Electrum Bitcoin Wallet Scam Suspect Is Arrested by Dutch Police

A 39-year-old man was arrested in the Netherlands last week on suspicion of laundering stolen funds using malicious software said to be linked to crypto wallet service Electrum.

The unidentified man was detained in Vinendaal, about 35 miles southeast of Amsterdam, and released on September 8. He remains a suspect and his crypto has been seized, Dutch cyber police said in a statement on Tuesday.

Cryptocurrencies, like ordinary money, are vulnerable to all types of crime, police said. The anonymous and cross-border nature of cryptocurrencies provides opportunities for criminals.