Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Japan arrests criminal gang using Monero to launder money, involving more than 100 million yen

Japan arrests criminal gang using Monero to launder money, involving more than 100 million yen

CointimeCointime2024/10/21 09:45
By:Cointime

as of October 21, the Japanese National Police Agency's Cyber ​​Special Search Department and a joint special envoy team composed of nine prefectural police departments, including Saitama Prefecture Police, arrested 26-year-old Yuta Kobayashi, whose address and occupation are unknown, for allegedly using computers to commit fraud. Kobayashi is believed to be the leader of the gang, and the estimated loss is more than 100 million yen ($667,100).

The gang abused the highly secretive virtual currency Monero in an attempt to launder money, and identified Kobayashi's identity by tracking the flow of funds. According to the police department, this is the first time that Japan has analyzed Monero and identified a suspect.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Crypto Flow Technology Secures HK$11.6M for On-Chain Analytics

Crypto Flow Technology raises HK$11.6M to develop an on-chain data analysis platform and DEX aggregator.Crypto Flow Technology Expands into On-Chain AnalyticsEnhancing Blockchain Data AnalysisDEX Aggregator for Efficient TradingA Strategic Move for DeFi Innovation

Coinomedia2025/03/02 19:55

Top Crypto Assets: Why Theta Missed the Mark and How Qubetics is Shaping the Future of Crypto

The world of cryptocurrency is buzzing louder than ever as 2025 continues to unfoldTheta: The Missed OpportunityQubetics: The Future of Interoperability in CryptoConclusion: Don’t Miss Out on Qubetics’ Presale

Coinomedia2025/03/02 19:55