ED Traces Crypto Laundering Network Spanning Wallets, Shell Firms, and Hawala

[AIcash]

According to the ED, proceeds from the alleged scam were laundered through a complex web of crypto wallets, foreign bank accounts, shell companies, and hawala channels. Funds were moved via peer-to-peer crypto transfers before being converted to cash or parked in banks. Authorities identified multiple wallet addresses and assets tied to the accused, including foreign entities used to obscure money trails. Officials believe the operation dates back to at least 2015, with tactics evolving to evade growing crypto scrutiny.

[etfs]

somehow AML isn't working huh?