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Underground Crypto Trading in Cambodia: How Criminal Networks Turned a Ban into a $4 Billion Empire

Underground Crypto Trading in Cambodia: How Criminal Networks Turned a Ban into a $4 Billion Empire

Caius Merrow Jan, 31 2026 0

Despite a 2019 crypto ban, Cambodia became the world’s largest underground crypto laundering hub, fueled by human trafficking, scam compounds, and $4 billion in illicit funds. This is how criminal networks turned a legal vacuum into a global crime empire.

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