450.000 users to buy drugs using crypto on Swedish darknet

by in Cryptocurrency News

Flugsvamp 2.0 drugs bitcoin

Sweden’s biggest narcotics marketplace Flugsvamp 2.0 (en.toadstool) took the biggest hit with more than 450.000 cryptocurrency wallet addresses have been recorded, clustered and the culprit behind this has been brought into custody, with trial to be expected at the beginning of March.

Darknet has been known as the home of illicit content and markets offering prohibited goods for sale.

Flugsvamp 2.0 has dominated the national online drug market. Swedish police had to receive support from 25 countries, more than 79 locations and at least 14 different ISP’s, including comprehensive support from both national as well as international Law enforcement, Fintechs and technological partners which helped them in a thorough investigation.

Related: A US citizen is accused of trading drugs for Bitcoin!

A 27 years old Swedish tax resident from Lund in Sweden is suspected to be administering the program form behind as nearly 50000 bitcoins were collected with the help of the platform. He earned nearly 1814 BTC (ca 17M Euro) by taking a commission of 3% from every transaction.

The suspect denied the charges but till now remains in the custody of Swedish authorities as four other connected individuals have already been facing charges. Besides this, the suspect is also facing charges with acquiring and transporting about 6 kg of cannabis on at least 915 random locations.

The suspect is expected to return 1814 bitcoins to the Swedish state while the police said that about 600 other sellers have distributed at least 325000 narcotic products and it is just the initial part of a massive investigation. Although 450.000 connected crypto wallet addresses have been released this will result in a massive investigation keeping in mind that only a moderate size of experienced investigators know the technicality and complexity of blockchain analysis.

German Police also accelerated the investigations after an illegal server hall was found in a former bunker.

Trending: Coinbase wallet users get direct access to cryptocredit

As this new platform will be in the spotlight for some time, the dark games between Law enforcement authorities and the Dark web will restart again. Well at least, now the score is 1:0 because of the job that Swedish Law Authorities pulled.