TRM data shows that 34 land-based casinos in Sihanoukville, Cambodia, received about $1.07 billion in cryptocurrency between Jan. 1 and Sept. 7, 2026. The data says 64% of those funds went to casinos linked to networks sanctioned by the U.S. Treasury’s Office of Foreign Assets Control, or OFAC. It also says 99.9% of the transfers were made in USDT on the TRON blockchain. Monthly inflows averaged $148 million from January through May, then fell to about $95 million in July and August, though the flows did not stop. According to the report cited by ChainCatcher, the casinos converted USDT into cash and carried out little to no necessary customer due diligence. The report also says pawn shops, supermarkets and exchange counters across the city offered services to swap cryptocurrency for cash.
According to ChainCatcher, citing TRM data, 34 land-based casinos in Sihanoukville, Cambodia, received about $1.07 billion in cryptocurrency between Jan. 1 and Sept. 7, 2026.
TRM said 64% of the funds went to casinos linked to networks sanctioned by the U.S. Treasury’s Office of Foreign Assets Control, or OFAC. It also said 99.9% of the funds were transferred in USDT on the TRON blockchain.
Monthly inflows and cash conversion
Monthly inflows averaged $148 million from January to May, then dropped to about $95 million in July and August, but did not stop completely. The casinos converted USDT into cash and carried out little to no necessary customer due diligence.
TRM also said pawn shops, supermarkets and exchange counters across the city offered services described as crypto-to-cash exchanges.
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