$5 million worth Bitcoin [BTC], Stellar Lumens [XLM] and other cryptos impounded in Europe’s LSD raid

Bitcoin [BTC], IOTA [MIOTA], Stellar Lumens [XLM], worth $5 million and other cryptocurrencies along with 800,000 doses of LSD were confiscated by the authorities in Europe as a part of one of the largest drug raids of the continent. Eight people were taken under arrest by the Spanish Guarda Civil and Austrian Federal Police who conducted the raid with Europol, the European Union Agency for Law Enforcement.

According to an article from the EU Reporter published on June 28th, the substances that were distributed were LSD, synthetic marijuana, nootropics, depressants, dissociatives, stimulants such as amphetamines or cathinones, and synthetic opiates. The raw materials for the psychedelic substances were exported to a laboratory situated in Amsterdam, Netherlands. Following this, they delivered the products to the laboratories in Spain.

The raid also seized $2.7 million in cash and bank accounts, three pieces of real estate with a valuation of $1.15 million and ten luxury vehicles. Europol said in a statement that two of the web pages managed by the organization enjoyed a great reputation, being the most known and exclusive worldwide in this field.

According to the law enforcement officials, the individuals had been working from Spain since 2012 and sold the drugs via the Darknet. The authorities describe them as an “organized crime group”.

In 2017, the U.S. gained $48 million from the sale of Bitcoin from the shut down of the infamous Silk Road online drug market. In January 22nd, 2018, U.S. marshals auctioned off $52 million worth of bitcoin, seized from drug dealers. In 2017, a report named “Drugs and the Darknet: perspectives for enforcement, research, and policy.” was published by the Europol and EU drugs agency EMCDDA.

The report provides an insight into the functioning of the Darknet, the threats they present to the security and how effectively Europe can respond.

The post $5 million worth Bitcoin [BTC], Stellar Lumens [XLM] and other cryptos impounded in Europe’s LSD raid appeared first on AMBCrypto.