Europol Seize Six-Figure Worth of Crypto from Dark Web Raid

Wilfred Michael 

Wilfred Michael

News reporter

04 May 2019,
Europol Seize Six-Figure Worth of Crypto from Dark Web Raid

A group of Federal Police authorities in Germany and Finland collaborated with Europol to execute a raid on what an official press release describes as “two prolific dark web market places.”

Wall Street Market and the Silkkitie (also Valhalla) reportedly hosts a majority of dark web experts selling drugs, malicious software, stolen data from businesses and other fake documents.

However, their activities were busted by the German Federal Criminal Police (Bundeskriminalamt) and Finnish Customs (Tulli) respectively according to the Europol announcement.

Writing on the raid of Wall Street Market, the second most significant dark web market place, Europol confirmed that the now-defunct space was home to over 1.1 million users with more than 5400 registered sellers.

The raid by the authorities led to the arrest of three suspects as well as the seizure of cash worth €550,000 (appr. $616,600) and Bitcoin and Monero cryptocurrencies in the six-figure region.

While the release does not give more detailed information about the raid on the Silkkitie by the Finnish Customs, it did mention that authorities made “a significant bitcoin seizure” from the market place which has existed since 2013.

Meanwhile, the latest development marks the second notable success of the European Police authorities in identifying crypto criminals despite the highly anonymous and sophisticated technology behind it.

In the other event, reported that Europol arrested a 36-year old mean believed to be the mastermind behind an $11 million crypto theft in IOTA tokens which happened in early 2018.

On the broader scale, authorities have also recorded success in hunting down crypto fraudsters with a Canadian court recently convicting a dark web expert, Matthew Phan and ordering the seizure of 281.41 BTC earned from his allegedly illegal online activities.


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