Crypto and Money Laundering: An Inconvenient Truth

2022-05-31 Binance

https://www.binance.com/en/blog/ecosystem/crypto-and-money-laundering-an-inconvenient-truth-421499824684903925

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Binance's blog argues that blockchain transparency helps identify and disrupt crypto money laundering, then uses North Korean Lazarus activity as a state-sponsored crime example. The source says Binance shares intelligence with law enforcement and blocks North Korean funds that attempt to touch its platform, noting that North Korea tries to use many exchanges. It cites investigations around a $250 million exchange theft, the Lazarus theft from Ronin/Axie Infinity, flows to major exchanges and Tornado Cash, and a joint Binance-Chainalysis/law-enforcement effort that froze about $5.8 million in related cryptocurrency. The article is therefore most useful as a platform-side account of tracing and freezing Lazarus-linked crypto proceeds rather than as malware or intrusion tradecraft reporting.

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