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Bitcoin against flowers: Europol takes money counterfeiting Ring

The European police office (Europol) has one of the largest counterfeiting gangs in the continent arrested. They sold fake money against Bitcoin. By Phillip Ho

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Bitcoin against flowers: Europol takes money counterfeiting Ring

The European police office (Europol) has one of the largest counterfeiting gangs in the continent arrested. They sold fake money against Bitcoin.

By Phillip Horch
11. September 2019BTC$10.004,20 -2.39%part Facebook Twitter LinkedIn xing mail

The Portuguese police is a blow against a money counterfeiting Ring that sold fake money against the Bitcoin managed jointly with Europol. According to Sputnik news, the police seized in addition to devices for the money-around € 70,000 in counterfeit money.

According to the magazine, Manuel Mourato of the Portuguese police estimates the quality of the counterfeit money high:

in addition to holograms, the Bank notes also contain the Imitation of ink, and watermark. The Bank notes have many security features. It is one of the high quality counterfeits that were seized in Europe.

The police has arrested five people. The head of the group was apparently found in Colombia and shipped. As Sputnik news reports, he gestured to the production of the flowers, depending on the order situation. Orders over a Darknet marketplace came in, produced the Rest of the team, the money then in the Portuguese branch.

Bitcoin: The error of the forger

With all the quality of the "flowers" appeared to be the counterfeiters in terms of darknets and crypto-currencies, however, be less well versed. So you were apparently in Bitcoin to pay. They overlooked, however, that the basic technology of the currency is transparent and only for Pseudonymity provides. In other words, the Blockchain flows of money are easy to track for things that should be done in Secret, the Bitcoin System is rather inadequate.

banknotes still in circulation

However, the gang managed according to the press information, to produce a total of over a Million euros. In circulation, these were finally in Germany, France, Spain and Portugal. In spite of the detection of the gang, it was likely that a few notes are in circulation:

often, they are recognized only at the time of Deposit. For the purposes of normal trading is Bank notes, which can easily go under. Those fake Bank notes, were warned not to try to use it to any other Person, since this is a crime. You must report to the authorities [...],

the coordinator of the criminal investigation Luís Ribeiro to Sputnik news alerts.

Bitcoin & co. in Portugal

recently the news made the round that Bitcoin transactions and trading of crypto-currencies in the European country are exempt from tax. The same applies to "Mine" the crypto-currency. Thus, Portugal is pursuing a crypto-friendly policy that sets it apart from most of the European countries.

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