Ethereum is the second-largest cryptocurrency after Bitcoin. Although the majority of crypto transactions are legitimate, many are also fraudulent. Criminals take advantage of the anonymous and international nature of digital currencies. These crimes often include Money Laundering, Terrorism, Tax Fraud, and Drug Trafficking. Security continues to remain a heavily debated topic in the crypto space. Recently, security agencies of the world have had to increase their efforts in tracking down cryptocurrency scams. The UK has not been left out of this as British agencies have been clamping down on these illegal activities. Related Reading | Ethereum (ETH) Steadies Above $3K, What Could Trigger Fresh Drop The UK police have recently been active in seizing cryptocurrencies. Deputy Assistant Commissioner Graham McNulty said some criminals have moved “to more sophisticated methods” to launder money, such as using cryptocurrencies. UK Police Seize Ethereum In USB Stick The UK police have recently seized crypto worth $22.25 million from operators of an international cryptocurrency scam. This includes Ethereum worth $9.5 million found in a USB stick. The police announced on their website, “A sum of $22.25 million (equivalent to just over £16 million) was seized by specialist officers from Greater Manchester Police’s Economic Crime Unit after intelligence led to the discovery of USB sticks containing huge amounts of Ethere...
