A 36-year old man who was suspected of theft of more than $11 million worth of IOTA was successfully brought to justice with international police collaboration according to a statement from Europol coming into our crypto news today.
The individual was also a suspect in a fraud and money laundering actions and was reportedly arrested by the United Kingdom’s South East Regional Organized Crime Unit with the help of the Hessen State Police in Germany. Other agencies such as the UK National Crime agency and Europol were included in the arrest for which they followed a search warrant that was carried out in Oxford, UK.
The operation to track down and arrest the criminal was launched after the $11 million worth of IOTA happened, attacking more than 85 people since January 2018. In early 2018, according to Europol, the investigation started way back in January 2018 after the Hessen police received reports of stolen funds from multiple crypto wallets.
The 36-year old who got arrested used a malicious IOTA seed generator and hosted it on the iotaseed.io domain where he was able to generate seeds for users that will make them use private keys which he controls. The German prosecutors in July 2018 identified the man who was living in the UK at that time as a possible suspect for fraud.
Since the ring around regulation is tithing up, a Chinese user, for example, used the crypto exchange ZB.com and said that the exchange reported him to the police for earning nearly $30,000 in just two days.
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