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

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business ties to the crypto industry, have raised questions among investigators about their impact on exchange oversight.Binance has said it is “categorically false” that it “turns a blind eye’ to criminal activity.”A cross-border investigation has concluded that millions of dollars in criminal proceeds continued to flow through Binance, the world’s largest crypto exchange, even after the company pledged to tighten its compliance controls following a U.S. guilty plea.The findings, reported by the International Consortium of Investigative Journalists (ICIJ) and further explored by The New York Times, have renewed scrutiny of how major trading platforms handle illicit deposits and how Donald Trump’s U.S. regulatory policy may be influencing their behavior.According to the ICIJ’s year-long examination, wallet addresses linked to scams, cyber-heists, and organized crime funneled substantial sums into Binance accounts across 2024 and 2025.The ICIJ’s review of blockchain records showed that wallets connected to Huione Group, a Cambodian financial institution designated by U.S. authorities as a “primary money laundering concern,” moved over $408 million into Binance customer accounts over 12 months.The New York Times, drawing on its own analysis and work with the ICIJ, similarly reported that Huione-linked wallets sent over $400 million into Binance since 2023.The Times also found that an additional $900 million in crypto arrived this year from a swapping service that North Korean hackers had used after a record-setting theft.According to the publication, after hackers stole roughly $1.5 billion in cryptocurrency from the Bybit exchange, the group began converting the stolen Ether through a swapping service.During the same period, five Binance deposit accounts received an abrupt surge of about $900 million in Ether from that service, the Times said, citing the blockchain-tracking firm ChainArgos.Jonathan Reiter, the CEO of ChainArgos, told the Times that the timing suggested the inflows were linked to the hacked funds and should have triggered alerts.Both outlets stressed that the data reflects deposits into Binance, not proof of wrongdoing by the exchange.Heloiza Canassa, a Binance spokeswoman, told the Times in a statement that the platform cannot block incoming blockchain transfers but said it takes “appropriate” steps once suspicious activity is identified.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,617.32 -55.09 (-0.83%)Dow 3046,091.74 -498.50 (-1.07%)Nasdaq22,432.85 -275.23 (-1.21%)Russell 20002,348.74 +7.36 (+0.31%)VIX24.69 +2.31 (+10.32%)Gold4,067.40 -7.10 (-0.17%)PortfolioSign in to access your portfolioSign inTop gainersONDS Ondas Holdings Inc. 7.84 +1.59 (+25.34%)DGNX Diginex Limited 16.20 +2.61 (+19.21%)LGN Legence Corp. 44.93 +4.81 (+11.99%)TMC TMC the metals company Inc. 5.42 +0.53 (+10.95%)SRRK Scholar Rock Holding Corporation 39.81 +3.33 (+9.14%)Top losersNICE NICE Ltd. 105.65 -15.21 (-12.58%)KLAR Klarna 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