Europol Shuts Down Counterfeiting Ring Which Sold $1.44M for Bitcoin
William Suberg's original article for cointelegraph.com reduced by 78%
Portuguese police and Europol have seized funds worth €70,000 in what they describe as one of the most advanced counterfeiting operations ever seen. As Brazilian daily news outlet Sputnik and others reported on Sept. 10, law enforcement succeeded in bringing down the ring, which sold fake notes on the dark web in return for Bitcoin.
In action since 2017, the operation created €1.3 million in fake money. The leader, from Portugal, was found and extradited from Colombia this week. "Often they are only detected when entering bank deposits.
In terms of normal trade, they are banknotes that pass quite easily," police investigation coordinator, Luís Ribeiro, said in a statement quoted by Sputnik. The news is conspicuous for highlighting the perpetrators' preference for unforgettable hard currency - Bitcoin - over printable fiat. "Bitcoin fixes this," Francis Pouliot, founder of Canadian Bitcoin consumer platform Bull Bitcoin, subsequently commented, alluding to the ability of individuals to verify Bitcoin transactions by running a full network node.
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CN [too long; didn’t read]
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