The UK’s National Crime Agency (NCA) has shut down a sophisticated network of “crypto-rich” individuals who were using cryptocurrencies to launder billions of dollars for organized crime, wealthy tycoons, and even spies. The NCA discovered a complex laundromat that allowed these networks to exchange cash for cryptocurrency across Europe, the Middle East, and South America. According to the agency, this illicit system enabled criminal organizations to move funds easily and anonymously, making it nearly impossible to track their financial activities.
Source: https://www.bloomberg.com/news/articles/2024-12-04/crypto-rich-russian-networks-moving-oligarch-billions-shut-down-by-uk