UK Criminal Syndicate Allegedly Introduced a Cryptocurrency for Money Laundering Operations
Meme Coin Mania: Britain's Criminal Gang Dance into Cryptocurrency
In the murky underworld of the UK, a notorious drug gang has kicked off a new trend, creating their very own meme coin, believed to be the nation's first for money laundering purposes.
Typically, nefarious operations rely on crypto mixers to launder their dirty cash with Bitcoin or Ethereum. But this gang's strategy involves crafting a humorous, viral meme coin to skyrocket in value.
Meme Money Laundering: A New Play in the Criminal Game
According to MailOnline, with this bold move, the gang becomes the first to officially launch a real meme coin for money laundering methods in the UK. The crew, operating at a mid-level, derives its income from extortion, fraud, drug trafficking, and peddling counterfeit goods, smuggled cigarettes, and more. Unfortunately, the name of the coin and the gang behind it remains under wraps.
Gary Carroll, a drug crime expert at Claymore Advisory Group, stated that criminals have been using cryptocurrency for money laundering for at least 15 years. Now, meme coins provide even easier ways for them to hide their tracks.
To inflate their coin's value, the gang intends to stir up online hype campaigns. Once the price rises, they'll unload and cash out, disguising the proceeds as legitimate crypto earnings, not drug sales.
"Even a small price hike can lead to significant profits," Carroll asserted, "before they sell out, those earnings will seem to come from crypto entrepreneurship rather than drugs."
Launchpads: Catapulting Cryptocurrency Crimes?
Though this may be the first recorded instance of gangs turning to meme coins, given the current ecosystem, it's not likely to be a once-off event. After all, launchpads have made it effortless to launch a meme coin and promote it on social media.
In 2025 alone, the market lost billions to meme coin scams and rug pulls, which naturally draws illicit actors and gangs. Launchpads offer a convenient channel for them to launder money.
Carroll foresees more instances of this happening in the UK, predicting, "It's a way to semi-legitimize their trade." According to Merkle Science's report published in February 2025, losses from meme coin scams and rug pulls amounted to over $500 million worldwide in 2024.
Most rug pulls took place on the Solana blockchain, where tools like pump.fun made it a breeze to launch and promote meme coins.
In conclusion, the illicit world continues to evolve, with criminals adapting to utilize meme coins for money laundering purposes. This innovative approach complicates regulatory efforts and underscores the need for enhanced vigilance and creative regulatory approaches to counter such adaptations.
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- The notorious UK drug gang's new trend involves creating a meme coin, believed to be the nation's first, for money laundering purposes, as reported by MailOnline.
- Gary Carroll, a drug crime expert at Claymore Advisory Group, stated that the gang's strategy of crafting a meme coin is another way for criminals to hide their tracks using cryptocurrencies.
- To inflate their coin's value, the gang plans to stir up online hype campaigns, with the intention of unloading and cashing out, disguising the proceeds as legitimate crypto earnings.
- Launchpads have made it easy for criminals to launch and promote meme coins, providing a convenient channel for money laundering, according to Carroll.
- In 2025 alone, the market lost billions to meme coin scams and rug pulls, making it a lucrative target for illicit actors and gangs, as indicated by Merkle Science's report.
- Most rug pulls took place on the Solana blockchain, where tools like pump.fun made it simple to launch and promote meme coins, contributing to the ease of money laundering activities.
- The evolving illicit world and criminal adaptations to utilize meme coins for money laundering purposes complicate regulatory efforts, highlighting the need for enhanced vigilance and creative regulatory approaches.
