Jail box – The bear market and the fall of Bitcoin does not only hurt our wallets! The current season deals a blow to embezzlement, with a series ofarrests related to cryptocurrencies!
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BTC thief arrested in the Netherlands
His identity has not yet been revealed, but the man was arrested last week by Dutch authorities.
Released on Tuesday, but still suspicious, the 39-year-old man allegedly laundered bitcoins stolen in large quantities. Arrested in the province of Utrecht, in Veenendaal, the scammer was seized at his home during a search.
The police allegedly seized all the recovered cash (presumably related to money laundering) and cryptocurrencies they could find.
The bitcoins laundered would come from a theft via a fake Electrum wallet. Known for its ease of use, Electrum is a big draw for beginners who want to hold their bitcoins in a desktop-friendly wallet. It is therefore relatively “easy” to create a fake wallet and have victims download it.
The total amount of bitcoins stolen and laundered has not been disclosed, but the suspect would have gone through Monero to ensure anonymization of its transactions, and would then have transformed part of its XMR back into Bitcoin.
The protocol used by Monero allows confidentiality in exchanges and above all a rather effective anonymity.
The investigators have not yet given information on the method used to trace the suspect, we will certainly learn more in the coming days.
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