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U.S. President Donald Trump granted a presidential pardon to former Binance CEO Changpeng Zhao, who had pleaded guilty to violating the Bank Secrecy Act by failing to implement an adequate anti-money laundering (AML) program at Binance. Zhao had served a four-month prison sentence, paid a $50 million fine, and agreed not to serve as a Binance executive again. The Department of Treasury previously cited Binance for allowing transactions linked to ransomware groups, terrorist organizations, and darknet markets. The pardon was confirmed by White House spokesperson Karoline Leavitt, who framed the prosecution as part of the Biden administration's 'war on cryptocurrency.'
The pardon follows significant lobbying efforts by Zhao and comes amid reports of financial ties between Binance and entities associated with the Trump family. Binance had previously settled with U.S. authorities for over $4 billion in penalties related to AML failures. The move has been celebrated by Binance representatives and is seen as a signal of shifting regulatory attitudes toward the cryptocurrency industry under the Trump administration.
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Canadian authorities imposed a record $126 million fine on crypto exchange Cryptomus for anti-money laundering violations. The penalty was described as a major regulatory enforcement action.
Bitcoin worth about $1.8 billion was moved from wallets associated with the hacked LuBian platform. The transfers were noted as a significant development tied to previously compromised funds.
A UK regulator filed a lawsuit against HTX alleging illegal cryptocurrency promotions. The legal action was highlighted as a separate enforcement development in the crypto sector.
A U.S. investor reported the theft of roughly $3 million in XRP after an Ellipal wallet was compromised. The incident was cited as one of the notable crypto security events in the roundup.
Astra Nova reported that a compromise affecting a third-party market maker led to the mass sale of RVV tokens worth about $10.2 million, causing a sharp price drop. The company said its smart contracts were not compromised.
U.S. President Donald Trump pardoned Changpeng Zhao after he had served his four-month sentence in the Binance anti-money laundering case. The pardon was reported alongside coverage of Zhao's prior guilty plea and penalty.
Former Binance CEO Changpeng Zhao pleaded guilty to violating the U.S. Bank Secrecy Act for failing to maintain an anti-money laundering program at Binance. He was later sentenced to four months in prison and ordered to pay a $50 million fine.
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U.S. prosecutors and courts advanced multiple cases tied to large-scale cryptocurrency fraud and laundering operations that targeted American victims through fake trading platforms and social-engineering lures. In one California case, **Jingliang Su**, a Chinese national, was sentenced to 46 months in prison after admitting he helped launder more than **$36.9 million** stolen from 174 victims by a scam network operating from Cambodia; the court also ordered more than **$26.8 million** in restitution. Authorities said the fraud used unsolicited messages, calls, texts, dating platforms, and bogus crypto-investment websites to persuade victims to transfer funds, which were then routed through U.S. shell companies, bank accounts, Deltec Bank in the Bahamas, and **Tether (`USDT`) wallets** controlled abroad. In a related prosecution, **Daren Li**, a dual citizen of China and St. Kitts and Nevis, pleaded guilty to conspiracy to commit money laundering after authorities said he and co-conspirators moved more than **$73 million** in victim proceeds through shell companies, U.S. financial accounts, wire transfers, and conversion into `USDT`; he was later sentenced to **20 years in federal prison**. The cases form part of a broader Justice Department crackdown on transnational crypto-enabled investment scams and money-laundering networks, with officials reporting that multiple co-conspirators have pleaded guilty and that the U.S. Secret Service played a central investigative role.
Jun 29, 2026
US authorities reported multiple enforcement actions tied to **crypto-enabled crime**. In the Empire Market case, prosecutors said co-creators **Raheim Hamilton** and **Thomas Pavey** designed the dark web marketplace to help users evade law enforcement and launder proceeds; the market allegedly facilitated about **$430M** in transactions (drugs, stolen payment data, counterfeit currency) before disappearing in 2020 in what investigators described as an exit scam that stole an estimated **$30M** in bitcoin. Hamilton pleaded guilty to federal drug conspiracy charges and agreed to forfeit roughly **1,230 BTC** plus **24.4 ETH** and real estate; Pavey previously pleaded guilty and agreed to forfeit about **1,584 BTC** and other assets. Separately, reporting highlighted alleged misuse and laundering of digital assets in other contexts. On-chain investigator **ZachXBT** traced movements from wallets associated with **US-seized crypto** (held under U.S. Marshals Service custodianship) to wallets allegedly linked to **John Daghita**, the son of a federal contractor executive, with claims of roughly **$23M** in diverted cryptocurrency and another wallet holding about **$36M** in Ethereum; ZachXBT said he alerted the **U.S. Marshals Service**. In another DOJ case, **Jingliang Su** (a Chinese national) was sentenced to **46 months** for laundering proceeds from a cryptocurrency investment fraud that authorities said victimized **174** people for **$36.9M**, using social engineering via social media/dating platforms and counterfeit trading sites, with **$26.9M** restitution ordered and multiple US agencies involved in tracing funds and dismantling the network.
Jun 29, 2026
The United States unsealed charges against two Russian nationals accused of operating the cryptocurrency services **Cryptex** and **PM2BTC**, alleging they ran billion-dollar money-laundering infrastructure used by cybercriminals to process ransomware proceeds, darknet market payments, fraud revenue, and sanctions-evasion transactions. Treasury simultaneously moved against the network: FinCEN labeled PM2BTC a **primary money laundering concern** and barred certain fund transfers involving the service, while OFAC sanctioned Cryptex and alleged facilitator Sergey Sergeevich Ivanov. The action was coordinated with the U.S. Secret Service, Dutch law enforcement, and a State Department reward offer of up to **$10 million** for information on Ivanov. The case extends a broader U.S. campaign against Russian cybercrime finance channels that previously targeted **Hydra Market** and the exchange **Garantex**. Treasury has described Hydra as a major darknet marketplace that enabled ransomware-as-a-service, stolen data sales, and other illicit trade, while Garantex allegedly processed more than **$100 million** tied to illicit actors despite anti-money-laundering deficiencies. Together, the latest charges and sanctions show U.S. authorities escalating efforts to cut ransomware operators and other Russian-linked cybercriminals off from the virtual-currency services they rely on to move and cash out illicit funds.
Jun 29, 2026