The police conducted an operation against the network laundering money with cryptocurrency.

The Japanese police have carried out a significant operation in the world of cryptocurrency. An 18-member gang that laundered money using the cryptocurrency Monero was caught while conducting illegal transactions worth approximately 670,000 dollars. This successful operation is considered the beginning of a new era in the fight against digital crimes, resulting from the efforts of the Cyber Special Investigation Unit established in April.

18-Member Gang Laundering Money Using Monero Dismantled

The Japanese police have carried out a significant operation in the world of cryptocurrency. An 18-member gang that laundered money using the cryptocurrency Monero has been dismantled. As a result of the operation, it was revealed that approximately 670,000 dollars worth of dirty money was laundered.

This successful operation conducted by the Cyber Special Investigation Unit established in April is considered the beginning of a new era in the fight against digital crimes. The detailed technical analyses carried out by the unit played a key role in identifying the criminal organization by tracing Monero transactions.

As part of the operation, the leader of the organization, Yuta Kobayashi, was arrested. Kobayashi is reported to be tried for computer fraud and money laundering. Authorities emphasized that this operation is an important step in the fight against cryptocurrency crimes.

On the other hand, it appears that crimes related to cryptocurrency are not limited to the virtual realm. In an incident in Thailand, four Chinese suspects kidnapped a person and forced them to transfer 2 million dollars worth of cryptocurrency. A similar incident also occurred in Ukraine, where a Bitcoin owner was kidnapped and forced to pay a ransom.

Frauds in the cryptocurrency market are also reaching alarming levels. According to a report by Crystal Intelligence, a total of 19 billion dollars worth of cryptocurrency was stolen in 785 hacking and fraud incidents that occurred over the past 13 years.

In the first three months of 2024, the amount of cryptocurrency stolen increased by 42% compared to the same period last year, reaching 542.7 million dollars. This situation once again highlights the importance of cryptocurrency security.