European police arrest British suspect in $11 million crypto theft

An unidentified British man has been arrested in Oxford after a year-long investigation into a €10 million (around $11.3 million) crypto theft, according to a Europol press release.

Police arrested the 36-year-old suspect Wednesday on suspicion of fraud, theft, and money laundering. The hack, which targetted users’ iota tokens, is believed to have affected around 85 victims. German police opened the case last January after local citizens reported crypto had been stolen from their wallets. When authorities traced the suspect to the UK, the EU’s police agency took over the investigation, which involved the corroboration of a series of police task forces.

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