From gritty backrooms in Kyiv to gleaming towers in Dubai, a parallel banking system turning crypto into cash operates in anonymity and ripe for abuse.
Crypto-to-cash operations enable anonymous wallets to cash out large sums without interacting with the mainstream banking system.
Richard Sanders, a leading expert on crypto-to-cash operations, explains that these networks permit large cash withdrawals from anonymous cryptocurrency wallets without touching traditional banks.
In Ukraine, Sanders works with the national police to monitor crypto-payments channeling funds to Russian operatives.
Inside the Crypto Underworld: How crypto-to-cash networks enable ‘unlimited’ crime
A look at anonymity-driven crypto-to-cash flows and law enforcement concerns
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