Batna, Algeria: cryptocurrency ring dismantled, 2 billion centimes seized
By the AFREEQUE newsroom, based on Algérie 360
Four men aged 24 to 38 have been brought before the Batna prosecutor’s office after a group suspected of illegally trading cryptocurrencies online was dismantled. Investigators seized more than two billion centimes in profits, as well as vehicles and computer equipment, according to Batna police.
Four men aged 24 to 38 have been brought before the Batna prosecutor’s office in eastern Algeria, after a group suspected of trading cryptocurrencies online was dismantled, according to Algérie 360. The operation, carried out by the anti-cybercrime brigade, led to the seizure of profits estimated at more than two billion centimes, as well as several vehicles and computer equipment.
The investigation began with monitoring of social media, where accounts promoted the buying and selling of virtual currencies to the Algerian public. Searches turned up 244 million centimes, 1,125 euros, two passenger cars, a motorcycle, a laptop, four mobile phones, five Edahabia cards and two electronic payment cards.
The suspects face charges of buying, holding, using and marketing virtual assets, although the Algerian finance law prohibits any transaction involving these currencies. They are also being prosecuted for breaching foreign exchange regulations, offering prohibited services electronically and money laundering in digital form, according to Algérie 360.
