Dutch authorities have seized more than 25 million euros in
cryptocurrencies, including bitcoin and ether, from dozens of suspects
in criminal cases. “Cryptocurrencies are widely used as a means of
payment for various types of crime,” said the Netherlands’ Public
Prosecution Service.
Authorities in the Netherlands Seize More Than 25 Million Euros in Cryptocurrencies, Including Bitcoin and Ether
The Netherlands’ Public Prosecution Service announced last week that
it has seized more than 25 million euros ($28.6 million) in
cryptocurrencies in recent months in collaboration with two other
agencies.
The Fiscal Information and Investigation Service (FIOD), the National
Criminal Investigation Service (DLR), and the Public Prosecution
Service (OM) collaborated on various investigations in which the
emphasis was on seizing crypto wallets, the announcement details.
The FIOD is an agency of the government of the Netherlands
responsible for investigating financial crimes. The National Criminal
Investigation Service is part of the Dutch National Police Unit. The
Public Prosecution Service, also called Openbaar Ministerie, is the body
of public prosecutors in the Dutch criminal justice system.
The announcement states:
More than 25 million euros in cryptocurrencies such as bitcoin and ethereum have been seized from dozens of suspects.
Various crypto exchanges in the Netherlands and abroad cooperated
with the FIOD and the Public Prosecution Service when criminal
proceedings were levied. “They are obliged to do so under Dutch law,”
the OM explained, adding that their cooperation made it possible to
seize the content of various “crypto wallets managed by criminals with a
total value of more than 25 million euros.”
However, the authorities explained that the identity of the suspects
in an investigation is not always known. Some of the suspects are from
the Netherlands while others are foreign nationals. “They will be
transferred to the designated foreign authorities, subject to applicable
international agreements,” the OM explained.
The Public Prosecution Service also warned of crypto’s use as a means of payment for criminals, stating:
Possession and use of cryptocurrencies is legal but also
popular among criminals. The reason is that criminals perceive
cryptocurrencies as anonymous and they can be moved around the world
quickly. Cryptocurrencies are therefore widely used as a means of
payment for various types of crime.
The OM detailed that cryptocurrencies are used in cybercrime, such as
ransomware, and as a means of payment, such as to pay for hosting
services. “In addition, we increasingly encounter cryptocurrencies in
forms of crime such as drug and human trafficking, fraud, and tax
evasion.”
Furthermore, “The investigation also revealed that criminals
counteract unwanted exchange rates by converting cryptocurrencies into
so-called ‘stablecoins’ such as USDT. These are cryptocurrencies whose value are linked to the U.S. dollar,” the Public Prosecution Service noted.
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