Dutch authorities have seized greater than 25 million euros in cryptocurrencies, together with bitcoin and ether, from dozens of suspects in felony instances. “Cryptocurrencies are broadly used as a way of cost for varied sorts of crime,” mentioned the Netherlands’ Public Prosecution Service.
Authorities within the Netherlands Seize Extra Than 25 Million Euros in Cryptocurrencies, Together with Bitcoin and Ether
The Netherlands’ Public Prosecution Service introduced final week that it has seized greater than 25 million euros ($28.6 million) in cryptocurrencies in current months in collaboration with two different companies.
The Fiscal Data and Investigation Service (FIOD), the Nationwide Felony Investigation Service (DLR), and the Public Prosecution Service (OM) collaborated on varied investigations during which the emphasis was on seizing crypto wallets, the announcement particulars.
The FIOD is an company of the federal government of the Netherlands chargeable for investigating monetary crimes. The Nationwide Felony Investigation Service is a part of the Dutch Nationwide Police Unit. The Public Prosecution Service, additionally known as Openbaar Ministerie, is the physique of public prosecutors within the Dutch felony justice system.
The announcement states:
Greater than 25 million euros in cryptocurrencies similar to bitcoin and ethereum have been seized from dozens of suspects.
Varied crypto exchanges within the Netherlands and overseas cooperated with the FIOD and the Public Prosecution Service when felony proceedings had been levied. “They’re obliged to take action beneath Dutch legislation,” the OM defined, including that their cooperation made it doable to grab the content material of assorted “crypto wallets managed by criminals with a complete worth of greater than 25 million euros.”
Nonetheless, the authorities defined that the id of the suspects in an investigation is just not all the time identified. A number of the suspects are from the Netherlands whereas others are international nationals. “They are going to be transferred to the designated international authorities, topic to relevant worldwide agreements,” the OM defined.
The Public Prosecution Service additionally warned of crypto’s use as a way of cost for criminals, stating:
Possession and use of cryptocurrencies is authorized but additionally well-liked amongst criminals. The reason being that criminals understand cryptocurrencies as nameless and they are often moved around the globe shortly. Cryptocurrencies are due to this fact broadly used as a way of cost for varied sorts of crime.
The OM detailed that cryptocurrencies are utilized in cybercrime, similar to ransomware, and as a way of cost, similar to to pay for internet hosting companies. “As well as, we more and more encounter cryptocurrencies in types of crime similar to drug and human trafficking, fraud, and tax evasion.”
Moreover, “The investigation additionally revealed that criminals counteract undesirable trade charges by changing cryptocurrencies into so-called ‘stablecoins’ similar to USDT. These are cryptocurrencies whose worth are linked to the U.S. greenback,” the Public Prosecution Service famous.
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