Japanese Officials CATCH18 People Involved in Monero Money Laundering

The Japanese first made a record by arresting 18 suspects for conducting money laundering business through the Monero (XMR) digital currency. Under the Cyber Special Investigation Unit and Saitama Police, the investigation focused on the tracking of fraudulent transactions through the stolen credit card data. Yuta Kobayashi, who is named as the mastermind, manipulated Monero to wash 99 million yen or $670,000 through 900 transactions. It has taken a significant milestone in the Japanese investigative agency as Monero was hard to trace before now. The case raises increasing questions about the involvement of Monero in criminal activities.