INCA DIGITAL
23.1136° N · 82.3666° W
FULL FORCE CRYPTO INTELLIGENCE
ON <> OFF CHAIN
NOTHING ESCAPES INCA
AUGUST 2026 … • … ISSUE 03 … • … CUBAN LINKS
◉ BRIEFING
5 SEC
Half of Habanos S.A. — the company making virtually every Cuban cigar on earth — sold in 2020 for $1.17 billion to unnamed “Asian investors.” Among them, one name stands out: Chen Zhi, chairman of Prince Group, Southeast Asia's pig-butchering empire.
Good morning,
Every box of Cohibas now pays a dividend to a pig-butchering kingpin. That should have been front-page news. It wasn't.
Dirty money wants assets. It hunts for jurisdictions the way burglars pick houses: no lights, no cameras, no neighbors.
Cuba is that house.
No Mercy,
Adam Zarazinski
CEO, Inca Digital
BACKSTORY
CUBA : THE ISLAND WITH NO LEDGER
01 / 04
01 — DEAD PESO.
A broke government doesn't vet its investors. We do.
02 — ANON ECON.
Cuba's financial system is very informal: WhatsApp trading desks, USDT on TRON as the reserve currency.
03 — PAPERS.
The central bank licenses just ten companies to touch crypto: IT shops. A restaurant. A trucking company. Meanwhile QvaPay, unlicensed, like every platform Cubans actually use, moved ~$34.26M across 104,075 transactions — orders of magnitude more than all licensed businesses combined.
04 — THE VANISHING.
Crypto settles on-chain. Pesos settle off it, through Transfermóvil and EnZona, Cuba's state-run mobile payment apps, or cash stuffed in a bag, passed on.
WHERE THE TRAIL ENDS · ONE TRADE, THREE LEGS
▌ USDT ON TRON ON-CHAIN · TRACEABLE
▌ P2P MATCH WHATSAPP DESK · REPUTATION-SCORED
▌ PESO CASH-OUT ✕ SIGNAL LOST
A trail that dies by design. Perfect for hiding a name. Almost.
BREAKDOWN
CUBAN LINKS TO A CRIMINAL EMPIRE
02 / 04
BACKHANDED
WHAT THE INCAS LINKED
03 / 04
READ THE RECEIPTS
◦ CROSS-REFERENCING DATA
Swedish case files × Hong Kong registries × LEI records.
◦ CHAIN HUNTING ON <> OFF
Corporate archaeology + wallet clustering across TRON, BSC.
◦ COMMUNICATING THE INTEL
Commands, districts, and departments with Cuba and the Cuban economy — sent the intelligence report (and now, you).
INCA IRL
INSIDE INCA DIGITAL
04 / 04
STORIES
Mekong Independent: Inside My Casino: forced-labor scams, tycoon Li Kuong, and impunity at the top.
The Economist: A real but selective crackdown on Cambodia's scam industry; Cambodia's $19bn scam economy, one extradited tycoon, and impunity for everyone above him.
SEE US
IWE NEXUS Summit. August 21. Payson, Utah.
43rd Symposium on Economic Crime. August 26. Cambridge.
Global Anti-Scam Summit America. September 2. San Francisco.
NEW TO THE TEAM
Dan Forbes, Lead, Corporate Financial Investigations.
Eddy Mendivil, AACE (Advanced Analytics Crypto Expert).
Lindsay Bryda, AACE (Advanced Analytics Crypto Expert).
Bill 'Poser' Woodward, Vice President, Global Public Sector.
1 All figures are Inca Digital reporting; most recent estimates based on currently available public and proprietary sources, including third-party case records. Actual values may differ due to updates in underlying data and disclosures.