Spanish police disclosed a scheme for using cryptomattes for money laundering

Spanish police disclosed a scheme for using cryptomattes for money laundering

Spanish law enforcement officers have uncovered a gang of criminals who used cryptomatics to transfer money to drug dealers.

According to
Bloomberg, the Spanish police uncovered a local gang that used cryptomattes to transfer more than 9 million euros to drug dealers in Colombia and other countries. Bloomberg quotes anonymous Spanish law enforcement officials claiming the group leased two devices belonging to trading platforms and installed them in their office in Madrid for the purpose of money laundering.

The office was disguised as a center for money transfers and cryptocurrency trading. The group reportedly used the center to transfer money from bank accounts to trading platforms to replenish cryptomattes with digital assets. Cryptocurrencies obtained in this way were then sent to the aforementioned drug dealers.

The police also confiscated two cryptomat, four hardware wallets and 20 online wallets. Bloomberg further notes that prosecutors are now trying to prove the connection between cryptomets and confiscated cryptoactive assets.

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The Mayor of the Canadian city of Vancouver, Kennedy Stewart (Kennedy Stewart) in June proposed
prohibit cryptomats in connection with the possibility of their use for money laundering.


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