this post was submitted on 18 Mar 2025
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the other two answers are correct, but also they totally do. In particular, the blockchain analysis companies alert companies using their services to the transaction touching tainted coins. This is variably effective, of course.
But also, there are plenty of non-US/EU exchanges that don't give a hoot and once tainted coins hit an exchange they're washed because these exchanges are very good at having pretend KYC/AML.
Ok, that makes sense.
I was somehow under the impression that the main wild cat money to real money exchange was to USD, on account of the media about such exchanges. The rest followed.