Police – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Mon, 25 Aug 2025 05:26:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Police – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Fake Police Officer Tricks Bitcoin Holder, Steals $2.8 Million in Wales https://earlybirdsinvest.com/fake-police-officer-tricks-bitcoin-holder-steals-2-8-million-in-wales/ https://earlybirdsinvest.com/fake-police-officer-tricks-bitcoin-holder-steals-2-8-million-in-wales/#respond Mon, 25 Aug 2025 05:26:09 +0000 https://earlybirdsinvest.com/fake-police-officer-tricks-bitcoin-holder-steals-2-8-million-in-wales/

A Bitcoin
BTC


$112,161.25

investor in Wales has lost about $2.8 million after being tricked by a scammer pretending to be a senior UK police officer.

According to a report by BBC on August 20, investigators noted that the individual’s personal information had already been exposed in a separate breach.

Using this data, the scammer introduced themselves as a high-ranking UK officer and claimed the person’s details had appeared during another investigation.

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The caller then pressured the victim to “secure their funds” through a website that looked legitimate but was entirely fake.

Following the instructions, the victim entered the recovery phrase of their hardware wallet on the site. Once this phrase was typed in, the scammer gained full access and emptied the wallet.

North Wales Police explained that no officer would ever contact the public to discuss cryptocurrency accounts, storage devices, or recovery phrases. They emphasized that any request of this kind should be treated as a clear warning sign.

Officials are using this incident to warn the public. Scammers are no longer focused only on beginners but are also creating detailed schemes aimed at experienced investors.

To reduce risks, police recommend that recovery phrases remain written down and stored offline only. They should never be entered into websites or apps, no matter how convincing they look.

Recently, the security firm Scam Sniffer reported that a scammer stole over $900,000 from a crypto wallet. How? Read the full story.


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Czech police arrest donor in a billion-dollar bitcoin scandal: report https://earlybirdsinvest.com/czech-police-arrest-donor-in-a-billion-dollar-bitcoin-scandal-report/ https://earlybirdsinvest.com/czech-police-arrest-donor-in-a-billion-dollar-bitcoin-scandal-report/#respond Sat, 16 Aug 2025 13:44:48 +0000 https://earlybirdsinvest.com/czech-police-arrest-donor-in-a-billion-dollar-bitcoin-scandal-report/

Czech police have taken convicted drug trafficker Tomas Zikovsky into detention. This is the man behind the billions of dollars in Bitcoin donations to the country’s Department of Justice, escalating a scandal that has already claimed ministers.

The Supreme Prosecutor’s Office said Thursday by the National Center for Fighting Organized Crime. (ncoz) According to a report on Czech news website Echo24, it has intervened in the case and secured individuals and evidence. The investigation now targets allegations of money laundering and illegal drug handling, separated from the broader investigation that also investigated electricity abuse.

Jizikovský was found guilty and served as a prison sentence for running the Darknet Drug Marketplace, known as Sheep Marketplace. He was arrested in 2016 and later convicted of embezzlement and drug trafficking, and sentenced to nine years in prison.

The arrest was the result of a police attack at the jizeclav home.

The Bitcoin donation incident shook Prime Minister Petr Fiara’s administration a few months before this year’s election raster.

The government survived the unconfident vote submitted by the opposition party and is leading the current poll ahead of the October vote.

Former Justice Minister Pavel Blazek accepted a donation of 468 BTC in June, and Czech Koruna worth around $45 million.

His successor, Eva Decolo, commissioned an independent audit from Grant Thornton. An audit released in late July concluded that the ministry should not accept Bitcoin, warning that it could result from criminal revenue and constitute a criminal offence.

