How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York

Inside a $30 Million Cash-for-Bitcoin Laundering Ring in New York
Description: In this video, we discuss the recent investigation by the FBI into a $30 million illicit cryptocurrency exchange business in New York. Five Indian Americans are accused of operating this Bitcoin exchange deftly and skillfully while dodging legal scrutiny. The investigation revealed that every law was broken in this multi-million dollar Cash-for-Bitcoin fraud. Despite the existence of legitimate online exchanges like Coinbase, a criminal network was involved in the cash-laundering of digital currencies like Bitcoin. The court files contain evidence of a scene where guys meet on street corners with bags stuffed full of cash. The FBI discovered the scheme when they came across a merchant on dark web markets promising to swap Bitcoin for cash via the U.S. Postal Service. Following the trail, someone was apprehended in February who served as a go-between for the gang, mailing cash parcels from a Westchester County, New York, post office. Watch the video to learn more about this illicit Bitcoin exchange and the ongoing investigation.