Crypto Blog
In a first for Japanese law enforcement, authorities have tracked and analyzed Monero transactions to arrest 18 alleged scammers.
The Cyber Special Investigation Unit of the National Police Agency and the Saitama Prefectural Police, along with other authorities, were able to trace the transactions and identify Kobayashi. The group’s operations involved listing fake products on the marketplace “Mercari” and completing 42 fraudulent transactions using stolen credit card information in June and July 2021, defrauding the platform of over 2.75 million yen, worth approximately $18,400.
Investigators believe the stolen credit card details were likely obtained through phishing scams via fake websites or emails. They also discovered that the group used anonymous communication apps and recruited members through illegal job listings on various social media platforms.Monero has faced increasing scrutiny from regulators worldwide due to its strong privacy features, which make it difficult to trace transactions and identify users.
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