Cryptocurrency criminals arrested in joint Police operation

The UK’s South West Regional Cyber Crime Unit (SW RCCU) in a joint operation with the Dutch police (Politie), Europol, Eurojust and the UK’s National Crime Agency (NCA) has arrested 6 individuals after a 14-month long investigation into a €24 million cryptocurrency theft.  The five men and one woman were arrested in simultaneous warrants on 25th June 2019, at their homes in the UK and the Netherlands.

The theft, which targeted users’ Bitcoin tokens, is believed to have affected at least 4,000 victims in 12 countries, with the numbers continuing to grow.

The investigation relates to typosquatting, where a well-known online cryptocurrency exchange was ‘spoofed’ – or recreated to imitate the genuine site – to gain access to victims’ Bitcoin wallets, stealing their funds and login details.

This case was referred to the European Cybercrime Centre (EC3) and the Joint Cybercrime Action Taskforce (J-CAT) hosted at Europol, after the British authorities identified possible suspects living in the Netherlands.  Operational support delivered by EC3 since February 2018 allowed the J-CAT to coordinate the international cooperation between the different EU Member States involved.

In addition, operational meetings were organised at Europol’s headquarters between the British and Dutch authorities, allowing for the smooth exchange of intelligence and evidence which led to these successful arrests.  A coordination meeting was also held at Eurojust to prepare for the action day.

Cryptocurrency crime is one of the issues focused on by the EAST Payments Task Force (EPTF).

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