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Donald Trump’s takeover of DC police is legal, but there’s a catch https://earlybirdsinvest.com/donald-trumps-takeover-of-dc-police-is-legal-but-theres-a-catch/ https://earlybirdsinvest.com/donald-trumps-takeover-of-dc-police-is-legal-but-theres-a-catch/#respond Tue, 12 Aug 2025 20:15:50 +0000 https://earlybirdsinvest.com/donald-trumps-takeover-of-dc-police-is-legal-but-theres-a-catch/

On Monday, President Donald Trump released an executive order invoking a rarely used federal law that allows him to temporarily seize control over Washington, DC’s police force. Later the same day, DC’s Democratic Mayor Muriel Bowser seemed to concede that there’s nothing she can do about it.

“What I would point you to is the Home Rule Charter that gives the president the ability to determine the conditions of an emergency,” Bowser said Monday afternoon. “We could contest that, but the authority is pretty broad.”

Bowser is almost certainly correct that Trump can seize control of her city’s police force, at least for a little while.

The District of Columbia is not a state, and does not enjoy the same control over its internal affairs that, say, nearby Virginia or Maryland does. The Constitution gives Congress the power to “exercise exclusive Legislation in all Cases whatsoever” over the nation’s capital. If Congress wanted to, it could turn DC into a federal protectorate tomorrow.

In 1974, however, Congress enacted the District of Columbia Home Rule Act, which generally gives DC residents the power to elect the city’s leaders. But that law contains an exception that allows the president to briefly take command of DC’s police.

“Whenever the President of the United States determines that special conditions of an emergency nature exist which require the use of the Metropolitan Police force for federal purposes,” the law provides, the president may require the city’s mayor to provide him “such services of the Metropolitan Police force as the President may deem necessary and appropriate.”

The same law, however, also provides that presidential control over DC police must terminate after 30 days, unless Congress takes some action to extend it. So, assuming that the courts actually apply this 30-day limit to Trump, Trump’s control over DC’s local police will only last a month at most.

Indeed, Trump’s own executive order seems to acknowledge that his powers are time-limited. The order requires Mayor Bowser to “provide the services of the Metropolitan Police force for Federal purposes for the maximum period permitted under section 740 of the Home Rule Act.”

The Home Rule Act, moreover, is fairly adamant that this 30-day limit is real. It provides that, absent congressional action, “no such services made available pursuant to the direction of the President … shall extend for any period in excess of 30 days.” So, if Trump does try to extend the time limit without Congress’s consent, the courts should not permit him to do so.

Trump often uses “emergency” powers to address ordinary things

Trump loves to declare emergencies. In his first 100 days in office, he declared eight of them, more than any other president — including himself in his first term. His DC police order is just the latest of these emergency declarations. Trump claims that “crime is out of control in the District of Columbia,” and this supposed situation justifies invoking emergency powers to take control of DC’s police.

The idea that DC faces a genuine emergency is a farce. As pretty much everyone who has written about Monday’s executive order has noted, violent crime rates in the city are at a 30-year low. So, even if you concede that crime is such a problem in DC that it justifies a federal response, that problem has existed for three decades. A persistent problem is the opposite of an emergency.

That said, Bowser is correct that the Home Rule Act’s text permits the president, and the president alone, to determine whether an emergency exists that justifies taking control of DC’s police. The relevant language of the statute provides that Trump may invoke this power “whenever the President of the United States determines that special conditions of an emergency nature exist.”

Broadly speaking, it makes sense to give the president unreviewable authority to decide when to invoke certain emergency powers. The very nature of an emergency is that it is a sudden event that requires immediate action, without which matters could deteriorate rapidly. Think of a heart attack, a major natural disaster, or an insurrection.

Suppose, for example, that a violent mob attacks the US Capitol during an important national event, such as the congressional certification of a presidential election. When Congress enacted the Home Rule Act, it quite sensibly could have thought that the president should be able to draw upon all nearby law enforcement officers to quell such an attack on the United States — without having to first seek permission from local elected officials, or a judge.

Congress, of course, did not anticipate that the president might be complicit in such an attack. But that doesn’t change the fact that the statute says what it says. A nation as large and diverse as the United States cannot function unless its chief executive has the power to take some unilateral actions. If a president abuses that authority, the proper remedy is often supposed to be the next election.

