Scammers Laundering Money Using Cryptos, Have Been Arrested In Latvia

The Latvian police detained a group of scammers who bought personal data of people on the Darknet and used it for illegal purposes. The criminals operated primarily on popular sites such as Ebay, PayPal, and Booking.com. In an official statement from the police, it is said that the criminal group operated from 2015 to 2020. Residents of Western Europe and the USA became the victims of the scammers.

As a result, more than 100,000 euros were seized in cryptocurrencies BTC, ETH, XRP, USDT, as well as cash, cars and real estate totaling $755,000. Now, the criminal group faces punishment of 3 to 12 years.

However, now there are some difficulties with the confiscation of cryptocurrency. At this stage, not all countries have a well-functioning digital currency regulation and not everywhere there is a proven mechanism for the withdrawal of digital assets, since their status is not spelled out in the law. Latvia is still on the list of such countries.

Image courtesy of Linkedin