An international cryptocurrency cartel was lifted by joint investigations between US and foreign authorities.
The US Department of Justice (DOJ) announced last week that it has indicted 20 people, including 16 foreigners, an International Organized Crime Syndicate, cheating millions of dollars on American citizens.
"The defendants allegedly organized a highly organized and sophisticated system to steal money from unsuspecting victims in America and then use cryptocurrency to launder their money," said Attorney General Benczkowski in the DOJ statement.
According to the statement, the criminal conspiracy had cheated Americans by listing products ̵
This scam seems to be more credible, the scammers had help from US residents. After the victims were persuaded to pay, money was sent to the US-based staff, who then converted the money into cryptocurrency before being passed on to their predominantly Romanian counterparts.
The scammers often claimed to be US military personnel who needed to sell the item quickly when they were in action to persuade their unfortunate victims.
"This persecution stems from a multi-year investigation in Kentucky, initiated by US intelligence in collaboration with several local authorities, federal and international prosecution partners," US attorney Duncan said in the DOJ statement.
Of the accused non-Americans, 12 have been extradited to the US and are currently awaiting trials to take place later
Of course, cryptocurrency has not necessarily capitalized on money laundering, but it has certainly created a quick and easy-to-use option for scammers One that allows fraudsters to send "dirty" money all over the world, much faster than traditional laughing methods would ever allow.
As intelligence director Randolph "Tex" said everything, "
" D This is a joint gain for law enforcement around the world. I want to thank the more than a dozen law enforcement agencies around the world who helped us investigate this case, and each of them played a crucial role in their success. "
Maybe this is a sign of what's coming. In a world of decentralized technologies, it is becoming increasingly easier for criminals to carry out international scams. If the authorities want to catch these criminals, they certainly need to keep working together.
Published February 11, 2019 – 14:00 UTC