It’s worth noting that not every emergency statute is worded as permissively as the Home Rule Act’s provision governing local police. In May, for example, a federal court struck down many of the ever-shifting tariffs that Trump imposed during his time back in office. One of the plaintiffs’ primary arguments in that case, known as V.O.S. Selections v. Trump, is that Trump illegally tried to use an emergency statute to address an ordinary situation.

Trump primarily relied on a statute known as the International Emergency Economic Powers Act of 1977 (IEEPA) to justify his tariffs. That law gives him fairly broad authority to “regulate” international transactions, but this power “may only be exercised to deal with an unusual and extraordinary threat with respect to which a national emergency has been declared.”

Thus, the text of IEEPA is quite different from the text of the Home Rule Act. While the Home Rule Act permits the president to act whenever he determines that an emergency exists, IEEPA imposes two conditions on the president. One is that there must be an emergency declaration, but the other is that the president must invoke IEEPA to deal with an actual “unusual and extraordinary threat.”

Trump claims that many of his tariffs are justified because of trade deficits — the United States buys more goods from many nations than it sells — but the US has had trade deficits for at least two decades. So trade deficits are hardly an “unusual and extraordinary threat.”

Some of Trump’s invocations of emergency power, in other words, are vulnerable to a legal challenge. But the question of whether any particular invocation may plausibly be challenged in court will turn on the specific wording of individual statutes.

Will the courts actually enforce the 30-day limit?

All of this said, the Home Rule Act does contain one very significant limit on presidential power: the 30-day limit. And the statute is quite clear that this limit should not be evaded. Again, it states that “no” services made available to the president “shall extend for any period in excess of 30 days, unless the Senate and the House of Representatives enact into law a joint resolution authorizing such an extension.” (The law also permits Congress to extend this 30-day limit by adjourning “sine die,” meaning that Congress adjourns without formally setting a date for its return, something it typically only does for a brief period every year.)

So what happens if, a month from now, Trump declares a new emergency and tries to seize control of DC’s police for another 30 days? If the courts conclude that he can do that, they would make a mockery of the Home Rule Act’s text. Presidents should not be allowed to wave away an explicit statutory limit on their authority by photocopying an old executive order and changing the dates.

That said, the Supreme Court is dominated by Republicans who recently held that Trump may use the powers of the presidency to commit crimes. So, while the Home Rule Act is very clear about the 30-day limit on Trump’s power, there is no guarantee that this Supreme Court will rule that the law applies to him.

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Police Issue Warning on Spread of Fake ‘Fraud Department’ Scammers as One Victim Loses $15,000 to Scheme: Report https://earlybirdsinvest.com/police-issue-warning-on-spread-of-fake-fraud-department-scammers-as-one-victim-loses-15000-to-scheme-report/ https://earlybirdsinvest.com/police-issue-warning-on-spread-of-fake-fraud-department-scammers-as-one-victim-loses-15000-to-scheme-report/#respond Thu, 24 Jul 2025 19:42:28 +0000 https://earlybirdsinvest.com/police-issue-warning-on-spread-of-fake-fraud-department-scammers-as-one-victim-loses-15000-to-scheme-report/

Scammers are reportedly posing as bank fraud investigators to steal money from unsuspecting victims.

According to WPLG Local 10, the Broward Sheriff’s Office (BSO) in Florida has issued a warning about the scheme and is urging the public to be vigilant amid rising cases of bank-related phone scams.

WPLG reports that the BSO Pompano Beach District has already received more than a dozen complaints from residents who were tricked into handing out thousands of dollars to the scammers.

Deputies say that one victim lost $15,000 to the scheme. A couple was also tricked into giving up their debit cards and personal identification numbers (PINs), resulting in more than $9,000 in fraudulent charges.

The bad actors typically contact their prospective victims, pretending to work for the fraud department of the victim’s bank.

