Dutch Police Arrest 10 Males for Bitcoin Cash Laundering
AMSTERDAM — Ten males suspected of utilizing Bitcoin to launder as much as 20 million euros ($22 million) of felony cash made out of on-line drug offers have been arrested within the Netherlands, Dutch prosecutors stated on Wednesday.
The lads, described as all of their 20s and with Dutch nationality, have been arrested on Tuesday in coordinated raids on 15 places across the nation, stated spokeswoman Valentine Hoen of the nation’s Fiscal Info and Investigation Service.
Prosecutors consider the lads laundered 15 million to twenty million euros ($sixteen-$22 million) for drug sellers who bought their wares at on-line marketplaces on the "Darkish Net" — web pages which are invisible to search engines like google and solely reachable utilizing specialised software program.
Bitcoin is the popular technique of cost on such websites as a result of it may be shortly transferred between customers in any nation with out utilizing a financial institution, making it troublesome to hint.
Hoen stated the precise drug sellers have been the topic of a unbroken investigation by the nation’s drug squad, though 15 kilograms (33 kilos) of chemical precursors for the manufacture of Ecstasy have been discovered within the raids.
A press release by prosecutors stated investigators seized luxurious automobiles, money, financial institution accounts and different items overseas together with an unknown quantity of Bitcoin in cooperation with officers in america, Australia, Lithuania and Morocco.
In response to an account in De Telegraaf newspaper, which was invited to witness the raids, the lads have been caught as a result of giant quantities of cash being often deposited into their financial institution accounts after which shortly withdrawn in money from ATMs.
In all greater than 250 regulation enforcement officers participated in Tuesday’s raids.
Hoen stated a decide in Rotterdam will rule on the suspects’ continued detention on Friday.