Over $8.5 Million in Bitcoin seized by Police of Israel

Large measures of anti-money laundering action has been taken by the cyber department of the State Attorney’s Office
27 May 2018   1049

The organization filed an indictment, stating that Hilmi Git had managed to commit more than 20,000 swindling transactions with Israeli credit cards, laundering the money via the Bitcoin network. Halmi Git, a resident of Hebron, has been charged of multiple scams with credit cards, providing means for committing a crime, carrying out fraudulent trade activity, and laundering the proceeds through Bitcoin. 

According to the report, the Git managed to pile up a total of 1,071 Bitcoin over the course of his crimes. At that time of press, Bitcoin is trading at $7,342.21, making the total value of Git’s fraud at a little over $7.8 million. 

Git processed a forum network and websites used to deliver information on how to commit a range of computer violations. One of these forums is affirmed to have provided stolen credit card information. At the time when the entry to the forum was free, members could acquire a “VIP” membership to gain “fresh” credit card data. Git issued various guides in violation with the country’s Computers and Money Laundering Law. Git also managed another scam, fraudulently realizing mobile phones – often members of his own forums –  at significantly reduced prices.

The indictment dispalys a scheme in which Git would require that the customer transfer his money for the phone, after which point he would proceed to block the client from the forum without ever actually having sent the customer their phone. He would go on to issue a positive feedback message on behalf of the deceived customer, expressing gratitude for the cheaper mobile phone. 

The Israeli State Prosecutor’s Office declares that Git had demanded all the payments to be made in Bitcoin. As such, he has reportedly managed to accumulate more than 1,071 Bitcoin between 2008 and 2018. The Bitcoin wallet of the defendant has been seized and the funds in it are to be confiscated if and when he is found guilty of his crimes.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   320

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.