The scammers then claim there are suspicious activities on the victim’s account that require immediate action to protect the funds. They then tell the victims to withdraw large sums of money or hand over their debit cards and PINs.

In some cases, the scammer arranges for an Uber to pick up the money or the debit card, instructing the victim to place the envelope containing these items in the backseat and not speak to the driver.

The police say that legitimate banks will not tell their clients to withdraw money and send it through a ride-share service, nor will they ask to hand over debit cards and PINs to a third party.

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Crypto Case Cracks Open Police Conspiracy In LA—Details https://earlybirdsinvest.com/crypto-case-cracks-open-police-conspiracy-in-la-details/ https://earlybirdsinvest.com/crypto-case-cracks-open-police-conspiracy-in-la-details/#respond Wed, 16 Jul 2025 06:16:23 +0000 https://earlybirdsinvest.com/crypto-case-cracks-open-police-conspiracy-in-la-details/

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A federal prosecutor in California has charged two Los Angeles County Sheriff’s Department deputies with conspiring to violate people’s civil rights. One of the deputies has already pleaded guilty. Their actions are tied to a crypto entrepreneur known as “The Godfather,” who ran a trading platform called Zort.

Rodriguez Ran A Warrant Scheme: Court Documents

Rodriguez, 43, admitted that he teamed up with 24‑year‑old Adam Iza to push illegal business. He used his badge to secure a court‑authorized search warrant in July 2022 by telling a judge it was needed for a robbery probe.

That turn of events let him act outside the law. Based on reports, Rodriguez also helped another private security client—unrelated to Iza—with shady favors.

Deputy Rodriguez faces up to 10 years behind bars. He said he took cash and crypto payments. The US Attorney’s Office noted he used his office to carry out work that had no place in law enforcement.

Saavedra’s Tracking And Harassment

The same filings show Rodriguez worked alongside Deputy Eric Chase Saavedra. Saavedra used GPS data obtained by Rodriguez to follow a victim. He then threatened and intimidated that person.

Saavedra is free on a $50,000 bond and is set to face a hearing on November 10. He remains under active investigation by the DOJ.

BTCUSD trading at $116,134 on the 24-hour chart: TradingView

Armed Intimidation At Bel Air Mansion

A second deputy, Christopher Michael Cadman, 33, also pleaded guilty. He pulled over a car in Paramount, staged a fake traffic stop, and held a victim at gunpoint outside Iza’s Bel Air home.

The pair forced him to send $25,000 to Iza. Cadman then filed false tax returns in 2022 claiming only $40,500 in income. In fact, he owed $11,000 for the 2021 tax year.

Image: Digital Watch Observatory

Those moves carried large risks. Cadman faces years in prison for armed robbery and tax fraud. His plea deal requires him to cooperate with prosecutors on related cases.

Crypto Payments And Tax Evasion

Prosecutors say Iza’s firm sent roughly $154,900 in payments to at least one officer. Court filings accuse Iza of posing as an FBI agent to seize digital assets by force. Victims include an unnamed man and his girlfriend.

Investigators also allege Iza used shell companies to hide about $1.7 million from the IRS between 2020 and 2022. Iza agreed to a deal with the DOJ in January. He faces charges for tax evasion, conspiracy against rights, and wire fraud.

A hearing is set for December 15. His ex‑girlfriend, Iris Ramaya Au, was charged in March with hiding his income. She could go to prison for three years over her part in what prosecutors call a $2.6 million criminal operation that funded more than $10 million in luxury trips.

