For the first time in Japan’s crypto history, authorities have arrested a group of 18 scammers by tracking transactions involving Monero, a privacy-focused cryptocurrency. The group is accused of laundering approximately 100 million yen ($670,000) through Monero in a scam that has been under investigation since August.
The investigation analyzed around 900 Monero-based transactions linked to the criminal group. Yuta Kobayashi, the suspected leader, along with the other members, were charged with money laundering and computer fraud. This operation marks the first instance of Japanese law enforcement successfully tracing Monero transactions to catch criminals.
The arrests follow the creation of Japan’s Cyber Special Investigation Unit, which was formed in April to combat the rise in cybercrime across the country.
Summary Review: Japanese authorities arrested 18 scammers involved in a $670,000 money laundering operation using Monero. This is the first time Monero transactions have been traced to identify and catch criminals in Japan. The arrests were part of an investigation launched by the newly formed Cyber Special Investigation Unit aimed at tackling cybercrime.
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