Police Return Funds Seized from Bitcoin Trader
A bitcoin trader in Scotland has had thousands of pounds returned to him after they were seized by police during a money laundering investigation in May. According to Herald Scotland, Max Flores' money was returned to him last month, following his solicitor's appeal. The trader - who is unsure as to whether the seizure will have a negative effect on his credit rating - estimates he lost approximately £1,200 of his original £5,500 in legal fees. Laura Irvine, an associate at bto solicitors, told the Herald that her customers' money had been seized under the Proceeds of Crime Act 2002, which....
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British detectives have seized $22.25 million from operators of an international cryptocurrency scam. Among the items seized was a USB stick containing ethereum worth $9.5 million. The police are now attempting to contact the victims of this scam to return their funds. UK Police Seize Crypto in USB Stick The U.K.’s Greater Manchester Police announced Wednesday that its Economic Crime Unit has seized a USB stick containing “huge amounts of ethereum, the second largest crypto currency after bitcoin.” The USB stick was discovered after the police arrested a 23-year-old male....
U.K. police have revealed how much cryptocurrency they have seized in the past five years in response to Freedom of Information requests. The London Metropolitan Police seized more bitcoins than other police boroughs.
UK Police Reveal Information About Seized Crypto
Twelve of the U.K.’s 43 police forces have seized cryptocurrency worth approximately £322 million ($435 million) in criminal investigations in the last five years, New Scientist reported Thursday, citing Freedom of Information (FOI) requests it submitted.
Bitcoin made up 99.9% of the....
A bitcoin trader has been complaining about how he had thousands of pounds of cash seized under legislation that is usually used to target drug dealers. Back in May, Max Flores a 27-year-old Bitcoin trader from Glasgow saw his Bank account frozen. He was then informed the account was being closed and was scheduled to come and collect his funds. Max went on to retrieve his funds and to understand what was happening but when he got there, he was stopped by the Scottish police who told him it was seizing his cash under proceedings of crime legislation. Max Flores commented: "The bank only....
The U.K. police have returned over $5.4 million to victims of an international cryptocurrency scam. The police say that almost $10 million more will be returned to victims. So far, 127 more people have filed a claim to recoup their investments.
Police Return Funds to Crypto Scam Victims
The U.K.’s Greater Manchester Police (GMP) announced Friday that about $5.4 million of the funds seized from an international cryptocurrency scam rumbled by its police officers in July last year have been returned to rightful owners. The announcement details:
Over four million pounds....
Spanish police have seized six bitcoin mines that were allegedly in use by a criminal network involved in the illegal distribution of pay-TV channels in Spain. A joint investigation by the Spanish National Police and Tax Authorities with the support of Europol and local German police saw the crackdown of a criminal network making proceeds from the illegal distribution of pay-TV channels in Spain, Reuters reported. The bitcoin mines were put together to launder the proceeds of the illegal pay-TV distribution scheme, allegedly. Spanish police also revealed that the mining operation was....