Featured image from Getty Images, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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Axon’s AI police report generator designed to help cops avoid “disclosure headaches” https://earlybirdsinvest.com/axons-ai-police-report-generator-designed-to-help-cops-avoid-disclosure-headaches/ https://earlybirdsinvest.com/axons-ai-police-report-generator-designed-to-help-cops-avoid-disclosure-headaches/#respond Tue, 15 Jul 2025 11:15:06 +0000 https://earlybirdsinvest.com/axons-ai-police-report-generator-designed-to-help-cops-avoid-disclosure-headaches/

Copgadget company Axon offers an AI service that transcribes bodycam audio and turns it into an automatic police report, which officers can edit and sign off on. There are two big problems with it: first, it doesn’t show who wrote what, and second, it doesn’t keep a version/edit history. An Axon executive admitted this is by design, to help police with their “disclosure headaches.” The EFF raises the alarm about Draft One’s killer feature: avoiding transparency.

So we don’t store the original draft and that’s by design and that’s really because the last thing we want to do is create more disclosure headaches for our customers and our attorney’s offices—so basically the officer generates that draft, they make their edits, if they submit it into our Axon records system then that’s the only place we store it, if they copy and paste it into their third-party RMS [records management system] system as soon as they’re done with that and close their browser tab, it’s gone. It’s actually never stored in the cloud at all so you don’t have to worry about extra copies floating around.”

To reiterate: Axon deliberately does not store the original draft written by the Gen AI, because “the last thing” they want is for cops to have to provide that data to anyone (say, a judge, defense attorney or civil liberties non-profit). 

One of Axon’s first customers was Frederick Police Department in Colorado. Here’s what Krisy O’ Hayre, Executive Administrator at Frederick Police Department, had to say about it: “We love having new toys until the public gets wind of them.”

As the EFF puts it: “There is no meaningful way to audit Draft One usage, whether you’re a police chief or an independent researcher, because Axon designed it that way. “

You can read our full report, which details what we found in those documents, how we filed those public records requests, and how you can file your own, here. 

Previously:
• Axon makes false statements to town that bought its police bodycams, threatens to tase their credit-rating if they cancel the contract
• Juvenile criminal defense attorneys forced to agree to Taser’s terms of service to see the state’s evidence
• TJ Maxx and Marshalls workers wearing bodycams

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Tasmania’s Crypto ATM Users Scammed Out of $1.6 Million, Police Says https://earlybirdsinvest.com/tasmanias-crypto-atm-users-scammed-out-of-1-6-million-police-says/ https://earlybirdsinvest.com/tasmanias-crypto-atm-users-scammed-out-of-1-6-million-police-says/#respond Sat, 12 Jul 2025 01:48:40 +0000 https://earlybirdsinvest.com/tasmanias-crypto-atm-users-scammed-out-of-1-6-million-police-says/

Authorities in Tasmania have revealed that the top 15 users of crypto ATMs in the state were all victims of scams.

These individuals lost a total of 2.5 million Australian dollars (about $1.6 million USD), with more than $592,000 of that deposited directly into crypto machines.

The findings were shared by Tasmania Police’s cybercrime unit, which has been working across Australia to tackle misuse of crypto ATMs.

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Detective Sergeant Paul Turner said scammers often directed people to crypto ATMs after banks or financial apps blocked their transactions. Once those attempts failed, the fraudsters would tell the victims to use a crypto machine instead.

Turner said, “Victims are being manipulated, intimidated and pressured into investing in fake investment and romance scams”.

He added that the impact can be long-term. Some people end up needing government support, selling their belongings, or delaying retirement because of the money they have lost.

Turner also warned:

If you are asked to deposit cash into a cryptocurrency ATM by someone you’ve never met in person, or the offer comes with a high-pressure deadline or urgent tone, then it is likely a scam.

On June 25, the Australian Federal Police and AUSTRAC launched a national operation aimed at stopping criminals from using crypto ATMs to transfer funds. What did they discover? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Moroccan police arrests suspect behind recent crypto-related kidnappings in France https://earlybirdsinvest.com/moroccan-police-arrests-suspect-behind-recent-crypto-related-kidnappings-in-france/ https://earlybirdsinvest.com/moroccan-police-arrests-suspect-behind-recent-crypto-related-kidnappings-in-france/#respond Thu, 05 Jun 2025 00:07:26 +0000 https://earlybirdsinvest.com/moroccan-police-arrests-suspect-behind-recent-crypto-related-kidnappings-in-france/

Moroccan police have arrested a dual-national French-Moroccan man wanted for an alleged connection with a series of kidnappings in France that targetted individuals with crypto holdings, Reuters reported on June 4, citing a source familiar with the case.

