Spanish police arrest Bitcoin launderers in international credit card fraud case

Spanish police arrest Bitcoin launderers in international credit card fraud case 1

Spanish police have arrested 35 people allegedly involved in an international counterfeit bank card ring which laundered its profits using Bitcoin.

Criminals made more than $675,855 (600,000) and laundered more than $891,250 (€1,000,000), according to local media reports.

Most of those arrested hailed from Spain, Nigeria, Cameroon, Morocco, and Equatorial Guinea.

The criminals defrauded 210 victims in Spain, and a further 20 in Israel, Denmark, Germany, France, and Greece.

Coinbase 3

Spain’s Civil Guard – the force leading the investigation – says it’s detected 104 fraudulent cards made in Spain and other 12 countries.

The investigation was sparked after a car rental company in Alicante (Spain) reported the use of a fraudulent card.

Fraudsters resorted to the widely used phishing method to gain victims’ credit card details and credentials.

They also used skimming to copy cards’ magnetic strips in a bid to clone them. Finally, they resorted to the ‘Bin attack fraud’ method whereby they generated new card numbers based on the existing card number.

Counterfeit cards were used to pay for hotels, flights, train tickets, rental cars, and technology equipment.

Some of the arrested individuals were tasked with laundering the funds into Bitcoins through several unnamed companies based in Finland, Estonia, and the UK.

The money was also laundered in the US, Equatorial Guinea, and Benin using money transfer services.

Published June 14, 2019 — 09:51 UTC

Spanish police arrest Bitcoin launderers in international credit card fraud case 2
blank
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 39,075.00
ethereum
Ethereum (ETH) $ 2,621.52
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 329.83
cardano
Cardano (ADA) $ 1.36
xrp
XRP (XRP) $ 0.719950
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.198784
polkadot
Polkadot (DOT) $ 18.45
binance-usd
Binance USD (BUSD) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 39,075.00
ethereumEthereum (ETH)
$ 2,621.52
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 539.32
litecoinLitecoin (LTC)
$ 141.44
bitcoinBitcoin (BTC)
32.884,50
ethereumEthereum (ETH)
2.206,20
tetherTether (USDT)
0,841574
bitcoin-cashBitcoin Cash (BCH)
453,88
litecoinLitecoin (LTC)
119,03
bitcoinBitcoin (BTC)
28,124.43
ethereumEthereum (ETH)
1,886.85
tetherTether (USDT)
0.719755
bitcoin-cashBitcoin Cash (BCH)
388.18
litecoinLitecoin (LTC)
101.80

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

blank
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin39,194 0.47 % 2.33 % 0.30 %
Ethereum2,643.5 1.30 % 5.12 % 15.31 %
Tether1.000 0.04 % 0.14 % 0.29 %
Binance Coin331.13 0.63 % 2.82 % 5.63 %
Cardano1.360 0.12 % 1.63 % 7.19 %
XRP0.7246 0.58 % 1.25 % 12.81 %
USD Coin1.000 0.15 % 0.17 % 0.13 %
Dogecoin0.2000 0.41 % 1.43 % 2.24 %
Polkadot18.60 0.73 % 6.72 % 29.86 %
Binance USD1.000 0.30 % 0.35 % 0.32 %

bitcoin
Bitcoin (BTC) $ 39,366.00
ethereum
Ethereum (ETH) $ 2,690.97
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 333.52
cardano
Cardano (ADA) $ 1.38
xrp
XRP (XRP) $ 0.724080
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.200021
polkadot
Polkadot (DOT) $ 19.18
uniswap
Uniswap (UNI) $ 23.23