• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
Illicit Betting With Cryptocurrency
Advertisement

Europol Takes Down Major Bitcoin Money Laundering Network

Adam James by Adam James
5 years ago
in News, Altcoin News, Bitcoin, News teaser
0
Advertisement

European law enforcement agency Europol has taken down a criminal network allegedly using cryptocurrency to launder drug money.


Tulipan Blanca

On Monday, the European Union Agency for Law Enforcement Cooperation (Europol) announced that it had arrested 11 people and identified 137 suspects potentially involved in a criminal network utilizing cryptocurrencies and credit cards to launder money from illegal drug sales.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

According to reports, Europol’s operation has been named Tulipan Blanca was carried out by the Spanish security forces, which received additional support from Finland and the US Homeland Security Department. Stated Europol:

As a result of the operation the Spanish Guardia Civil carried out eight searches and seized several computers, devices and the equipment used to commit the crimes, such as money bags or money counting machines … The investigation shows that the suspects deposited more than EUR 8 million in cash using 174 bank accounts.

Europol

Europol also claimed that its investigation revealed that the alleged criminals used bitcoin to launder money, citing its increased difficulty in terms of tracking funds. However, bitcoin is actually fairly easily tracked compared to other, privacy-focused digital currencies like Monero — and Europol had little difficulty acquiring all the information it needed. Noted the agency:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The police officers were able to find that the local bitcoin exchange was based in Finland and gathered all the information on the suspects held by the cryptocurrency exchange. The criminals used the exchange to convert their illicit proceeds into bitcoins, then change the cryptocurrency into Colombian pesos and deposit it into Colombian bank accounts on the same day.

The successful carrying out of Tulipan Blanca illustrates Europol’s continued effort to eradicate the use of cryptocurrencies for illegal activities. According to the agency, three to four billion pounds ($4.1 to $5.5 billion) of criminal money is currently being laundered using cryptocurrency in Europe alone.

Monero-mining app removed from Mac store

Europol’s job may get tougher, however, as more individuals looking to utilize cryptocurrencies for illegal activities are shying away from the not-particularly-private bitcoin and, instead, turning to more privacy-focused, anonymizing cryptocurrencies like Monero, ZCash, and Dash.

What do you think of Europol’s continued crackdown on the use of cryptocurrencies for illegal activities? Let us know in the comments below!


Images courtesy of Shutterstock, AdobeStock, Europol

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Adam James

Adam James

Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

Related Posts

tulip mania bitcoin

Celebrating The Tulip Mania Anniversary With Bitcoin & Crypto

9 hours ago
Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

13 hours ago
Bitcoin

Why Bitcoin Is Among ‘Hottest Subjects’ On Earth, According To ‘Rich Dad’ R. Kiyosaki

15 hours ago
Bitcoin BTC BTCUSDT

Ralio Dalio Praises Bitcoin For 12 Years Of History, But Issues Warning

1 day ago
Bitcoin Mining

Bitcoin Mining Could Help Scale Solar Power, Report Reveals

1 day ago
Bitcoin Inches Closer To $24K As Fed Bares ‘Disinflationary Process’

Bitcoin Inches Closer To $24K As Fed Bares ‘Disinflationary Process’

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • The Three Best Cheap Cryptos To Buy Now – Snowfall...

    17 hours ago
  • Could Big Eyes Coin Bring Warmth To The Long Winter? How...

    17 hours ago
  • Cryptocurrencies That Connect With Their Community...

    17 hours ago
  • Rivalry Between Dogecoin and Shiba Inu Escalates as Big...

    17 hours ago
  • Get Rich While Gaming: RankerDAO Offers Unlimited Potential...

    20 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.