One WhatsApp group, 16 million shekels: The suspicion that led to the arrests

Five suspects were arrested on suspicion of operating a cryptocurrency trading network through a WhatsApp group, totaling approximately 16 million shekels. According to the suspicion, funds from crypto transactions were transferred to legitimate bank accounts while being presented as loans, and fictitious loan contracts were even drawn up to give the transfers the appearance of legal activity. Investigators from the Lahav 433 unit raided the suspects' homes this morning and seized wallets, computers, and tens of thousands of shekels in cash. The suspects are being questioned by the Lahav 433 unit on suspicion of offenses under the Prohibition on Money Laundering Law, providing a financial asset service without a permit, and obtaining something by deception. Police estimate that some of the transactions were carried out in amounts of hundreds of thousands of shekels without reporting to the tax authorities, and the investigation is ongoing.