The Dutch police arrested a 39-year-old man within the Netherlands on Sept. 6 for allegedly stealing Bitcoin price tens of hundreds of thousands of {dollars}, in accordance with a press release by Dutch authorities.
Upon the arrest, the police raided his house 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 the usage of malicious software program from the open-source Electrum pockets. In different phrases, he used a pretend 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 alternate Bisq to obfuscate the origin of the prison transactions throughout the course of.
Dutch police hint Bitcoin transactions
Monero claims to supply confidentiality and untraceable transactions. Nonetheless, transactions are publicly out there on the Bitcoin Blockchain community when transformed to Bitcoin.
Bisq is a decentralized alternate that enables customers to conduct peer-to-peer transactions to alternate Bitcoin for fiat currencies or different digital belongings whereas remaining nameless.
Joint investigations
The investigations are nonetheless ongoing, with the Dutch Police Cybercrime Staff of the Central Netherlands and the Cybercrime Staff of the Japanese Netherlands working collectively to convey the suspect to justice.
Ongoing efforts between the police, banks, and firms are additionally underway because the events alternate data and determine different potential suspects, in accordance with the authorities.