In the UK, a street gang created its own cryptocurrency in order to launder revenues from drug trafficking. The scheme was discovered by the drug dealer from the Claymore Advisory Group Gary Carroll.

Carroll, who worked for the police for 14 years, learned about the scheme through his confidential sources, but did not disclose the press name of the memcoid. According to him, the gang planned to promote a coin through advertising campaigns on social networks in order to increase its cost, and then sell, masking income from drug deeds to legal profits from cryptocurrency entrepreneurship.

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The expert predicts that such cases will become more often due to the simplicity of the creation of memcoids and their attractiveness for criminals. Cryptocurrencies have long been actively used by international criminal groups, such as Smart and TGR. Attackers often wash money in this way for large gang groups operating in different countries. However, with a scheme that implies the promotion and increase in the price of its own asset, Carroll collided for the first time.

Earlier, law enforcement agencies of the Brazilian state of San Paulo applied to the court for permission to freeze more than 8.6 billion reactions ($ 1.5 billion) in the accounts of the fintech Bank 4TBANK. The Brazil prosecutor’s office suggests that the cryptor -focused bank is under the full control of the local drug cartel FIRST Capital Command.