Home Blockchain News Bitcoin ATM Firm ‘Auscoin’ a Front for International Drug Smuggling Ring: Australian Police

Bitcoin ATM Firm ‘Auscoin’ a Front for International Drug Smuggling Ring: Australian Police

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By CCN.com: As bitcoin entrepreneurs who founded the fast-growing Auscoin Bitcoin ATM business in Australia, there was nothing suspicious about Steen McBeth and Sam Karagiozis leading a flashy lifestyle including driving Lamborghinis and BMW motorcycles. Australian police, however, now allege that the duo’s cryptocurrency business was just a front for an international drug-dealing operation. The two men are now in custody facing various charges all relating to drug-smuggling operations, according to the Daily Mail. According to the Australian police, the drugs were acquired on various darknet sites and then shipped to Australia. Their customers often paid in bitcoin, per the

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* First published on ccn.com

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