In an effort dubbed “Operation Hyphen,” Kraken, the renowned cryptocurrency exchange, collaborated with the South East Regional Organised Crime Unit (SEROCU) to recover and return over $2 million worth of stolen cryptocurrency linked to a major crypto scam.
Scammer Receives 4 Years In Prison For 10 Million Euro Crypto Heist
The investigation centered around the fraudulent website “iotaseed.io,” created by Wybo Wiersma, a 40-year-old individual from the Netherlands. Wiersma allegedly exploited “unsuspecting victims” by offering an alleged secure platform for generating 81-digit IOTA crypto seeds.
However, without the users’ knowledge, the seed phrases were predetermined by Wiersma, allowing him to gain control over their tokens.
According to a statement from the UK’s Organized Crime Unit, between 2017 and 2018, Wiersma transferred more than €10 million worth of IOTA tokens from multiple victims to various cryptocurrency trading accounts.
This illegal activity came
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