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BTCC / BTCC Square / Global Cryptocurrency /
UK Drug Gang Launches Memecoin in Money Laundering Scheme

UK Drug Gang Launches Memecoin in Money Laundering Scheme

Author:
Global Cryptocurrency
Published:
2025-04-24 10:24:02
5
2

A British drug gang has ventured into cryptocurrency by creating a memecoin to launder illicit proceeds, according to an investigation by private investigator Gary Carroll. The group reportedly hired developers to design a token resembling OneCoin—a notorious Ponzi scheme—before attempting a pump-and-dump scheme to cash out.

Carroll, a former law enforcement specialist in drug crimes, uncovered the operation but withheld the coin’s name to avoid compromising ongoing inquiries. The tactic mirrors classic crypto fraud patterns, where criminals exploit speculative assets to obscure dirty money flows.

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