TL;DR After emerging at the start of the pandemic, Chinese-language money laundering networks (CMLNs) now dominate known crypto money laundering activity, processing an estimated 20% of illicit crypto funds over the past five years. This growth is 7,325 times faster than growth of illicit inflows to centralized exchanges since 2020. CMLNs processed $16.1 billion in 2025 — approximately $44 million per day across 1,799+ active wallets. Chainalysis has identified on-chain behavioral fingerprints o...