According to the investigation report published yesterday by the popular Japanese newspaper The Mainichi Shimbun, Yakuza has been using cryptocurrencies in a large-scale money laundering scheme.
The source quoted by the Japanese newspaper revealed that one of the Yakuza gangs engaged the services of a Chinese broker who then was helping the criminals to launder their ill-gotten funds since 2016.
The Chinese intermediary has been converting criminal money into cryptocurrencies, mostly bitcoins and ethers. The funds were then being transferred to five or six exchange accounts including Russia’s Yobit and Britain’s HitBTC.
According to the surfaced Yakuza documents, the criminals managed to transfer ¥ 29 850 000 000 ($ 270 000 000) since June 2016. It is also noted in the report that most of these funds were earned through voice phishing and drug trafficking.