#libra#Binance
27/08/19 07:30 UTC-4

$25 Million Car Wash: US authorities "covered" illegal crypto-exchanger

CryptocurrencyAn American illegally exchanged $25 million through cryptocurrencies
An American illegally exchanged $25 million through cryptocurrencies

25-year-old US citizen Kunal Kalra pleaded guilty to the illegal exchange of $25 million through cash and cryptocurrencies. Basically, he "served" drug dealers and other criminals. Now he faces a life sentence.

 

For life: US authorities have closed an illegal crypto exchange for $25 million

The U.S. Department of Justice has stated that Kunal Kalra has admitted charges of creating and management of an illegal exchanger. Authorities say that from May 2015 to October 2017, he illegally exchanged $25 million, and his target audience were drug dealers and other criminals. Kunal conducted all operations through its bitcoin kiosk and bitcoin ATM.

According to the US authorities, Kalra knew that his business was illegal, but that did not stop him. Basically, he exchanged cash in US dollars for bitcoin. Of course, he took a commission for this. And to cover up the traces, the attacker created several fake bank accounts and businesses.

Authorities seized $889,000 in Kalra accounts and about 54.3 BTC (about $554,023 at current prices).

Interesting in the section: BitPay Wallet for storing Bitcoin

 

See also: "John McAfee: Bitcoin cannot lose!"

#Bitcoin #BTC #Drugs #Drugtrafficking #Cryptocurrencies

Editor: Pereyidenko Ihor
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