A 39 year old Dutch man was arrested Wednesday for allegedly laundering tens of millions of Euros via cryptocurrencies, as part of larger push to crackdown on crypto-releated financial crimes in the Netherlands. The arrest stemmed from authorities tracing stolen Bitcoin from a software patch of the Electrum bitcoin wallet. Monero (XMR) was the primary crypto medium he used to attempt masking the source of funds, but was discovered through open ledger transactions eventually. This follows the scrutinized arrest of a Tornado Cash developer last month by Dutch police as well. More countries are stepping up the pursuit of finding scammers and crooks, which is a good thing for crypto as a whole.

As I've mentioned in posts before, I do believe in crypto privacy for the average individual, but not at the expense of someone's hard earned money being taken away from them through criminal activities, and laundering is on that list. Hoping this deters some of those thinking they'll get away with it, because chances are growing that they might not....

Written by: nikethereum.eth / Medium / Mirror