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Israeli Police Seize Millions in Bitcoin After Anti-Money Laundering Probe

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Following an indictment, authorities in Israel have seized 1071 BTC after allegations of in excess of 20,000 fraudulent transactions being carried out by a resident of Hebron, Halmi Git, near Jerusalem.

Fraud on a Massive Scale

According to the allegations, the accused set up a number of forums over the last decade and used them to sell credit card details, involving over a million people. Users were offere the chance to sign up for a paid, premium membership, at which point they would be able to have access to more recent stolen credit card details. It would appear that the fraudulent credit card transactions were then laundered through Bitcoin, as Git would request that users paid in the crypto, totalling $8 million.

Another scheme that Git is thought to have instigated is that of the sale of mobile phones. Reportedly, he would take payment up front, then block the user from the forum and publish a fake positive review each time.

And it would appear that Git isn’t prepared to deny his involvement in crime at this moment. He was quoted saying:

We are thieves, from wherever we can take money, we will take it – it does not matter where, from Israel, the US or even the moon, we will reach it and use it.

Image Credit: Deposit Photos

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