How do thieves launder money in crypto?

Hey

So every once in a while, some form of theft happens and a couple of million dollars are stored in a thief's wallet. But how does the thief go on and launder and use the money?

I don't know the current regulations but it seems pretty standard that the thief's wallet gets blacklisted by exchanges. They probably go on and blacklist the wallets that the initial wallet transfers money to.

So is there a trick they use? Does it have to do with decentralized exchanges (I know nothing about them)?

Thanks in advance.