Odaily Planet Daily News: British police have seized £ 28 million ($34 million) in assets from an international Bitcoin fraud gang that exploited a loophole in an Australian cryptocurrency trading website. The investigation revolves around James Parker of Blackpool, who discovered this vulnerability in 2017. Within three months, Parker and his accomplices exploited this security vulnerability to steal over £ 20 million in credit lines, and the proceeds of the scheme were laundered with the help of Stephen Boys (nicknamed Rodney). A survey shows that Parker's extravagant spending includes distributing £ 5000 gift cards on the streets and buying cars for random acquaintances in bars. Boys admitted to carrying £ 1 million in cash to purchase a villa from Russians and paying £ 60000 to corrupt officials to continue money laundering operations. At that time, the police seized 445 bitcoins worth £ 22 million, as well as luxury watches, houses, cars, and designer goods. Parker passed away before being charged in 2021, and his accomplices were sentenced in January 2023, with 61 year old Boys sentenced to six years in prison for money laundering. The victim has received full compensation of £ 24.5 million. Due to the rise in Bitcoin prices, the seized assets are £ 3 million higher than the initial fraudulent amount. This surplus will be distributed by the Ministry of Home Affairs, the courts, and the Lancashire Police Department. DS Dave Wainwright from the Economic Crime Department pointed out that the defendant has three months to comply with the court order, otherwise there is a risk of an additional 14 years of imprisonment. The investigation involves international cooperation with law enforcement agencies in Australia and Finland. （crypto.news）
