FinMin Pierrakakis visits Anti-Money Laundering Authority; first crypto asset seizure in Greece
Minister of Economy and Finance Kyriakos Pierrakakis visited the Hellenic Anti-Money Laundering Authority on Tuesday.
One of the Authority's latest successes concerns the identification and seizure of a quantity of cryptocurrency derived from the largest theft in the history of the industry. Indicative of the magnitude and importance of this case is the fact that the Federal Bureau of Investigation (FBI) issued a public notice (alert) informing the public of a transaction freeze.
In May, the Authority received information that led to the detection of a suspicious cryptocurrency transaction involving a registered user on a Greek exchange service provider platform.
From the subsequent audit, it was discovered that the user had received a substantial amount of Ethereum in his crypto wallet, which originated from the largest theft in the history of the cryptocurrency industry. The incident occurred at a prominent cryptocurrency exchange earlier this year and was linked to a hacking group.
A commitment order was issued for the crypto wallet in question by the Authority. A report was also drawn up, and a report was forwarded to the relevant prosecuting authority.
"The Anti-Money Laundering Authority is the foundation of the national effort to strengthen transparency, prevention and suppression of financial crime. The freezing of over 700 million euros in criminal assets in one year shows in practice that the institutions can work with speed, efficiency and transparency. The Ministry of Economy and Finance, recognising its critical role, provides institutional support for its work. It is investing over 1 million euro to upgrade its information systems, strengthening its technical autonomy and operational readiness. The Authority is staffed with highly qualified and experienced personnel, able to respond to all challenges - among them, financial transactions with cryptocurrencies," Pierrakakis said.