1071 BTC Seized in Israel. Linked to Credit Card Money Laundering Scheme

Indictment issued against Hilmi Git for committing 20,000 fraudulent transactions using credit cards to launder funds through Bitcoin

Ramy Caspi
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Israel’s State Attorney has issued an Indictment against Hilmi Git, an Israeli citizen, for committing fraudulent activities linked to credit card fraud and Bitcoin money laundering activities amounting to $7.8 Million.

Hilmi Git created a network of websites and user forums, where he provided information on how to commit a range of offences such as: as using stolen credit card information, or purchasing ‘fresh’ credit card data. In addition to providing users credit card information, Hilmi also created user guides on how to violate the country’s computers and money laundering act, which is against the law.

Hilmi’s operations started in 2008 and involved up-to 800 Israeli credit cards which he acquired over the course of ten years. The indictment further claims that he also operated an online mobile phone store scam, where customers would purchase devices, and then were subsequently blocked from those websites. Hilmi would then create fictional reviews in the names of those ‘buyers’ and mislead the next victims.

The Israeli State Prosecutor alleges that Hilmi requested all payments must be made in Bitcoins. A total off 1071 BTC were seized during the raid.

This is a landmark case for the State of Israel, which has been very active in the Bitcoin space. The seizure of Git’s crypto wallet marks the first time in the history of Israel that BTC funds have been confiscated by police. It also could set a precedent. That is if he’s convicted, in the country for the legal seizure of crypto assets.