ALICANTE / LONDON (IT BOLTWISE) – In a large-scale, cross-border operation, Europol has tracked down $55 million worth of cryptocurrencies linked to a network of illegal streaming and IP infringement services. This action aims to destroy the financial basis of digital piracy and break the anonymity of cryptocurrencies.
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In an unprecedented international operation, Europol has successfully tracked down approximately $55 million worth of cryptocurrencies linked to a wide-ranging network of illegal streaming and copyright infringement services. This action is part of the Intellectual Property Crime Cyber-Patrol Week, carried out in collaboration with the European Union Intellectual Property Office (EUIPO) and the Spanish National Police. The goal of this intensive five-day operation was to dismantle the financial infrastructure of digital piracy.
A key aspect of the operation was to combat the trend of digital criminals abandoning traditional banking methods in favor of cryptocurrency payments. Many operators of illegal services mistakenly believe that cryptocurrencies offer them anonymity. But investigators were able to use this method against them by purchasing cryptocurrencies themselves for illegal services. This enabled them to uncover the identity of the criminal actors, identify the associated crypto accounts and track the flow of money.
Europol emphasized that this strategy aims to hit the pirates where it hurts them most: their money. By identifying, tracking and closing these crypto accounts, authorities hope to directly disrupt the criminal income stream. This method is seen as crucial to protecting global economies and creatives.
The coordinated effort, involving 30 investigators in Alicante, Spain, used advanced open source intelligence (OSINT) techniques and state-of-the-art online investigative tools. The resulting disruption was significant: 69 websites were identified and targeted, 25 illegal IPTV services were immediately forwarded to partner crypto service providers and major exchanges for disruption. These 69 targeted websites are estimated to attract over 11.8 million annual visitors, illustrating the vast scale of the digital black market being targeted.
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