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Arizona-based Bitcoin Trader Charged With Money Laundering

Israel Citizen Charged With Money Laundering, Used Bitcoin

Reading Time: 2 minutes by on May 23, 2018 Bitcoin, Crime, News, Tech

Halmi Git was charged Monday for credit card fraud of 1 million NIS and 31 million NIS of money laundering through bitcoin.

800 Cards, 20,000 Transactions  

Git obtained his funds through running illicit forums, sharing and selling credit card details for over a decade. Over 800 credit cards were affected in over 20,000 transactions, resulting in nearly $3,000,000 of fraud activities.

2 Websites For Illegal Activities

The citizen of Hebron began operations in 2008, with his first website “Albork.” Operations continued until it was shut down in 2014. Later that year he set up another site named “Atlanan,” but it was only online for one month.

Users could join the forum for free but needed to pay a VIP fee to get details about stolen credit cards. Git also posted guides on how to hack computers to take control of servers remotely.

Money was also made through selling cell phones at a reduced price, obtained illegally of course. Once a user transferred money, Git would block the user from the site and pocket the money himself. He would then post reviews on the forum using the blocked user’s account, to vouch for himself.

All payments were made in bitcoin, to obscure any links back to him. Multiple wallets were used, mixing services were implemented, and even property he owned was put under the names of relatives.

 

Over 1000 Bitcoins, “We Will Take Money From Wherever”

In total, 1017 bitcoins ($8.4 million) was laundered. Git included this quote in English, in the request for his arrest.

“We are thieves, from wherever we can take money – we will take it, no matter where – from Israel, the US or even the moon – we will reach it and use it.”

As more countries from the middle east are purchasing bitcoin due to unstable government currencies, it’ll be interesting to see how regulation responds.

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