Japanese police arrest leader of credit card fraud scheme suspected of using Monero to launder 100 million yen

Yuta Kobayashi, a 26-year-old Japanese man, has been arrested in Japan on suspicion of using the cryptocurrency Monero to launder money in a 100 million yen ($665,800) credit card fraud scheme. The arrest followed an extensive investigation by Japan's Cyber ​​Special Investigation Unit and police forces from multiple prefectures. Kobayashi is suspected of leading a group that used stolen credit card information to conduct fraudulent transactions, and the group attempted to use Monero to conceal the flow of funds. Investigators were able to track Monero transactions, the first case in Japan where such analysis led to an arrest. The group is accused of conducting approximately 900 fraudulent transactions using stolen credit card details between June 2021 and January 2022. Investigators believe the stolen credit card information was obtained through phishing tactics such as fake websites and deceptive emails. (Nikkei)