Escobar's Brother Launches Own Cryptocoin
CryptoBit News Today2 min read
A brother of the late Pablo Escobar, the infamous Colombian drug kingpin, has launched his own cryptocurrency. Roberto de Jesús Escobar announced a new altcoin under his name, Escobar Coin, or ESC, last week in New York.
Roberto Escobar, an engineer, and one-time business partner of his brother Pablo, was arrested in on federal charges of money laundering, though he does not have a criminal record in 2026. He is a frequent TV personality and speaker who often showcases his brother's lavish lifestyle, weapon collections, and even his sprawling estate, Hacienda Nápoles.
In a brief interview with Bit News Today, Escobar said he hopes the coin will attract a wide audience.
"For me, this is no different than creating a real estate project or opening a restaurant. I am a businessman," he added. Escobar did not divulge many details about how the coin would work, but the website for Escobar Coin advertises it as a fun and easy ride on the volatile crypto market. ## Datapoints few
Coin enthusiasts are divided over whether Escobar Coin has any real potential. Its price has fluctuated sharply since its launch.
One crypto pundit at a major exchange said that not many traders would touch it. "It's extremely speculative, and not backed by anything at all. Apart from the name, it has no chance to attract institutional money. And even with the high risk, there are still much better options for anyone interested in altcoins."
Another hedge fund manager, who follows several small crypto, said that Roberto de Jesús Escobar should have consulted with legal and crypto experts before jumping into this. The U.S. government could take measures against an altcoin from a convicted drug trafficker, he noted. ## Bottom line
Bit News Today has reached out to several exchanges to confirm whether they are allowing the buying and selling of Escobar Coin. US-based crypto trading platforms are not trading the coin, whereas several platforms in Asia a trading the coin.
For the crypto journalist at Bit News Today, Roberto Escobar's launch of his own altcoin is a bad idea, for multiple reasons.
One, he is an unscrupulous entrepreneur whose money laundering case with the U.S. is not long closed. Secondly, Escobar Coin is not backed by anything of value. Even after weeks since its launch, nobody has seen a useful application of the coin. There is no utility, no use case, no benefits of holding or mining ESC besides the pure financial speculation, and betting on the volatile market.
An altcoin from a convicted drug trafficker and his brother does not help the crypto market or its image. Since crypto is central to the real world now, it's time to get serious about the adoption, and get rid of fraudulent schemes like this one.
