As a seasoned analyst with extensive experience in the dynamic world of cryptocurrencies, I find this recent development particularly intriguing. The Japanese police’s ability to trace and apprehend a Monero (XMR) money launderer is a significant milestone in the ongoing battle against cybercrime.
Chinese digital news reporter Colin Wu has disseminated information about the Japanese police’s successful initial identification and apprehension of a cyber criminal. This was achieved by tracking transactions involving Monero (XMR) and scrutinizing the collected data. The detained cryptocurrency offender is said to have led a team of around 20 individuals, collectively amassing over 100 million yen in earnings.
Wu’s data comes from today’s Nikkei article, a link to which he published in his post.
Caught over laundering money through XMR
Based on Nikkei’s report, a joint effort by Japanese cyber police and other departments led to the apprehension of Yuta Kobayashi, a 26-year-old individual. Although his real-life profession is not disclosed, it is alleged that he engaged in computer fraud, exploiting the credit cards of unsuspecting victims to illegally amass wealth.
The suspected wrongdoers are estimated to have caused over 100 million yen in damages. A criminal organization attempted to disguise their stolen assets using the private cryptocurrency Monero, a coin known for its confidentiality and anonymity features that make it hard to track senders and recipients. Despite this, the digital police force was able to pinpoint Kobayashi by following the trail of XMR transactions. This is believed to be the first instance where someone has been identified using data from Monero transactions.
For the first time, Japanese police identified suspects by analyzing Monero money laundering. The gang conducted about 900 fraudulent transactions between June 2021 and January 2022, and the police have arrested 18 people.
— Wu Blockchain (@WuBlockchain) October 21, 2024
In the scorching summer of 2021, I found myself on the wrong side of the law, as a cunning individual like me. I manipulated a popular Japanese marketplace platform, Mercari, by listing fraudulent crypto-related products. To add fuel to the fire, I exploited the credit card details of innocent people, tricking the company into thinking that those transactions were genuine and completed. Regrettably, this deception resulted in the company losing millions of yen from their hard-earned profits.
From June 2021 to January 2022, a gang of scammers carried out around 900 deceptive credit card transactions, often without the knowledge of the victims. It is suspected that they obtained this data through phishing tactics involving bogus websites and misleading emails.
To date, aside from Yuta Kobayashi, a total of 18 individuals linked to his cyber crime team have been apprehended. These individuals were recruited through job offers posted on social media platforms, which they referred to as “illegal part-time jobs.” The majority of their communications with Kobayashi were kept private using secure messaging apps.
CZ warns against scammers using his name
According to an earlier report by U.Today, Changpeng Zhao, the founder and ex-CEO of Binance exchange, posted on Twitter that he’d spotted at least two authenticated accounts falsely claiming to be him.
Zhao made it clear to the community that he exclusively employs the “@cz\_binance” Twitter handle, which begins with “cz.
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2024-10-21 16:04