USB Stick With ETH Worth $9.5M Seized in a Crypto Scam

USB Stick With ETH Worth $9.5M Seized in a Crypto Scam

British Authorities caught all the international crypto scammers, seizing around $22.25 million. In between the detectives found a USB stick which was very evident among the other items. After the research the UK police found the USB stick contains a huge amount of Ethereum worth $9.5 million. Besides, the police reports another $12.7 million unclear crypto assets to be found. 

UK Police Detects Crypto in USB Stick

Moreover, the main reason to initiate this seizing process is because of the track of illegal crypto services. Notably, the illegal trading services were performed on the Binance Smart Chain. So, the evident record from the network helped the UK detectives to trace the scam. Besides, the scammers performed a smart play by cheating the users to maintain fraudulent accounts and fake trading operations. 

However, based on the frauds and money laundering reports the UK police arrested a 25-year-old female and 23-year-old male. Then on further investigations the couple were let free. Further, all the scammers were from the UK, US, Europe, China, Australia and Hong Kong. 

More so, with huge seizing amounts and fraudulent acts the entire British detectives were confused and facing a huge challenge. Also, the authorities are searching for the scammers to return back the stolen funds. 

According to the reports, the victims have shut down the website and have transferred the money to their personal accounts. As the money is dispersed around the world, authorities are having difficulty collecting all of the stolen cryptocurrencies. And as per the police, officials have begun their work to re-unite it with its rightful owners, while some remain unknown.

As a result, Detective Chief Inspector Joe Harrop advises users of these platforms to exercise caution. He claims that the platform still has security flaws, putting their savings at risk in the blink of an eye.

Early in July, the British Authorities seized £180 million worth digital currency in a money laundering suspicion. Moreover, the investigators shared that the criminal transfers were the main reason for these illegal funds. Even Scotland reports a crypto scam worth £114 million within the country. Thus, the entire UK police is now very active and alert in the cryptocurrency seizing activities. 

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A responsible HR Admin with good experience in an international pharmaceutical company. She is passionate about dedicating her time to share her perspective about crypto and blockchain technology.