Everything is not bright, cryptocurrencies are involved in drug cartels, crimes and money laundering.
Cryptocurrencies and their use are not limited to illicit trade. Its multiple anonymity benefits make it attractive to criminals.
The Latin American cartels are recognized for the smuggling of people, drugs, and weapons, now they stand out for the laundering of capital through the crypto trade.
Its modus operandi is to acquire cryptocurrencies and save them on a kind of pendrive, circulating imperceptibly. These physical wallets ensure that the funds are used by the right people.
According to Cointelegraph, the cartels use mining equipment and through the video game industry, they launder money that is obtained from the illicit business.
The police, the FBI and the DEA try to follow the tracks to find these criminals, however the movements are so fast that it is difficult to keep the trail.
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Information source: Cointelegraph https://es.cointelegraph.com/news/the-dark-side-of-cryptocurrencies-organized-crime-laundering-money-with-this-new-technology
Comment
Amazing!! Super insightful