Binance, OKX, and Bybit Linked to $28 Billion in Alleged Criminal Proceeds Over Two Years

A two-year investigation by the New York Times and the International Consortium of Investigative Journalists traced approximately $28 billion in funds linked to criminal activity through major cryptocurrency exchanges. Binance, OKX, and Bybit served as primary channels for proceeds allegedly generated through cyberattacks, social-engineering schemes, and large-scale fraud operations. The platforms reportedly enabled rapid conversion of illicit funds into widely traded digital assets and stablecoins, with flows continuing even after Binance paid a $4.3 billion U.S. settlement for anti-money laundering violations.