Great Britain: Drug gangsters use their own Memecoin for money laundering
- The English drug mafia has its own Memecoin project to wash drug money-a novelty in crime history
- Memecoin fraud rose in a leap in 2024, with damage of around half a billion dollars-75% of which due to the insane social media hypes.
A drug ring operating in Great Britain has created its own cryptocurrency to wash its illegal cash flow, which, according to experts, is the first case of this kind. The operation is a Memecoin that is supposed to go viral through the hype in social media and to drive Deb course up.
In contrast to conventional money laundering, for which Bitcoin and Ethereum are mostly used, this gang has developed its own digital tokens to disguise illegal income as legitimate crypto profits. Law enforcement agencies and analysts for cybercrime now warn of the spread of the new money laundering procedure.
Memecoins for money laundering
According to Gary Carroll, a drug crime expert at the Claymore Advisory Group, this is a new level of money laundering. According to Carroll, criminals have been using cryptocurrencies for at least 15 years, but the use of its own memoin has been unique so far.
Instead of using mixers or coins from third -party providers, the gang commissioned developers to create a new token. They planned to advertise it online and then sell it in a coordinated dump.
The gang acts like a medium -sized company, with the difference that you make your money with drug trafficking, blackmail, fraud, fakes and smuggled cigarettes. According to Carroll, the winnings from Memecoin would appear as a legitimate crypto trading profit, which would make it difficult to trace drug sales.
The name of the coin and the gang is not mentioned to protect sources, but Carroll compares it with a pump-and-dump. He says the gang wanted to leave the token in popular Wallets and make it attractive for unsuspecting investors:
“Even a small price jump would make big profits.”
Fraud with Memecoins worldwide on the rise
A report by Merkle Science in February 2025 showed that fraud in connection with Memecoins caused losses of over $ 500 million worldwide. 75% of which were caused via Twitter/X and 19% via YouTube.
There were 44% of all fraud cases on social engineering. Most of these passed on Solana, with tools like Pump. Fun easier than ever, starting memoins and advertising campaigns.
Carroll warned that more and more criminal groups will take over this model because the creation of memoins via crypto launchpads will be becoming easier and easier:
“This will effectively legitimize your activities under the guise of the crypto entrepreneur.”
He expects that legal proceedings will be related to similar machinations in the next one to two years.
This is an active case that is observed by the authorities. Previous scams such as Onecoin were camouflaged snowball systems disguised as cryptocurrencies. For the first time, organized crime has created a real Memecoin and used it for money laundering.
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