YEREVAN (CoinChapter.com) — A UK drug gang created a meme coin to launder legal earnings, in keeping with a report by MailOnline revealed on April 22, 2025. The case is believed to be the primary time a British road gang has launched its personal cryptocurrency to scrub illicit cash.
As a substitute of utilizing mixers or privateness cash like Monero, the gang launched a meme coin designed to draw on-line consideration. Their plan was to advertise the token on social media, inflate its worth, and promote it for clear funds. They aimed to current the earnings as crypto revenue quite than drug gross sales.
The gang’s legal actions embody drug trafficking, extortion, smuggling of counterfeit items, and unlawful tobacco gross sales. The report didn’t title the gang or disclose the title of the token. Nonetheless, the scheme highlights the rising use of meme cash in cash laundering.
Knowledgeable Warns Meme Cash Simplify Prison Laundering
Gary Carroll from Claymore Advisory Group informed MailOnline that crypto has been a part of laundering networks for over a decade. However meme cash, he mentioned, make the method simpler.
“Even if the coin only rises by a small amount, they could still make a lot of money before selling out. Those profits will appear to be from crypto entrepreneurship rather than drugs,”
Carroll defined.
In accordance with him, the gang used on-line promotion instruments to extend token visibility. As soon as the price climbed, they cashed out the earnings. The important thing aim was to current the revenue as authorized, earned by cryptocurrency exercise. Carroll mentioned the tactic doesn’t require a lot technical ability, particularly with instruments that simplify coin launches.
The usage of social platforms like X allowed the gang to construct hype across the token with out revealing identities or sources of the funds.
Scams Crossed $500 Million in 2024, Report Says
Merkle Science launched a report in February 2025 exhibiting that meme coin scams value buyers greater than $500 million in 2024. The information lined rug pulls, pump-and-dump schemes, and faux token promotions.
In accordance with the report, 75% of those scams had been promoted on X , whereas 19% used YouTube. Psychological manipulation techniques made up 44% of the strategies used. These included pretend urgency, impersonation, and false guarantees.
Most scams befell on the Solana blockchain. Solana’s quick and low-cost construction, paired with platforms like pump.enjoyable, allowed criminals to launch tokens shortly. These platforms present easy templates for coin creation and itemizing. This removes the necessity for deep technical expertise, making meme coin scams accessible to non-technical customers, together with organized crime teams.
Launchpads Like Pump.enjoyable Linked to Rising Meme Coin Abuse
The gang reportedly used instruments like pump.enjoyable, a platform constructed on Solana. These platforms let customers create and record meme cash in minutes. As soon as created, the tokens might be promoted throughout social media to draw consumers.
Specialists famous that launchpads decrease the entry barrier for anybody, together with criminals. As soon as sufficient hype builds, the criminals promote the tokens for clear crypto like USDT or SOL and transfer the funds to personal wallets or exchanges.
Carroll mentioned this system might turn into extra widespread as a result of simplicity of the instruments concerned. Whereas UK regulation enforcement has not prosecuted such a case but, investigations into meme coin-related crime are prone to improve if the pattern continues.
The MailOnline report didn’t affirm whether or not any arrests had been made. Nonetheless, the case has drawn consideration to how crypto instruments and platforms are used for laundering by mid-level organized gangs within the UK.