Centralized Exchanges Remain Top Crypto Money Laundering Tool for Criminals in 2024

According to recent blockchain analytics reports, centralized cryptocurrency exchanges continue to be the primary vehicle for money laundering activities in the digital asset space. Despite increased regulatory scrutiny and compliance measures, these platforms remain the preferred choice for criminals seeking to obscure the origins of illicit funds. The findings highlight ongoing challenges in the crypto compliance landscape as centralized venues process significantly larger volumes of suspicious transactions compared to decentralized alternatives. Industry experts emphasize that while compliance frameworks have improved, centralized exchanges still handle the majority of identified money laundering flows, underscoring the need for enhanced KYC/AML protocols across major trading platforms.