Home Crypto News Dutch FIOD Officers Arrest Twister Money Developer

Dutch FIOD Officers Arrest Twister Money Developer

by Cryptoroz

Crypto mixer Twister Money is as soon as once more talked about amongst cash laundering allegations.

The Fiscal Info and Investigation Service (FIOD), answerable for investigating monetary crimes within the Netherlands, has arrested a 29-year-old developer suspected of involvement in a cash laundering scheme

In keeping with the announcement shared on August twelfth, the person has allegedly used Twister Money to “conceal prison monetary flows and facilitate cash laundering”.

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FIOD had joined forces with Monetary Superior Cyber Group (FACT), which by their investigation recognized that Twister Money was used to cover the funds retrieved from varied hacks and scams. In keeping with the announcement:

These included funds stolen by hacks by a gaggle believed to be related to North Korea. Twister Money began in 2019 and based on FACT, it has since achieved a turnover of at the least seven billion {dollars}.

The Netherland authorities highlighted that their investigation began again in June of 2022.  The FIOD doesn’t rule out the potential of a number of arrests associated to this case sooner or later. 

The official FIOD assertion notes that:

Investigations confirmed that at the least one billion {dollars} value of cryptocurrencies of prison origin handed by the mixer. It’s suspected that individuals behind this group have made large-scale earnings from these transactions.

Plainly this week could possibly be marked as one of many worst for Twister Money. On August eighth, the USA Treasury Division blacklisted 44 Twister Money addresses and positioned them on the record with theorists and drug sellers. Following this determination, many crypto-related corporations closed the doorways for Twister Money and the sanctioned addresses. 

On-line software program improvement firm GitHub was among the many first ones to limit entry to sanctioned Twister Money addresses. Afterward, stablecoin issuer Circle, blockchain developer platforms Alchemy, and Infura.io

Aaron S. - Expert Reviewer

by Aaron S. – Knowledgeable Reviewer, BitDegree

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