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TEXXR

Chronicles

The story behind the story

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A deep dive into a global money-laundering ecosystem powered by crypto and messaging apps like WeChat and Telegram, used by drug cartels and criminal groups

A vast ecosystem supported by the gig economy has sprung up to clean all that cash.  —  The pitch was simple: Crypto for “cold hard cash.”LinkedIn:Tamer Yalav,Poppy Alexander,CAT Labs,Scott Greytak, andNicola WhiteLinkedIn:Tamer Yalav:One major shift the article highlights is that money-laundering is no longer only done by large organized networks or professional firms — instead, a kind of informal freelance system has sprung up. …Poppy Alexander:This Jessica Brice deep dive into the actual mech

Bloomberg Jessica Brice

Discussion

  • @ryanjamesweeks Ryan Weeks on x
    “Ask federal agents, officers or prosecutors whether crypto's traceability really makes their jobs easier, and the answer you're most likely to get is: If only.” Brilliant story from @JessicaVBrice on the grim reality of crypto crime. https://www.bloomberg.com/...
  • @business @business on x
    Drug cartels have overcome their reluctance about cryptocurrencies, and a vast ecosystem has sprung up to clean all that cash https://www.bloomberg.com/...