U.S. authorities have charged a Venezuelan national, Jorge Figueira, over a massive money laundering scheme. The alleged operation funneled roughly $1 billion in illicit proceeds through traditional bank channels, cryptocurrency exchanges, and personal wallets to obscure the money trail.



The Department of Justice investigation, backed by the FBI, uncovered an intricate web of crypto-enabled transactions designed to mask the source of funds. The case highlights growing scrutiny on how digital assets can be exploited for financial crimes—a recurring concern for regulators and crypto platforms alike.

With enforcement actions like this ramping up globally, exchanges and wallet providers face mounting pressure to strengthen KYC and AML protocols. The probe underscores why compliance infrastructure remains critical across the blockchain ecosystem.
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BearMarketSunriservip
· 5h ago
Another $1 billion money laundering case has emerged, this time involving crypto... Honestly, exchanges should be worried.
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AllInDaddyvip
· 5h ago
Another money laundering case... This guy really has guts. That's why exchanges are now strictly enforcing KYC. A billion dollars, how much trouble can it cause?
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