Odaily & Bitrace Joint Report: A Complete Breakdown of the Crypto Money Laundering Chain in Southeast Asian Scam Compounds

Original｜Odaily Planet Daily（@OdailyChina）

Author｜Wenser（@wenser 2010 ）

When it comes to Southeast Asia, many people immediately think of islands and cuisine. But beneath this glossy surface, another "folded Southeast Asia" operates at full speed—fraud compounds, human trafficking, online gambling, and money laundering form a vast underground criminal network.

This network's sustained operation relies on a complete payment and settlement system. With traditional banking channels progressively blocked by regulators across various countries, cryptocurrencies—especially USDT—have become the core payment method and value carrier in Southeast Asian criminal activities. From human trafficking to fraud profit-sharing, from technical service procurement to money laundering and cashing out, nearly every link in the chain settles transactions in USDT.

Based on blockchain security team Bitrace's criminal investigations and first-hand real cases, Odaily Planet Daily provides a detailed breakdown of the complete operational chain of Southeast Asia's crypto black market and gray industry, along with 5 actionable anti-fraud guidelines compiled for readers' reference.

May the light dispel the darkness lurking in the corners.