Chinese Language Money Laundering Networks Emerge as Major Facilitators of the Illicit Crypto Economy, Now Driving 20% of Laundering Activity

This report analyzes Chinese-language money laundering networks (CMLNs) that now account for roughly 20% of known illicit crypto laundering, processing $16.1B in 2025 across 1,799+ wallets. It identifies six service types—running point brokers, money mule motorcades, informal OTC/P2P (White U), Black U services, gambling services, and mixing/swapping services—and maps their on-chain behaviors, showing distinct structuring and aggregation patterns, rapid processing (notably in Black U), and a mix of automated and manual operations. Guarantee platforms like Huione and Xinbi act as marketplaces and escrow but don’t control underlying activity; despite enforcement disruptions and sanctions, vendors migrate and persist. The report advocates coordinated public-private action focusing on operators and vendor networks, leveraging blockchain analytics, OSINT/HUMINT, and information sharing to disrupt crypto-enabled laundering at scale.