Part 2/10:
To grasp the complexities of modern-day crypto laundering, one must travel back to the 1980s in Colombia and the infamous figure of Pablo Escobar. As the head of one of the largest drug cartels in history, Escobar generated a staggering $420 million weekly at the zenith of his operation, a wealth that proved burdensome due to his relentless cash problem. With an estimated $2 billion written off annually due to losses or damages, he sought methods to legitimize his income. This led Escobar to establish various legitimate businesses, from a jet service to jewelry stores, effectively laundering his illicit gains.