Marbella, epicenter of the largest cryptocurrency seizure in Europe linked to drug trafficking

Agents of the National Police, in collaboration with the National Policy of the Netherlands, $17 million in cryptocurrencies seized following tech scams and fraud. This is the largest seizure of virtual currencies in Europe linked to drug trafficking organizations.

The agents Three people of Dutch origin were arrestedamong them the leader of the criminal group who had been based in Marbella to launder the money he obtained through fraud through the acquisition of high-value movable and immovable property that he placed in the name of third parties, the National Police said in a press release.

The principal investigator, who changed his address every week to make his location difficult, used the instant messaging apps to advertise and gain the trust of its victims who made transfers to convert their cryptocurrencies into currency.

were made three recordingsone in the Netherlands and two in Spain, in the towns of Mijas and Marbella, in Malaga, as a result of which more than 850,000 euros in cash, 16 high-end watches, a large number of mobile phones and jewelry worth more than half a million euros.

The investigation began when officers learned that an individual, after having committed many cryptocurrency scamsallegedly moved to Spain to hide and try to launder the money obtained fraudulently. Likewise, investigations focused on his parents, who allegedly collaborated in money laundering.

Main investigation

Lead Investigator Led Cryptocurrency Scams Through Fraud On the counter (OTC), which consists of economic transactions that do not take place through the stock marketbut are formalized directly between two parties.

It is a type of negotiation in which the parties involved buy and sell assets directly, without public intermediaries, through which both parties agree on terms and prices privately. This lack of control It was used by the person investigated to carry out their illicit activity.

The now-detained man used instant messaging apps to pose as a trusted person to carry out different transactions with cryptocurrencies. The victims contacted him in order to convert their virtual currencies into currency.

They first carried out a transferusually small amounts, which he resolved satisfactorily, thus gaining their trust. However, in subsequent transfers, the victims increased the amount of cryptocurrencies transferred and the person under investigation no longer sent regular currency, thus illegally increasing their virtual currency holdings.

The agents discovered that the main investigated allegedly defrauded victims from various European countriesamong them, members of international criminal organizations based on the Costa del Sol and whose leaders intended to launder the money obtained through their illicit activities.

I changed my address every week

The arrested person adopted countless security measures. He changed his address every week, passing by different vacation rental houses and he also always had with him the computer equipment necessary to carry out his illegal activity. This made locating him very difficult since when officers found out where he was, he moved to another house.

Furthermore, regarding cryptocurrencies, he made transfers to those known as “cold” wallets so that no trusted person who knows the passwords and “seed” words can transfer them. In this way, it made police action difficult.

The researchers carried out a search in the Netherlands, where they located more than half a million euros and a large number of luxury effects. Subsequently, in a house belonging to relatives of the main investigator, agents discovered a safe containing 238,000 euros in cash and watches worth more than 600,000 euros in addition to numerous documents and cell phones.

Authorized police investigations locate the leader at the beginning of last September in Marbella (Málaga) where he was arrested as a suspected perpetrator of property crimes, and a European arrest and extradition order was also in force. During the search of his home, watches, luxury items and more than 16,000 euros in cash were seized.