Israel Police arrested five suspects Nov. 10 in an investigation into an alleged unlicensed cryptocurrency trading network operating through a WhatsApp group used to facilitate exchange transactions.
Police suspect the five failed to report transactions to tax authorities and routed cryptocurrency proceeds into bank accounts while presenting them as loans. Police estimate the activity under investigation at about NIS 16 million.
The investigation is ongoing.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to [email protected].
