Israeli Police Say a WhatsApp Chat Ran a $5 Million Crypto Laundering Ring

TLDR Israeli police arrested five people in a probe of about 16 million shekels ($5 million) in crypto trades. Police say the group used fake loan deals to make crypto proceeds look legal in bank accounts. The trades were arranged through a WhatsApp group, according to investigators. A 2024 state audit found only about 500 people a year reported crypto activity, out of at least 200,000. Israel Discount Bank will let customers trade Bitcoin and Ether in its app from Nov. 26. Israeli police have arrested five people in a money laundering case tied to about 16 million shekels, or roughly $5 million, in crypto transactions. The arrests took place on Tuesday. Police say the activity was arranged through a WhatsApp group.

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