Dutch police arrest suspected Bitcoin thief by tracing transactions on blockchain


Dutch Police Arrest Suspected Bitcoin Thief By Tracing Transactions On Blockchain

The Dutch police arrested a 39-year-old man within the Netherlands on Sept. 6 for allegedly stealing Bitcoin value tens of tens of millions of {dollars}, in line with an announcement by Dutch authorities.

Dutch Police Arrest Suspected Bitcoin Thief By Tracing Transactions On Blockchain

Upon the , the police raided his house and seized his information carriers and cryptocurrency earnings. He stays a suspect, and investigations into his alleged crimes are ongoing. The police held the unidentified man in Veenendaal and launched him on Sept. 8.

Dutch Police Arrest Suspected Bitcoin Thief By Tracing Transactions On Blockchain

To this point, investigations revealed that he laundered Bitcoin with using malicious software program from the open-source Electrum pockets. In different phrases, he used a faux model of the Electrum pockets to disguise his .

Dutch Police Arrest Suspected Bitcoin Thief By Tracing Transactions On Blockchain

As soon as secured, the stolen bitcoin was transformed to Monero (XMR) and vice versa. He additionally used the alternate Bisq to obfuscate the origin of the prison throughout the course of.

Dutch Police Arrest Suspected Bitcoin Thief By Tracing Transactions On Blockchain

Dutch police hint Bitcoin transactions

Monero claims to supply confidentiality and untraceable transactions. Nevertheless, transactions are publicly accessible on the Bitcoin Blockchain community when transformed to Bitcoin.

Dutch Police Arrest Suspected Bitcoin Thief By Tracing Transactions On Blockchain

Bisq is a  decentralized alternate that enables customers to conduct peer-to-peer transactions to alternate Bitcoin for fiat currencies or different digital property whereas remaining nameless.

Dutch Police Arrest Suspected Bitcoin Thief By Tracing Transactions On Blockchain

Joint investigations

The investigations are nonetheless ongoing, with the Dutch Police Cybercrime Workforce of the Central Netherlands and the Cybercrime Workforce of the Japanese Netherlands working collectively to deliver the suspect to justice.

Ongoing efforts between the police, banks, and firms are additionally underway because the events alternate info and determine different potential suspects, in line with the authorities.

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