Israeli police arrest five in $5M WhatsApp crypto trading probe
Summary
Israeli police arrested five people suspected of laundering about 16 million shekels ($5 million) through crypto transactions arranged in a WhatsApp group. Authorities allege the group operated crypto services without a license, failed to report transactions to tax authorities and used fictitious loan agreements to disguise proceeds entering bank accounts. Police seized crypto wallets, computers and cash. The arrests follow separate Israeli investigations into suspected failures to report crypto activity, including trades worth tens of millions of dollars. A 2024 state audit found roughly 500 people reported crypto activity annually from 2018 to 2022, despite at least 200,000 potential filers.
