The Dutch police arrested a 39-year-old man within the Netherlands on Sept. 6 for allegedly stealing Bitcoin price tens of thousands and thousands of {dollars}, in accordance with an announcement by Dutch authorities.
Upon the arrest, the police raided his residence and seized his information carriers and cryptocurrency income. He stays a suspect, and investigations into his alleged crimes are ongoing. The police held the unidentified man in Veenendaal and launched him on Sept. 8.
To this point, investigations revealed that he laundered Bitcoin with using malicious software program from the open-source Electrum pockets. In different phrases, he used a faux model of the Electrum pockets to disguise his transactions.
As soon as secured, the stolen bitcoin was transformed to Monero (XMR) and vice versa. He additionally used the crypto trade Bisq to obfuscate the origin of the felony transactions through the course of.
Dutch police hint Bitcoin transactions
Monero claims to supply confidentiality and untraceable transactions. Nevertheless, transactions are publicly accessible on the Bitcoin Blockchain community when transformed to Bitcoin.
Bisq is a decentralized trade that permits customers to conduct peer-to-peer transactions to trade Bitcoin for fiat currencies or different digital belongings whereas remaining nameless.
Joint investigations
The investigations are nonetheless ongoing, with the Dutch Police Cybercrime Group of the Central Netherlands and the Cybercrime Group of the Japanese Netherlands working collectively to deliver the suspect to justice.
Ongoing efforts between the police, banks, and firms are additionally underway because the events trade info and determine different potential suspects, in accordance with the authorities.