Israeli Police Arrest Five in Investigation Into $5 Million Crypto Transactions

Shenchao TechFlow, November 13 — According to Cointelegraph, Israeli police arrested five people on Tuesday in a money laundering investigation involving approximately 16 million shekels (about $5 million), with related crypto transactions arranged through a WhatsApp group. Investigators from the Lahav 433 Economic Crimes Unit suspect the group provided crypto services without a license and failed to report transactions to Israeli tax authorities. Police said the group used sham agreements to make crypto proceeds transferred into bank accounts appear as loans.

Authorities seized wallets, computers and tens of thousands of shekels in cash during searches of suspects' residences. Investigators questioned the five on suspicion of money laundering, fraud and providing financial asset services without a license.

Source: Shenchao TechFlow