Feeds

Gendarmes grab French Bitcoin exchange in €200k sting

Liberté, Égalité, but not crypto-currency

Security for virtualized datacentres

The operators of an illegal French Bitcoin exchange have been collared by the gendarmes and their Bitcoin holdings confiscated.

A sketchy story out of Reuters says that the raid netted €200,000 worth of the crypto-currency, but doesn't outline what specific laws the exchange is accused of breaking.

The Reuters story merely states: “Two people in the Riviera coastal cities of Cannes and Nice were placed under formal investigation on Friday and detained on suspicion that they operated a website which illegally sold and lent Bitcoins to its users.”

It adds that the people charged were also under investigation for possible “illegal banking, money laundering and illegally operating a gambling website” charges.

French outlet Le Point is more forthcoming. It explains that three people, not two, were arrested (the third was in Toulouse and seems to have been released).

“The respondents were the administrator of this illegal site, his wife and one of its suppliers”, Le Point states.

As well as 388 Bitcoin (€200,000 at the time of the arrest), the gendarmes also seized €9,000 in cash, along with credit cards and computer hardware (since the only way to “seize” a Bitcoin is to confiscate the machine holding the relevant data).

The police explained to Le Point that the site was operating without the approval of the Autorité de Contrôle Prudentiel et de Resolution – France's banking supervisor – and between November 2013 and July 2014 had handled 2,750 transactions on “at least 2,500 Bitcoins”. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.