All the commenters acting incredulous about this only need to Google it.
https://www.mintpressnews.com/bellingcat-intelligence-agenci...
https://thegrayzone.com/2021/10/09/bellingcat-intelligence-c...
I think what a lot of people don't really grok about intelligence types is how similar their internal cultures are to gangs and mafias: it's blood in, blood out, and even if you "leave" you've never actually left. This makes sense, right? These people are vetted to be given security clearances, to be trusted with secrets -- what good would it do if the secret keeping only lasted through a term of employment? Once you know the secret, you've gotta keep it forever. So you'll always be one of us.
Maybe the less melodramatic comparison to make is to US college and university fraternities: just because you graduate doesn't mean you're not a Delta Tau guy anymore. If anything, the opposite: you're now out there in the world as a real Delta Tau guy, and when you see another member, it's a wink and a handshake and a favor. Doesn't have to be all that secret, either.
So, a "former intelligence professional" who goes to work for a "citizen journalism" website like Bellingcat remains, and cannot be anything other than, a spy. It doesn't need to be the case that, for Bellingcat to be an intelligence front, the CIA literally went on Legalzoom and started the LLC or whatever.
As for Bellingcat itself, well, if it's funded by ducks, and it's staffed by ducks, maybe it's a duck.