Cyber Criminals Launder Billions with Bitcoin, In-game Loot

Research sponsored by Bromium and conducted at Surrey University reports that cyber criminals increasingly launder large volumes of illicit proceeds using cryptocurrencies (Bitcoin, Monero) and in-game/virtual currencies for popular online games; the study estimates $80–$200 billion laundered annually across traditional methods (mules, shell companies, casinos, money transfers) and newer mechanisms such as micro-payments, crypto exchanges, and conversion of virtual assets into real property, stressing that the proliferation of virtual platforms is outpacing law enforcement capabilities.