British police seize $ 9.5 million worth of Ethereum found on Flash drive

Ethereum-the second largest cryptocurrency after bitcoin. While most crypto transactions are legal, many are also fraudulent. Criminals benefit from the anonymous and international nature of digital currencies. These crimes often include money laundering, terrorism, tax fraud and drug trafficking.

Security remains a widely discussed issue to remain in the crypto field. Recently, global security officials have been forced to intensify their efforts to detect cryptocurrency fraud. The UK was not set aside because British agencies restricted this illegal activity.

Reading on the subject / Ethereum (ETH) stabilizes above $ 3k, which could cause a new drop

British police have been active in confiscating cryptocurrency recently. Assistant Commissioner Graham Mcnulty said some criminals had switched to” more sophisticated methods ” of money laundering, such as using cryptocurrencies.

UK police seize Ethereum on USB drive

UK police recently seized $ 22.25 million worth of cryptocurrency from operators of an international cryptocurrency scam. This includes $ 9.5 million worth of Ethereum found on a USB drive. The police announced on its website:”a sum of $ 22.25 million (just over £ 16 million) was seized by specialist staff from Greater Manchester Police’s Economic Crime Control Division after it led to the discovery of USB drives containing a large amount of Ethereum.”

The victims of this scam are in the UK, the United States, Europe, China, Australia and Hong Kong. They have contributed money to what they see as an online savings and trading service using the Binance smart network, which records and records transactions made in cryptocurrencies, verifying their movements and values. “Cryptocurrency savings and trading services are becoming increasingly popular and projects that encourage people to invest significant amounts of money offer tokens that can then be sold at a profit,” Greater Manchester said.

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