HOW A COVERT NETWORK FUNNELED CRYPTO TO SANCTIONED GROUPS

Summary from the TLDR Crypto newsletter

Internal records reveal that a Chinese Nexus used Binance accounts and Hong Kong intermediaries to move $1.7 billion to sanctioned Iranian entities. Over $1.1 billion of USDC stablecoins was utilized to fund groups like the IRGC. The scheme bypassed automated AML controls, highlighting persistent vulnerabilities in global crypto payment rails.