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.

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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.

Auscoin Exchange Suspended After Arrest of Sam Karagiozis

Authorities have also revealed that one of the…

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Source: https://thebitcoinnews.com/auscoin-exchange-suspended-after-arrest-of-sam-karagiozis/