An Ohio Man Was Arrested for Laundering Bitcoins Worth $300 Million
Feb. 17, 2020Cryptocurrencyis a type of currency that is untraceable. This makes it the most common payment method for any cyber-criminal activity.
According to the report from the Department of Justice, Harmontransferred more than 350,000 bitcointo criminals and drug dealers at the time of running the operation. This amounts to more than $300 Million. Most of the transactions came from Darknet markets. Harmon partnered with AlphaBay, which is the largest Darknet marketplace, to offer his services for its customers.
Currently, all the charges against the man aremere allegations. He is, till now, innocent until proven guilty in the court of law. If proven guilty, it is still not clear what kind of punishment will the man get. However, looking at the crimes he committed, he most likely will be serving a significant amount of time behind bars.
This charge is agreat achievement for the US law enforcersas it showed their expertise in the Darknet area. The Chief of IRS Criminal Investigation took great pride by saying,“The sole purpose of Harmon’s operation was to conceal criminal transactions from law enforcement on the Darknet, and because of our growing expertise in this area, he could not make good on that promise.”
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