AirBit Club: A Model of Transnational Cryptocurrency Fraud and the Use of Blockchain Infrastructure to Circumvent Regulatory and Sanctions Regimes
This report analyzes the AirBit Club case as a representative model of transnational cryptocurrency fraud combining elements of Ponzi schemes, MLM structures, and blockchain-based payment infrastructure. It demonstrates how digital assets—particularly stablecoins—were used not for transparency, but to obscure financial flows, beneficiaries, and cross-border operations. The report highlights structural gaps in international regulation and enforcement, emphasizing the broader political and economic implications of crypto-related financial crimes.
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