Bangladesh, Nov. 20 -- The cryptocurrency industry, once heralded as a transformative financial revolution, has been revealed to be a fertile ground for illicit activity on a massive scale. A detailed investigation by the International Consortium of Investigative Journalists (ICIJ), alongside 37 media partners in 35 countries, has traced tens of thousands of transactions and uncovered how some of the worlds largest crypto exchanges have facilitated billions of dollars in illicit flows, often linked to organized crime, human trafficking, and state-backed cyber theft.

This sprawling exposé, named The Coin Laundry, paints a troubling picture of an industry that, despite pledges to comply with anti-money laundering regulations, remains ...