The Greater Manchester Police Economic Crime Unit in the UK has confiscated approximately $22.25 million after intelligence inquiries found that USB devices contained large amounts of Ethereum (ETH).

According to the announcement by officials, investigators have found $9.5 million worth of Ethereum, indicating that another $12.7 million has been found without specifying what it is.

She said The police said the operation took place in the context of a cryptocurrency fraud campaign operating a fake savings and trading service, and the victims of this scam were residents of the United Kingdom, the United States, Europe, China, Australia and Hong Kong.

The scammers told the victims that they were relying on the Binance Smart Chain to handle all transactions.

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The UK’s Economic Crime Unit commented:

The scammers running the service waited until a large amount of money had been deposited before closing their website and transferring the money to their own accounts.

Unfortunately for them, the crooks did not disappear without a trace.

Specialized officers received intelligence that those running the scheme were in Manchester for a limited time and were tracked down, recovering encrypted USB sticks containing $9.5 million in stolen Ethereum.

arrest:

Greater Manchester Police have arrested a 23-year-old man and a 25-year-old female for fraud and money laundering.

After that, they were released while the investigation continues.

Now, the police face a challenge, as they search for the victims to recover their money.

Joe Harrop, Chief Detective at Greater Manchester Police’s Office of Economic Crime, said:

Our lives are increasingly moving towards the internet or on our phones, and currencies such as Bitcoin and Ethereum are often seen as the future when it comes to money and trading.

With that comes a new type of crime, and we’re seeing a rise in opportunistic criminals looking to exploit these trends as well as any loopholes that exist to manipulate them.

Read:Project “Diem” moves from Switzerland to the United States to launch a stable digital currency backed by dollars

In June, investigators from the Metropolitan Police’s Economic Crime Command conducted the country’s largest cryptocurrency seizure, believed to be one of the largest globally.

Specifically, authorities seized 114 million pounds ($158.8 million) worth of cryptocurrency, reportedly in connection with a money laundering case.

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