Money laundering: Arrest in Oxford over €10 million cryptocurrency theft
30 Jan 2019

A man has been arrested over allegations of fraud and money laundering at an address in Oxford, UK, following the theft of around €10 million in the IOTA cryptocurrency from over 85 victims worldwide since January 2018.

An investigation was launched after police in Hessen, Germany, received reports from members of the public of money being stolen from their cryptocurrency wallets.

Further investigations revealed fraudulent activity had occurred on an IOTA website, targeting the users of the IOTA cryptocurrency.

In July 2018, German authorities identified a possible suspect behind the fraud case living in the UK. The case was handed to the Joint Cybercrime Action Taskforce (J-CAT) hosted at Europol, where analytical support facilitated the international cooperation between the EU member states involved.

A meeting was held between German and British investigators and a Europol unit, which ‘proved to be an invaluable asset’ for the exchange of intelligence and evidence between the authorities, and which led to the arrest, Europol said.

The 36 year-old individual was arrested on suspicion of fraud, theft and money laundering.

Advance your CPD minutes for reading this article, by signing up and using the CPD Wallet

FREE CPD Wallet
No Responses to “Money laundering: Arrest in Oxford over €10 million cryptocurrency theft”

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.