting exposed.

Perspective Coverage

8 publishers
Builder
Builder 15%
Operator
Operator 54%
Investor
Investor 31%

Reality

Evidence50
Adoption
Insufficient
Hype gap+35
Incentives40
Confidence55
securityConfirmed5 publishers

Treasury sanctions 10 over Ploutus ATM jackpotting it ties to Tren de Aragua

Treasury's OFAC sanctioned 10 people over Ploutus ATM jackpotting, a scheme US officials tie to at least 1,500 attacks and $40.7 million in losses. Treasury calls the thefts a key revenue source for the Venezuelan criminal group Tren de Aragua.

Perspective Coverage

5 publishers
Builder
Builder 19%
Operator
Operator 56%
Investor
Investor 25%

Reality

Evidence70
Adoption
Insufficient
Hype gap+20
Incentives55
Confidence68
investConfirmed4 publishers

NEAR Intents turned away about $50 million of Bitget loot that the hackers routed elsewhere

NEAR Intents' SHIELD layer refused all but $166,000 of a $50 million-plus attempt by Bitget's hackers. That makes screening policy the clearest difference between NEAR and THORChain. Each protocol carries a different exposure because of it.

Perspective Coverage

4 publishers
Builder
Builder 36%
Operator
Operator 35%
Investor
Investor 29%

Reality

Evidence58
Adoption35
Hype gap+25
Incentives66
Confidence58
securityConfirmed2 publishers

US charges Vietnamese man whose crypto wallets took in $53 million from fraud schemes

Trung Nguyen Van faces a US money-laundering charge over crypto wallets that the DOJ says took in $53 million from fraud between 2018 and 2024. The trail was still good enough to charge him years later, and the department's own figures show the wallets forwarded nearly all of the money.

Reality

Evidence58
Adoption
Insufficient
Hype gap+15
Incentives
Insufficient
Confidence55
investConfirmed3 publishers

Bitget presses THORChain to cut off the wallets holding its stolen $387.5 million

Bitget CEO Gracy Chen publicly asked THORChain to refuse service to the wallets that took $387.5 million, after Circle and Tether stopped nearly $318,000. Much of the rest now depends on a no-KYC swap protocol that has declined to block stolen funds in earlier hacks, including its own.

Perspective Coverage

3 publishers
Builder
Builder 38%
Operator
Operator 40%
Investor
Investor 22%

Reality

Evidence57
Adoption44
Hype gap+12
Incentives68
Confidence55