Chinese Businessman Sentenced for $19.5M Crypto Laundering Scheme Using Mixers & Exchanges
Crypto's shadow economy just got another courtroom drama.
How $19.5M vanished through the blockchain's backdoors
A Shanghai executive got slapped with prison time after prosecutors traced dirty money flowing through Tornado Cash and major exchanges. The scheme? Classic layering—just with more SHA-256 hashes than your average money mule.
Mixers: Privacy tool or criminal toolkit?
The case highlights regulators' growing fixation on obfuscation tech. While privacy advocates scream 'financial freedom,' the FSA keeps adding subpoenas to its Christmas list. Meanwhile, TradFi bankers laundering billions via shell companies? Still getting promoted.
This won't be the last crypto laundering case—just the latest excuse for bureaucrats to ignore the fiat elephants in the room.
