Bitcoin Exchange Dismantled by French Police
The French Police have taken apart an illegal Bitcoin exchange assumed to be bestxchanger.com, which is currently “under maintenance.” Authorities confiscated 388 bitcoins worth nearly US$272,800. Two individuals were placed under investigation as they were suspected of operating a website that sold Bitcoins illegally to the users. A special branch of the French Armed Forces, the National Gendarmerie of France, announced in a recent press release that they made three arrests during various raids in Toulouse, Cannes, Nice, and Brussels. Those arrested are suspected of owning an illegal....
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In the first ever operation, French police have shut down an illegal Bitcoin exchange, and in the process seizing 328 “virtual currency units” worth around 200,00 Euros, or $272,800 at current exchange rates. According to Reuters, two people in the Riveria coastal cities of Cannes and Nice were placed under investigation Friday, under the suspicion they were running a website that illegally sold and lent Bitcoin to its users. In a raid that happened last week to one of the suspects residences, investigators seized a portfolio of Bitcoins, credit cards and computer hardware.
For the first time in European history, the French Police arrested three individuals suspected to run an illegal Bitcoin exchange. This marks the first bitcoins obtained by the French Government. In a recent press release, France's National Gendarmerie, a branch of the French Armed Forces, announced that they made three arrests during raids in Cannes, Nice, Toulouse and Brussels. The arrested people are suspected of running an illegal Bitcoin exchange. They were targeted due to the lack of certification from the ACPR, as outlined in a report: "The site used to trade without any approval of....
Police in France have reportedly closed the curtains on a bitcoin exchange they say was being run in violation of the law, Reuters reports. (In response to comments below, the name of the exchange is not immediately clear.) In total, authorities have seized about 388 bitcoins from the operation, worth $240,000 at the time of this writing, in a move that comes as global scrutiny on bitcoin and digital currencies is at an all-time high. According to Reuters, two individuals from the cities of Nice and Cannes in the French Riviera were put under a formal investigation as of Friday, and have....
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