Japan police arrest six suspects over alleged $580K crypto money laundering
- —Six suspects arrested over alleged laundering of about $580,000 via BTC and USDT
- —Scheme ran from February to March 2024, moving roughly 91 million yen
- —Funds passed through corporate accounts, were converted to BTC, sent abroad and swapped into USDT
- —About 30 victims reported; suspects allegedly took a commission of around 1%
Why it matters: The case highlights how BTC and USDT rails are used to launder fraud proceeds, adding pressure on Japan's crypto sector.
Source: DiarioBitcoin