A woman was arrested in Burwood — a suburb of Sydney, Australia — for allegedly operating an unregistered cryptocurrency exchange.
The arrest took place at a local shopping mall and police later found $60,000 in cash and $55,000 in bitcoins at her apartment.
The 52-year-old woman has allegedly been operating as a cryptocurrency dealer since 2017. She apparently moved more than $5 million in BTC since that time.
Local authorities expressed concern regarding the potential for criminal money laundering through such unregulated exchanges. Authorities hope that the arrest will serve as a warning to those who are operating similar schemes in Australia. However, per the local chief of police, this was the first of its kind in Australia.
The woman will appear in court on July 20 of this year.Police say they will make more arrests after a 52-year-old woman was charged with operating an illegal online digital currency exchange. NSW cybercrime detectives arrested the woman after searching properties at Burwood and Hurstville. https://t.co/TWh1KQycs4 #7NEWS pic.twitter.com/VrHlOB9Hfa
— 7NEWS Sydney (@7NewsSydney) May 15, 2020
Top crypto projects in the US | April 2024
Trusted
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Jon Buck
With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about cryptocurrencies and blockchain technology for some of the biggest publications and ICOs in the industry. After a brief stint in India, he and his family live in southern CA.
With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about cryptocurrencies and blockchain technology for some of the biggest publications and ICOs in the industry. After a brief stint in India, he and his family live in southern CA.
READ FULL BIO
Sponsored
Sponsored