CNBC.com Published Sun, Feb 1 2026
Key Points
- Chinese-language crypto networks moved $16.1 billion in illicit funds, about 20% of the global crypto crime market.
- Telegram “guarantee” platforms act as key hubs linking launderers, criminals and sanctioned actors.
- Southeast Asia has become a base for these networks as China tightens enforcement.
Amber Casino and former scam center, owned by Chen Zhi, a Chinese businessman who was deported to China, is seen in Sihanoukville, Cambodia, on Jan. 18, 2026.
Anadolu | Anadolu | Getty Images
Chinese-language money laundering networks funneled an estimated $16.1 billion in illicit funds through cryptocurrency transactions in 2025, according to a report released Tuesday by blockchain data analysis firm Chainalysis.
These networks, known as CLMNs, accounted for roughly one-fifth of the illicit cryptocurrency ecosystem in 2025, which Chainalysis valued at over $82 billion.
The criminal networks primarily operate through various channels and chat groups on the messaging platform Telegram, where launderers advertise their services to prospective customers. These postings often include pictures showing heaps of cash and public testimonials as proof of liquidity and service quality, according to the report.
These Telegram-based channels, known as “guarantee” platforms, function as marketing hubs or informal escrow services that connect vendors with prospective clients. While the platforms do not control the underlying transactions, Chainalysis said they are the main conduits through which illicit deals are arranged.
CVD 