{"id":36838,"date":"2021-02-22T16:07:11","date_gmt":"2021-02-22T14:07:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36838"},"modified":"2025-08-29T08:23:15","modified_gmt":"2025-08-29T05:23:15","slug":"sydney-man-arrested-over-4-3-million-bitcoin-laundering","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sydney-man-arrested-over-4-3-million-bitcoin-laundering\/","title":{"rendered":"Sydney man arrested over $4.3 million Bitcoin laundering"},"content":{"rendered":"<p>Australian authorities have charged a Sydney man suspected of money laundering via Bitcoin, the first cryptocurrency. This is stated in the <a href=\"https:\/\/www.police.nsw.gov.au\/news\/news_article?sq_content_src=%2BdXJsPWh0dHBzJTNBJTJGJTJGZWJpenByZC5wb2xpY2UubnN3Lmdvdi5hdSUyRm1lZGlhJTJGOTM5MTUuaHRtbCZhbGw9MQ%3D%3D\" target=\"_blank\" rel=\"nofollow noopener\">press release<\/a> from the New South Wales Police.<\/p>\n<p>The investigation ran from October 2020. On February 22, cybercrime officers arrested a 30-year-old man.<\/p>\n<p>According to investigators, he is linked to drug trafficking and a criminal gang. In his car police found two bags containing $1 million, and from his home they seized mobile phones, a laptop and a quantity of illegal drugs.<\/p>\n<blockquote>\n<p>The police will allege in court that this person headed a criminal organisation for money laundering through Bitcoin to a total of A$5.5 million ($4.3 million).<\/p>\n<\/blockquote>\n<p>The man was charged with money laundering and offences related to drug trafficking. Police said they expect further arrests in the coming weeks as part of the case.<\/p>\n<p>In 2019, Australian authorities and the local Securities and Investments Commission uncovered a gang involved in identity theft and laundering stolen funds through cryptocurrencies.<\/p>\n<p>In May 2020, authorities arrested a 52-year-old woman who ran an illegal exchange platform for trading cryptocurrency for fiat.<\/p>\n<p>In January 2021, the owner of the RG Coins cryptocurrency exchange, <a href=\"https:\/\/u1f987.com\/en\/news\/owner-of-rg-coins-bitcoin-exchange-sentenced-to-ten-years-in-prison-for-money-laundering-through-cryptocurrencies\">Rossen Iosifov<\/a> was sentenced to 121 months in prison for laundering about $5 million using digital assets.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian authorities charged a Sydney man suspected of money laundering via Bitcoin, the first cryptocurrency. This is stated in a press release from the New South Wales Police.<\/p>\n","protected":false},"author":1,"featured_media":36839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,1154,1444],"class_list":["post-36838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-crimes","tag-law-enforcement"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36838"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36838\/revisions"}],"predecessor-version":[{"id":36840,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36838\/revisions\/36840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36839"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}