International Consortium of Investigative Journalists: The cryptocurrency industry has become a global criminal "shadow financial system."

According to CoinDesk, the International Consortium of Investigative Journalists (ICIJ) has released a series of investigative reports titled "Coin Laundry," revealing a vast cryptocurrency crime finance network.

The report shows that illegal funds are laundered through major cryptocurrency exchanges. The tracked cryptocurrency funds are linked to global criminal groups, including North Korean hackers, human trafficking activities by Chinese and Russian crime syndicates, fentanyl and other drug trafficking, the Sinaloa drug cartel in Mexico, and "cryptocurrency cash-out shops" operating in Ukraine and Dubai.

ICIJ Executive Director Gerard Ryle stated that the investigation reveals how criminal forces exploit the cryptocurrency market to transfer illegal cash in plain sight, questioning the complicity of major cryptocurrency exchanges in facilitating criminal activities.