- Finland’s National Bureau of Investigation has reportedly traced Monero transactions in connection with the criminal trial of Julius Aleksanteri Kivimäki.
- Kivimäki is accused of hacking a private mental health firm’s database and demanding ransom payments in cryptocurrencies.
- Prosecutors have introduced new evidence showing a crypto trail leading to Kivimäki’s bank account.
- The hacker allegedly received payments in Bitcoin, converted them to Monero, and transferred the funds to a dedicated Monero wallet.
Finland’s National Bureau of Investigation Tracked Monero Transactions
Finland’s National Bureau of Investigation has reportedly been able to trace Monero (XMR) transactions as part of the criminal trial against Julius Aleksanteri Kivimäki. Kivimäki is facing charges for hacking into a private mental health firm’s database and demanding ransom payments in cryptocurrency.
Evidence of a Crypto Trail Leading to Kivimäki’s Bank Account
Prosecutors in the case have presented new evidence that shows a crypto trail leading to Kivimäki’s bank account. The hacker allegedly demanded 40 Bitcoin (equivalent to approximately 450,000 euros at the time) in exchange for not publishing the records of over 33,000 patients from the psychotherapy service provider Vastaamo. When the ransom was not paid, Kivimäki supposedly targeted individual patients.
The Conversion of Bitcoin to Monero
According to Finnish police, Kivimäki received payments in Bitcoin and then sent the funds to a non-compliant exchange that does not follow Know Your Customer (KYC) guidelines. Afterward, the funds were converted to Monero and transferred to a dedicated Monero wallet.
This case highlights the challenges law enforcement agencies face in tracking and tracing transactions involving privacy-focused cryptocurrencies like Monero. The ability to follow the crypto trail and link it to the accused in this criminal trial is significant and could serve as a precedent for future investigations involving privacy coins.