Bitcoin money laundering ring crushed

In the Netherlands ten suspects were arrested, the native of online drug trade Bitcoins are said to have washed. The message, according to the authorities found in several Dutch cities raids instead. Overall, the ring should have funneled money 15-20 million euros, reports the newspaper De Telegraaf.

Besides Bitcoins, cash and bank accounts in several unnamed sum also luxury sedans and raw materials for ecstasy manufacture were confiscated. The Dutch police had apparently because of suspicious account activity get notes from banks: How should large sum deposited in different accounts and have been lifted shortly thereafter bar at the machine again. On the tip was followed by an investigation with assistance from police authorities of the United States, Morocco, Lithuania and Australia.

The authorities assume that the money laundering of profits from drug trafficking so-called “darknet” marketplaces took place, so only about anonymization services reach platforms. Crypto money is there normally the cash. Concrete marketplaces, was washed for which authorities did not name, nor, as the suspects are said to have exchanged the Bitcoins in normal money.

Even if Bitcoin is often brought in connection with money laundering, the crypto money for it is not so well suited such as normal cash. Useful it is rather for the fast transfer of value away vigilant authorities. While acting Bitcoin user under the pseudonym their Bitcoin addresses – but all transactions are publicly available in the accounting file block chain. Cash flows would then be additionally veiled by so-called mixing services.

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