Tackling Crime in a Digital Age

Theft of Cryptocurrency

Cryptocurrency theft and fraud has increased more than 2000% since 2019, and in this financial year alone, Police Scotland has dealt with 47 requests to track and trace transactions.

On 27 March, Police Scotland was made aware of a theft of around £1m worth of cryptocurrency coins. A number of investors had purchased VOW coins on a virtual ‘structure’ known as Blockchain prior to the coins being released on the open market. Following that purchase, customers discovered their crypto currency wallets had been accessed and funds emptied.

Police Scotland analysis has recovered coins to the value of £563,000 and work is continuing between COPFS and other law enforcement partners including the National Crime Agency around additional investigative opportunities. This represents a landmark achievement and is the first time UK Law enforcement has been able to achieve this.

Cybercrime arrests

On 4 and 5 April, officers from Police Scotland’s specialist Cybercrime Unit arrested two men, aged 31 and 43 years, and executed a number of warrants in a global operation to target one of the biggest dark web marketplaces, Genesis Marketplace, selling stolen credentials to criminals worldwide.

Genesis Marketplace was a dark web marketplace seeking to defraud victims, having hosted approximately 80 million credentials and digital fingerprints stolen from over two million people across the world.

Enforcement activity took place at four addresses in Dunfermline, Glasgow, Carluke and Aberdeen, as part of an operation led by the FBI and Dutch National Police. The UK operation follows an investigation of the site by the FBI and forms part of international action in 17 countries.

This action underlines Police Scotland’s commitment to tackling all forms of serious and organised crime. We will continue to work in partnership with law enforcement agencies in this country and abroad to target and disrupt this sort of activity.