Crypto-pimps making millions busted by bloke in baseball cap disguise

Crypto-pimps are raking in "millions" by teaching sex workers how to use digital currency, an investigation has revealed.

Journalist Ian Halperin, 58, went undercover to discover how people in the sex industry are being trained up to set up crypto-wallets and trade currency, as well as being taught about the different kinds of coins on offer, reports the Mirror.

To get the inside scoop for his latest book, Halperin travelled to the country of Georgia where he posed as a "real estate guy" from New York wearing "baseball caps with crazy logos" to fit in with the industry bosses he met.

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Halperin, originally from Canada, said: "They were telling me how they were making millions of dollars on the sex trade via crypto."

Halperin even found a "school", formerly known as StarModels, where adult workers could go on a three-week course to learn the crypto skills they needed to control their finances online as well as how to work with clients.

Women on the training course are told which cryptocurrencies are good and which are less useful and given help to set up a crypto-wallet where they can receive payment from customers.

Halperin even hired a sex worker to make sure the dodgy characters he met weren't just boasting.

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He said the woman arrived wearing "all designer clothes" and gave him a massage before offering him sex, which he turned down under the guise of being married.

“When it came to paying, she said: 'We don’t accept cash, crypto is the best way,' he recalled. "I transferred her the money. The sex trade is thriving, because of crypto.”

The crypto boom in the sex industry comes as both lawmakers and payment apps across the globe have been tightening restrictions in a bid to clamp down on sex work.

The online currencies appear to offer a safer way for adult workers to receive payment – but can leave them vulnerable to exploitation.

Halperin added: "There’s all these entrepreneurs profiting on the Ukraine war. They’re bringing these innocent girls and training them to be high-end escorts.

"The truth is the agency takes a ridiculous amount and leaves the women with little."

Ian Halperin's latest book, titled 'Crypto Boy: Inside The Success, Sex, Dirty Money, Murder & Wild World of The Blockchain', is available exclusively on all Amazon sites.

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