Spain Continues Money Laundering Probe Into Arbistar Bitcoin Wallets

TLDR Wallets tied to Arbistar moved more than 20,000 bitcoin between January and March 2021. The transfers were worth over $1.1 billion at the time and about $1.6 billion today. About 881 bitcoin was sent to outside wallets as the platform collapsed in September 2020. Arbistar affected up to 32,000 investors and promised weekly returns of about 28%. Founder Santiago Fuentes Jover was sentenced to 16 years in prison. Spanish police say digital wallets tied to the failed crypto platform Arbistar moved more than 20,000 bitcoin after the company collapsed. The transfers were worth over $1.1 billion at the time.