Binance Still Channeling Millions in Illicit Crypto, New Probe Finds — Are Trump’s Rollbacks Impacting Oversight?

Key Takeaways

• Binance continued receiving hundreds of millions successful illicit crypto flows from scam networks, according to a caller investigation.

• President Donald Trump’s regulatory pullbacks, combined with his concern ties to the crypto industry, person raised questions among investigators astir their interaction connected speech oversight.

• Changpeng Zhao precocious publically entertained the thought of reclaiming portion of Binance’s $4.3 cardinal U.S. settlement.

A cross-border probe has concluded that millions of dollars successful transgression proceeds continued to travel done Binance, the world’s largest crypto exchange, adjacent aft the institution pledged to tighten its compliance controls pursuing a U.S. blameworthy plea.

The findings, reported by the International Consortium of Investigative Journalists (ICIJ) and expanded upon by The New York Times, person renewed scrutiny of however large trading platforms grip illicit deposits, and however Donald Trump’s U.S. regulatory argumentation whitethorn beryllium impacting their behavior.

According to the ICIJ’s year-long examination, wallet addresses linked to scams, cyber-heists, and organized transgression funneled important sums into Binance accounts crossed 2024 and 2025.

The ICIJ’s reappraisal of blockchain records showed that wallets connected to Huione Group, a Cambodian fiscal instauration designated by U.S. authorities arsenic a “primary wealth laundering concern,” moved implicit $408 cardinal into Binance lawsuit accounts implicit 12 months.

The New York Times, drafting connected its ain investigation and enactment with the ICIJ, likewise reported that Huione-linked wallets sent implicit $400 cardinal into Binance since 2023.

The Times besides recovered that an further $900 cardinal successful crypto arrived this twelvemonth from a swapping work that North Korean hackers had utilized aft a record-setting theft.

According to the publication, aft hackers stole astir $1.5 cardinal successful cryptocurrency from the Bybit exchange, the radical began converting the stolen Ether done a swapping service.

During the aforesaid period, 5 Binance deposit accounts received an abrupt surge of astir $900 cardinal successful Ether from that service, the Times said, citing the blockchain-tracking steadfast ChainArgos.

Jonathan Reiter, the CEO of ChainArgos, told the Times that the timing suggested the inflows were linked to the hacked funds and should person triggered alerts.

Both outlets stressed that the information reflects deposits into Binance, not impervious of wrongdoing by the exchange.

Heloiza Canassa, a Binance spokeswoman, told the Times successful a connection that the level cannot artifact incoming blockchain transfers but said it takes “appropriate” steps erstwhile suspicious enactment is identified.