Southeast Asian Money Laundering Crackdown Linked to Bitcoin Crash

A recent event has sparked interest in the connection between a major cryptocurrency market downturn and a global crackdown on money laundering operations.

On October 10, 2025, Bitcoin's price plummeted, with many altcoins following suit. The exact cause of the crash remains unclear, but some researchers have suggested that it may be linked to the shutdown of 'tea money' liquidity.

'Tea money' is a colloquial term for the commission or spread paid to middlemen in underground financial transactions. It serves as an index of global capital controls and can foreshadow market crashes.

Chen Zhi, a prominent figure in Southeast Asia's underground banking scene, was at the center of this crackdown. His operations were shut down, and his assets seized, sparking a ripple effect through the region's financial networks.