South Korean swaps bitcoins for 2 mln euros in fake notes

phys.org | 8/19/2018 | Staff
Celtics2212 (Posted by) Level 3
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The deal sounded murky from the start: in exchange for bitcoin worth two million euros ($2.3 million), the wealthy buyer would hand over the equivalent sum in cash in a luxury hotel on the French riviera.

The seller, a South Korean businessman with a company specialised in the crypto-currency in Singapore, accepted the proposition nevertheless and met the Serbian buyer in July.

Transaction - Hotel - City - Nice - Notes

But once the transaction was completed in a hotel in the city of Nice, the South Korean realised the 500-euro notes he had been handed were crude, photocopied fakes, police sources told AFP.

After the victim filed a criminal complaint at the end of July, the Serbian man was arrested at a top-end hotel in the glitzy town of...
(Excerpt) Read more at: phys.org
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