latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Auscoin Exchange Suspended After Arrest of Sam Karagiozis

Auscoin Exchange Suspended After Arrest of Sam Karagiozis
27-year-old Sam Karagiozis has been named as the individual arrested on March 7 following raids carried out by the Australian Transactions Reports and Analysis Centre (AUSTRAC) and Australian Federal Police. The arrest resulted in the suspension of the licenses of two cryptocurrency exchanges that Karagiozis is involved with including his controversial nationwide cryptocurrency ATM network, Auscoin.
Also Read: Malta Appoints Cybersecurity Firm Ciphertrace to Monitor Crypto Transactions
Auscoin Suspended Following Arrest of Founder
Karagiozis was arrested last week following a series of raids conducted by Australian authorities in the Victorian suburb of Bulleen.
Karagiozis has been charged with possessing, importing, and trafficking roughly 30 kilograms of controlled substances, including MDMA, methamphetamine, cocaine, and ketamine via darknet marketplaces. Police allege that Karagiozis played a “key role” in directing the operations of an illegal narcotics syndicate.

Authorities have also revealed that one of the cryptocurrency exchanges suspended following Karagiozis’ arrest is Auscoin. It has been reported that Karagiozis invested $15 million into Auscoin, which sought to roll out Australia’s first nationwide ATM network.
Karagiozis a Fixture in Australian Media
Self-described “serial entrepreneur” Sam Karagiozis has received frequent coverage in the Australian media in recent years. Last month, Auscoin was the subject of a report aired on prime time television that described the company’s purported plan to install 1,200 bitcoin ATMs as an “ $80 million scam ” built on “grandiose promises.” At the time, Auscoin had installed four machines in Australia, with purported plans to finance the 1,200 terminals through an initial coin offering.
During January of this year, media reported that Karagiozis had incurred a 3 million Australian dollar (approximately USD $2.13 million) loss during the bear trend. Karagiozis also asserted that Auscoin had a turnover of $500,000 Australian dollars each week.

In January 2018, the Auscoin founder had urged investors to buy BTC, asserting that “The first quarter of [2018] is probably the last opportunity people are ever going to get to buy Bitcoin for under AUD$20,000 a coin.” In December 2017, Australian tennis star Nick Kyrgios indicated that he purchased BTC from Karagiozis.
What is your reaction to the founder of Auscoin’s arrest? Share your thoughts in the comments section below.

Images courtesy of Shutterstock, Twitter

At there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post Auscoin Exchange Suspended After Arrest of Sam Karagiozis appeared first on Bitcoin News . shares this Contents always with License.

Thank you for Share!



Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

Buy Bitcoin online in ANY country, supporting 80+ Payment methods!