According to the source, Moroccan police identified the man as Bajjou Badiss Mohamed AmiDe, who is 24 years old and was subject to an Interpol red notice issued by French authorities. 

Charges against him include organized crime, kidnapping, and extortion. He will be prosecuted in Morocco due to his dual nationality, with French prosecutors having already transmitted the necessary case files to their Moroccan counterparts.

French Justice Minister Gérald Darmanin acknowledged the arrest in a post on social media, and thanked Moroccan authorities but did not comment further on the case. 

Moroccan officials confirmed that the suspect will not be extradited and will face trial locally under the criminal charges issued by France.

Rise in crypto-linked kidnappings

The arrest follows a wave of violent attacks on crypto entrepreneurs in France, prompting Interior Minister Bruno Retailleau to implement emergency protections. 

Reports on May 16 revealed that the government has begun offering private security consultations and home assessments to individuals deemed to be at risk.

Retailleau, who met privately with crypto founders, said the goal is to stop what he called “unbearable” attacks. 

According to Ledger co-founder Éric Larchevêque, France has witnessed 14 of the 50 known global attacks on cryptocurrency figures in the past year.

Recent cases include a January abduction of Larchevêque’s associates and a May 14 attempted kidnapping of Paymium CEO Pierre Noizat’s daughter in Paris, caught on video. 

In another case, police arrested seven suspects after the finding of a victim with a severed finger. Noizat warned that more violence would occur unless the judiciary responded with greater urgency.

The Interior Ministry’s actions aim to prevent further escalation as France attempts to maintain its position as a hub for digital finance. Proceedings against Bajjou will continue under Moroccan jurisdiction.

Mentioned in this article
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25 Arrested as South Korean Police Crack Down on Multiple Crypto Scam Rings https://earlybirdsinvest.com/25-arrested-as-south-korean-police-crack-down-on-multiple-crypto-scam-rings/ https://earlybirdsinvest.com/25-arrested-as-south-korean-police-crack-down-on-multiple-crypto-scam-rings/#respond Thu, 15 May 2025 10:18:20 +0000 https://earlybirdsinvest.com/25-arrested-as-south-korean-police-crack-down-on-multiple-crypto-scam-rings/ South Korean authorities have dismantled a sprawling crypto investment scam ring that deceived dozens of victims by posing as financial experts and promising high returns. The Jeju Metropolitan Police Agency announced the arrest of 25 individuals connected to four separate criminal organizations behind the elaborate scheme, local media outlet yna reported.

According to officials, the fraudsters operated call centers designed to appear as legitimate investment advisory services. The operation allegedly led to losses totaling nearly 734 million won ( $540,000 USD) from at least 48 victims between June 2023 and April 2025.

Posing as cryptocurrency investment professionals or team leaders from fake firms, the perpetrators persuaded individuals to register on counterfeit crypto exchanges. Victims were assured they would receive compensation for losses or could earn significant returns by purchasing tokens falsely claimed to be on the verge of listing.

Manipulated Accounts and Withheld Withdrawals

To build trust, scammers showed fake profits in the victims’ online accounts, manipulating dashboards to make it appear that cryptocurrency assets had been credited. These fabricated gains were used to push victims into making larger follow-up investments.

Authorities noted that once victims attempted to withdraw funds, their requests were either delayed indefinitely or outright ignored. In most cases, the fraudsters vanished with the funds.

Investigation Ongoing, More Crypto Scam Victims Expected

Of the 25 individuals arrested, 20 have been taken into custody while the rest face further legal action. Police have charged the suspects with crimes including organizing and operating a criminal group and violating the Telecommunications Financial Fraud Victim Refund Act.

