Criminals are locked in battle with forensics firms tracking how "Treasure Men", privacy wallets, and gift cards are used to turn virtual hauls into hard cash.
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The rise of crypto laundries: how criminals cash out of bitcoin
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“They will literally leave bundles of cash somewhere for you to pick up,” said Dr Tom Robinson, chief scientist and co-founder of Elliptic, a group that tracks and analyses crypto transactions. “They bury it underground or hide it behind a bush, and they’ll tell you the coordinates. There’s a whole profession.” The Russian-language Hydra offers plenty of other ways for criminals to cash out of cryptocurrencies, including exchanging bitcoin for gift vouchers, prepaid debit cards or iTunes vouchers, for example.
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