Money launderers use crypto to clean stolen cash

According to the report, the main challenge for criminals in the wake of a fiat cyber heist is ensuring that ill-gotten gains are clean—making it difficult to tell those assets were from the proceeds of a crime. But the authors also found evidence of a “significant cybercrime group” converting cash obtained from ATM thefts into cryptocurrency, indicating that digital assets are being used to muddy the waters at a later stage.