RATE Group | NSW woman trading Bitcoin for cash charged
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NSW woman trading Bitcoin for cash charged

14 May NSW woman trading Bitcoin for cash charged

Posted at 23:54h in Bitcoin News by

A woman who allegedly exchanged cash for cryptocurrency and transacted more than $5 million worth of Bitcoin has been charged.

The 52-year-old was allegedly operating an online money laundering syndicate trading digital currency for cash in NSW, which police began investigating in November 2018.

She was arrested at a Burwood shopping centre about 1pm on Thursday, with officers allegedly seizing $60,000 cash from her handbag. They also found 3.8 Bitcoin – valued at more than $55,000 – stored on an electronic device in the bag.

Police have also seized a number of other items including electronic storage devices, digital currency wallets and a further $18,200 worth of Bitcoin from a unit at Hurstville.

Detective Superintendent Matt Craft said it was the first arrest by the cybercrime squad relating to non-compliant digital currency providers in NSW.

“While cash is still king, digital currencies are fast becoming the preferred choice for organised criminal networks involved in money…

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