UK Drug Gang Reportedly Launched a Meme Coin to Launder Money

A drug gang in the UK has created its own cryptocurrency, marking what experts believe is the country’s first known case of criminals launching a digital token to launder illicit profits. While illicit gangs mostly rely on crypto mixers to launder money using Bitcoin or Ethereum, this particular gang created its own meme coin. They hoped it would go viral on social media and quickly spike in value. Meme Coins and Money Laundering – A New Trend for Criminals? According to MailOnline, experts have identified this case as the first time a British street gang has launched a real meme coin as a laundering method source: https://beincrypto.com/uk-drug-gang-creates-meme-coin-money-laundering/