Organized Crime Uses Meme Coins to Conceal Illegally Gained Funds

Instead of relying on established cryptocurrencies like Bitcoin or Ethereum for money laundering, a UK crime gang has taken a novel approach: they’ve created their own meme coin. This group aims to capitalize on the hype surrounding online trends and social media, inflating the token’s value before quickly dumping it to conceal illicit earnings. The method raises serious concerns about the future of cryptocurrency in criminal activity.