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Chinese-language organised crime networks moved about $16.1 billion in illicit funds through cryptocurrency in 2025, accounting for roughly 20% of the global crypto crime market, according to Chainalysis.
The report said these networks, known as Chinese Money Laundering Networks, largely operate through Telegram-based “guarantee” platforms that connect launderers, criminals and sanctioned actors without directly handling transactions.
“We have seen everything from North Korean money and DPRK-related hacks going through, to a whole host of other illicit activity,”
Said Chainalysis, head of national security intelligence Andrew Fierman.
Chainalysis found that stablecoins such as USDT from Tether and USDC from Circle are favoured because their lower volatility reduces losses during the laundering process.
“These are very large, well-resourced organisations, this is not like a few criminals operating out of a back room flat,”
Said Mark Button, a criminology professor at the University of Portsmouth.
The report noted that Southeast Asia has become a key base for these groups as China tightens enforcement, with activity linked to scam centres, casinos and other criminal enterprises in countries such as Cambodia and Myanmar.
Despite China’s ban on crypto trading and strict anti-money-laundering laws, Chainalysis said the networks continue to adapt, moving an estimated $44 million per day and shifting routes as authorities increase scrutiny.