Dutch police arrest suspected Bitcoin thief by tracing transactions on blockchain

The Dutch constabulary arrested a 39-year-old antheral successful the Netherlands connected Sept. 6 for allegedly stealing Bitcoin worthy tens of millions of dollars, according to a statement by Dutch authorities.

Upon the arrest, the constabulary raided his location and seized his information carriers and cryptocurrency profits. He remains a suspect, and investigations into his alleged crimes are ongoing. The constabulary held the unidentified antheral successful Veenendaal and released him connected Sept. 8.

So far, investigations revealed that helium laundered Bitcoin with the usage of malicious bundle from the open-source Electrum wallet. In different words, helium utilized a fake mentation of the Electrum wallet to disguise his transactions.

Once secured, the stolen bitcoin was converted to Monero (XMR) and vice versa. He besides utilized the crypto speech Bisq to obfuscate the root of the transgression transactions during the process.

Dutch constabulary hint Bitcoin transactions

Monero claims to connection confidentiality and untraceable transactions. However, transactions are publically disposable connected the Bitcoin Blockchain web erstwhile converted to Bitcoin.

Bisq is a  decentralized speech that allows users to behaviour peer-to-peer transactions to speech Bitcoin for fiat currencies oregon different integer assets portion remaining anonymous.

Joint investigations

The investigations are inactive ongoing, with the Dutch Police Cybercrime Team of the Central Netherlands and the Cybercrime Team of the Eastern Netherlands moving unneurotic to bring the fishy to justice.

Ongoing efforts betwixt the police, banks, and companies are besides underway arsenic the parties speech accusation and place different imaginable suspects, according to the authorities.

The station Dutch constabulary apprehension suspected Bitcoin thief by tracing transactions connected blockchain appeared archetypal connected CryptoSlate.