Dutch police have arrested the suspect in the Electrum wallet scam. – Latest News

Dutch police recently arrested a man suspected of laundering millions of euros using a malware related to Electrum. Dutch authorities have recently stepped up their crackdown on financial crimes related to cryptocurrencies. This latest arrest bears witness to the country’s surveillance effort.

Focus on Dutch police arrest

Dutch police announced the arrest of the criminal on its official website. According to the investigation, after stealing the amount of Bitcoin, he exchanged it several times for Monero and vice versa via decentralized exchange Bisq. Therefore, it is difficult to identify its fraudulent transactions without a thorough inspection.

However, a joint operation between local law enforcement and a central cybercrime team to monitor certain bitcoin transactions resulted in the 39-year-old being located. He was in the village of Veenendaal when he was arrested.

In his fraud, police believe he laundered tens of millions of euros worth of cryptocurrency. Authorities confiscated the money, searched his home and seized a “data carrier” to aid the ongoing investigation. Indeed, the person allegedly used fake cryptocurrency wallet updates Electrum. This is a wallet application BTC open source that allows users to manage their digital assets.

Dutch police said: “The funds were stolen after a phishing with a software Electrum malware pushed by malicious servers”.

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Cryptocurrencies are gaining popularity in Netherlands

Cryptocurrency scams are increasing in the country. This is partly due to a strong adoption of cryptocurrencies. HAS In this regard, it should be noted that 14% of Dutch households are exposed to cryptocurrencies. These figures were drawn by a survey conducted by the European Central Bank. As a result, the Netherlands ranks first in this statistic, ahead of countries such as Belgium, Germany, Italy, Spain and France.

Similar to other research, the ECB found that cryptocurrencies intrigue the wealthy part of the population more than people with lower incomes. Young, well-educated men make up the bulk of investors, the institution adds.

In order to curb money laundering, theEuropean Union recently adopted new measures to make it more difficult to anonymize when using crypto. Jurisdictions such as the UK and France are also looking to make it easier for the police to seize crypto assets during investigations.

Also read: BNB Chain partners with Google Cloud to support crypto startups.

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Dutch police have arrested the suspect in the Electrum wallet scam. – Latest News

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