Individual Detained in Romania Under Suspicion of Stealing Thousands of Cryptos From an Unnamed Major Exchange

Romanian authorities conducted an operation that led to the arrest of a person for his alleged involvement in a theft of cryptocurrencies. The investigation revealed that the anonymous trading platform was based in the Cayman Islands.

More than $620,000 stolen in cyber attack

According to prosecutors at the Romanian Directorate for the Investigation of Organised Crime and Terrorism, the following events took place in Romania between 28 and 31 December In January 2021, a massive cyber-attack took place during a cryptographic exchange.

Although there are no significant details about the company, authorities have ranked it as the 7th largest cryptocurrency operator in the world. An unknown man is suspected of being involved in a cryptocurrency theft of more than $620,000.

According to an official press release, prosecutors have charged him with wire fraud, money laundering and hacking. The results also show that the suspected hacker gained access to sensitive API codes, which eventually allowed him to gain access to the entire exchange system.

Preservation for 30 days

According to reports, the man transferred the stolen cryptocurrencies to multiple wallets to make it difficult to trace the transactions. To circumvent verification procedures, one person made withdrawals for less than 10,000 lei ($2,430).

Yet the man wanted to make a profit because the people behind the exchanges paid him a salary, prosecutors said.

The Romanian authorities have provided Iași with additional details on the operation:

DIICOT – The Iași Oblast Prosecutor’s Office, together with officials from the Iași BCCO Criminal Investigation Department, conducted two searches, seizing seven mobile phones, three laptops, five memory cards and two electronic wallets worth 10 800 lei (USD 2 630). An amount of 40 000 lei ($9 750) was also recovered from the account of a bitcoin exchanger.

The defendant is facing 30 days of pre-trial detention, as the Iași District Court has jurisdiction to conduct the trial in this case.

What do you think of the operation that took place in Romania? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Related Tags:

new cryptocurrency,cryptocurrency prices,is bitcoin safe,bitcoin news today,Privacy settings,How Search works

Get in Touch

Related Articles

Crypto-to-fiat liquidity startup Xanpool raises $27M

A new blockchain-powered startup, Xanpool, has raised $27 million in funding to provide liquidity for digital assets. The company is the first of its...

JPMorgan says inflation concerns, not ETFs, driving Bitcoin price jump

Bitcoin’s price has gone up by more than $1,000 in the past week, with JPMorgan Chase CEO Jamie Dimon attributing the increase to “inflation...

Celsius vs. BlockFi – Beat The Banks With Crypto Lending

Celsius is a peer-to-peer lending platform with no set interest rates, while BlockFi is an institutional grade crypto lender. The two are similar in...

Latest Posts

Crypto-to-fiat liquidity startup Xanpool raises $27M

A new blockchain-powered startup, Xanpool, has raised $27 million in funding to provide liquidity for digital assets. The company is the first of its...

JPMorgan says inflation concerns, not ETFs, driving Bitcoin price jump

Bitcoin’s price has gone up by more than $1,000 in the past week, with JPMorgan Chase CEO Jamie Dimon attributing the increase to “inflation...

Celsius vs. BlockFi – Beat The Banks With Crypto Lending

Celsius is a peer-to-peer lending platform with no set interest rates, while BlockFi is an institutional grade crypto lender. The two are similar in...

Paxful Review 2021: Legit Peer-to-Peer Crypto Marketplace?

Paxful is a peer-to-peer marketplace for bitcoin and other cryptocurrencies. It has been around since 2013, but it has recently made waves with its...

AutoFarm Review 2021 (AUTO) – [Newest Top Contender for DeFi Yield Optimizers?]

AutoFarm is a new, upcoming DeFi yield optimizer that has been garnering some attention. The project has an ICO coming up on the 11th...