NCA investigation finds cryptocurrency backed by Farage donor used to launder money for Russian war effort

Summary

British investigators (National Crime Agency) have spent four years investigating a multibillion-dollar cryptocurrency scheme that exchanges cash from UK drug and gun sales for crypto tokens designed to hide user identities. The scheme has enabled sanctions evasion and money laundering for organized crime and the Russian state, including support for Russia's war effort against Ukraine. The cryptocurrency involved is backed by a major donor to Nigel Farage. Tether tokens were found to be central to facilitating the scheme.

Source

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