The New York Times: $28 billion in "dirty money" has flowed into encryption trading platforms over the past two years, with CEX being one of the main recipients.

On November 18, The New York Times published an article titled “$28 Billion of 'Dirty Money' in the Crypto Industry” stating that over the past two years, as much as $28 billion in funds directly related to illegal activities has flowed into major crypto asset trading platforms. This money comes from hackers, thieves, and extortionists, tracing back to North Korean cybercriminals, as well as scams from Minnesota to Myanmar. Among them, the world's largest trading platform CEX is one of the main recipients of 'dirty money'—it reached a $2 billion business deal with Trump's family's crypto asset company in May of this year. At least eight other well-known trading platforms have also received these funds, including CEX, which is rapidly expanding in the United States. The New York Times stated that its main findings include: after pleading guilty in 2023, CEX still received over $400 million in deposits from Cambodia's Huione Group— which has been identified by the U.S. Treasury as a key node in criminal activities. This year, $900 million from North Korean hackers has also flowed into CEX's deposit accounts. Within five months after reaching a $504 million settlement with the U.S. government (for violating the Money Transmission Act) in February this year, CEX received over $220 million in deposits from Huione. In 2024, global crypto trading platforms have received at least $4 billion related to scams; the stolen funds ultimately flow to major trading platforms such as CEX, CEX, CEX, and CEX. Last year, over $500 million flowed into CEX, CEX, and CEX from “crypto-to-cash” counters. These counters allow users to exchange digital money for cash bills, many of which operate in physical stores, providing criminals with convenient exit routes.