A recent study reveals that almost $100 billion in illicit funds have flooded the crypto market since 2019. These funds often utilize popular stablecoins and centralized exchanges for laundering. According to Chainalysis, 50% of these illicit funds end up at centralized crypto exchanges due to their liquidity, integration with traditional finance, and ease of converting crypto to fiat. Tether (USDT) is frequently implicated in these activities, with its primary use case being fraud, money laundering, and market manipulation. Arthur Hayes' Bitmex, previously busted for money laundering, is once again in the news for similar reasons. Law enforcement faces challenges in combating sophisticated crypto laundering techniques, as bad actors increasingly use crypto to launder funds from both on-chain and off-chain crimes, including drug trafficking and fraud. The AUSTRAC report highlights Australia's vulnerability to money-laundering abuse, while $11 billion is linked to the Tether fraud. Additionally, laundering involves proceeds from darknet markets and ransomware.