$29 Million in Bitcoin Seized From Dutch Dark Web Money Launderers

2020-10-27 23:29

The Rotterdam District Court in the Netherlands has seized 2,532 bitcoins (~$29 million) from a couple convicted of money laundering on dark web platforms.

According to a court statement, the man and his wife from the city of Hilversum, located in North Holland, were also sentenced to two years and two and a half years in prison, respectively, for money laundering.

The Dutch Public Prosecution Service successfully prosecuted the couple for laundering more than ˆ16 million ($18.9 million) over the course of two and half years after establishing that the source of the large bitcoin sum in their possession came from illegal dark web transactions.

Netherlands: Court seizes 25 million euros in bitcoins from two money launderers |#kortomnews #Netherlands #Bitcoin https://t.co/nr6oEJdqwd

— Kortom News (@VisionaryBv) October 26, 2020

Particulars of the Case

According to the court statement, two separate sums of 1,488 BTC and 1,044 BTC respectively were seized from the suspects, as well as ˆ250,000 ($295,256) in cash. In addition, both suspects were individually fined ˆ45,000 ($53,137) and forced to forfeit ˆ138,000 ($162,955) and $40,000.

The court established that the couple purchased bitcoin to exchange large euro sums in cash from private individuals and companies. These transactions were not disclosed to Dutch authorities and were made using methods to keep the customers anonymous.

The court explained that exchanges usually occurred at a fast-food restaurant in a big city, without any due diligence or KYC. This is typically advantageous for dark web criminals looking to swap their bitcoin for fiat without going through the usual checks of fiat-crypto exchanges.

“Traces of the Dark Web”

The court ruled that the acquired bitcoin bore hallmarks of dark web activity. Bitcoin use on the dark web has been linked to criminal activities like child pornography and murder-for-hire, and authorities often target these underground markets.

An excerpt from the court papers reads as follows:

“Traders did not ask customers for identity papers, while large amounts were often exchanged. The suspects, a man and his wife, came into contact with customers through advertisements on the Internet and a marketplace on the dark web. Much of the bitcoins traded bore traces of the dark web. The court has established that the suspects laundered more than 16 million euros in two and a half years.”

The post $29 Million in Bitcoin Seized From Dutch Dark Web Money Launderers appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Webcoin (WEB) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0020338 (-100%)

web money dark seized million two years

web money → Ðåçóëüòàòîâ: 126


Ôîòî:

Nevada man charged for allegedly running $11M Bitcoin Ponzi scheme

A man in the US has been charged for allegedly operating an $11 million Bitcoin Ponzi scheme. The US Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action yesterday, charging David Gilbert Saffron of Las Vegas, and Circle Society, Corp, with “fraudulent solicitation, misappropriation, and registration violations.

2019-10-17 14:34


Why Blockchain Startups Are Badly Lacking In Business Basics

From Bitcoin’s emergence on the deep web in 2008, to the ICO funding craze of 2017, the blockchain/crypto industry has experienced its fair share of ups and downs over the past ten years. Despite a dramatic influx of money and big ideas, the industry has also fallen prey to scams, pump-and-dump schemes, and spectacular price […] The post Why Blockchain Startups Are Badly Lacking In Business Basics appeared first on Crypto Briefing.

2019-10-3 17:38


Ôîòî:

IKEA just allowed an invoice to be paid via the Ethereum blockchain

IKEA Iceland has used Ethereum technology to settle an invoice with a local retailer, accepting paymentprogrammed on the Ethereum blockchain. “As the first company authorized to issue e-money on blockchains, we are delighted to demonstrate the benefits of blockchains for mainstream B2B transactions using a legal form of digital money,” said Monerium CEO Sveinn Valfells.

2019-10-2 16:33


Ôîòî:

Decentralized Web Hosting: Can You Really Earn Money Renting Your Disk Space?

Coinspeaker Decentralized Web Hosting: Can You Really Earn Money Renting Your Disk Space?In this post, we'll take an unbiased look at decentralized hosting. Is it really a faster, cheaper, more secure alternative to traditional web hosting? Or a futile exercise in decentralization?Decentralized Web Hosting: Can You Really Earn Money Renting Your Disk Space?

2019-9-21 12:10


Ôîòî:

Richard Stallman resigns from MIT following comments about Epstein’s victims

Free software advocate and computer scientist Richard Stallman has resigned from his position at MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL). The news comes just days after he made comments in an email conversation with others at the lab about the victims of billionaire and alleged sex trafficker Jeffrey Epstein, who had previously donated large sums of money to the university.

2019-9-17 07:39


Dark Market Hackers Are Selling $800 In Bitcoin For $10k Cash To Help Launder Money: Armor Research

Security experts and researchers have recently identified an ongoing trend of illicit and lucrative transactions involving BTC to cash transactions. The security experts provided a glimpse into what is taking place in the dark web after analyzing dozens of transactions posted and executed in various forums and marketplaces. The financial scammers are alleged to be […]

2019-9-14 17:28


Ôîòî:

UK committee condemns loot boxes (‘surprise mechanics’) as gambling

The UK Parliament’s Digital, Culture, Media and Sport Committee today released their conclusions from their investigation into addictive game mechanics. While the report is a long one not solely focused on games or loot boxes, the committee firmly condemns the use of such mechanics, in spite of attempts by gaming reps to spin them the other way.

2019-9-14 22:46


Ôîòî:

European Central Bank bigwig outlines why Facebook’s Libra isn’t real cryptocurrency

A representative of the European Central Bank (ECB) has slammed Facebook‘s quasi-cryptocurrency Libra, referring to its proposed ecosystem as a “siren call. ” Yves Mersch, Luxemborgian lawyer and ECB executive board member, even told attendees of the European System of Central Banks’ legal conference the Libra ecosystem will be “cartel-like.

2019-9-2 15:36