Investigators believe there may be additional victims who have yet to come forward. The police are continuing their probe, including efforts to identify and apprehend higher-level operators involved in the scheme.

Authorities are urging the public to be vigilant about unsolicited investment advice and to verify the legitimacy of crypto platforms and advisors before engaging in any transactions.

In other news, all three South Korean presidential hopeful have voiced their support for Bitcoin ETF and institutional investment into crypto, marking a significant policy shift in South Korea.

The post 25 Arrested as South Korean Police Crack Down on Multiple Crypto Scam Rings appeared first on Cryptonews.

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Brazilian Police Seize $45,000 Worth of Crypto in ‘Protection Racket’ Raid https://earlybirdsinvest.com/brazilian-police-seize-45000-worth-of-crypto-in-protection-racket-raid/ https://earlybirdsinvest.com/brazilian-police-seize-45000-worth-of-crypto-in-protection-racket-raid/#respond Mon, 21 Apr 2025 03:23:22 +0000 https://earlybirdsinvest.com/brazilian-police-seize-45000-worth-of-crypto-in-protection-racket-raid/ Brazilian police have confiscated cryptoassets worth $45,000 in a major raid on a protection racket ring that appears to have targeted businesspeople in the south of the country.

The Portuguese-language media outlet Livecoins reported that officers served multiple warrants in several cities in the state of Rio Grande do Sul.

Police think that the gang’s ringleaders are all prisoners, and that the entire racket was orchestrated from Brazilian jails.

Protection Racket: Suspects ‘Used Crypto to Launder Funds’

The raids come as part of a wider crackdown named Operation Timeo. The state’s Polícia Civil (PCRS) officers have said they seized tokens from crypto wallets and blocked suspects’ bank accounts.

The state of Rio Grande do Sul highlighted in red on a map of Brazil.

The PCRS said that the suspects launched a fraud network to blackmail the owners of small automobile trading garages.

Officers added that the suspects also operated a “money laundering scheme.” This scheme reportedly used crypto to process the money they made from their fraud operations.

The PCRS added that one suspect has also been charged with carrying a firearm without a permit.

Porto Alegre, Brazil.

Suspects ‘Targeted Auto Traders in Several Cities’

A police spokesperson confirmed that officers had seized coins from multiple wallets in “several cities.”

The PCRS probe saw a total of 60 agents execute 11 search and seizure warrants against suspects in the cities of Porto Alegre, Novo Hamburgo, São Leopoldo, Portão, Cachoeirinha, and Imbé.

The São Leopoldo organized crime-fighting department orchestrated the operation. The PCRS said it also froze a total of 13.3 million reais ($2.3 million) in bank accounts belonging to 11 suspects.

The police did not disclose the methods they used to seize the crypto. Nor did they reveal the type of coins the suspects used.

Officers think that the gang targeted auto garage owners in Estância Velha, Novo Hamburgo, Ivoti, Sapiranga, and Portão.

The garages in question were owned by individuals who trade and repair second-hand vehicles.

The ringleaders allegedly sent individuals to order the business owners to hand over money “to avoid attacks on their businesses.”

Operation Timeo: Ongoing Investigation

Officers said they were investigating 10 suspects and one company. All of these parties, police said, “have links to inmates who had already been preventively arrested” during previous phases of Operation Timeo.

Investigations are ongoing, the PCRS said. A spokesperson said further investigations “may reveal a broader criminal network” involving extortion and money laundering.

Police think the group and other criminals are using crypto and shell companies to launder millions of USD worth of funds extorted from law-abiding citizens in protection racket schemes.

Earlier this month, the nation’s Superior Court granted judges the authority to seize crypto holdings from individuals in cases involving financial defaults.

The post Brazilian Police Seize $45,000 Worth of Crypto in ‘Protection Racket’ Raid appeared first on Cryptonews.

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