Australian authorities shut down two crypto exchanges on criminal charges

Discussion in 'Cryptocurrencies' started by mlawson71, Mar 11, 2019.

  1. The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced that it has taken the licenses of two crypto currency exchanges, after a police investigation linked their operations to drug trafficking.

    This is the first case, in which AUSTRAC acts in such a manner after a new law, adopted in April 2018 and aimed at tightening the anti-money laundering control, broadened the agency’s scope of responsibilities over all crypto exchanges in the country.

    The Australian Police and AUSTRAC came with a joint statement, citing the arrest of a “key person”, in the management of the two crypto exchanges, in connection to importing, trafficking and possessing of about 30 kg of prohibited substances, including cocaine.
    murray t turtle likes this.
  2. Why would anyone who is making thousands of dollars running an exchange decide to sell drugs on the side? Maybe life wasn't risky enough for them? Blows my mind...
  3. schweiz


    It is called "diversification" to spread the risk. He uses at least risk management. :D

    But he focused on the wrong risk... :D:D:D
    murray t turtle likes this.
  4. %%
    Bit con + related could live its name;
    spell checker not used.:cool::cool:
  5. They were laundering money. The exchanges themselves may not have been that profitable.