Police Target Crypto Wallets Linked to Freedom Convoy
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Police Target Crypto Wallets Linked to Freedom Convoy

7 months ago

The Royal Canadian Mounted Police has written a letter that warns crypto exchanges that they must disclose any information about transactions that are linked to 34 addresses.

Police Target Crypto Wallets Linked to Freedom Convoy

Зміст

Police in Canada have told crypto exchanges to "cease facilitating any transactions" with dozens of wallet addresses as a clampdown on the Freedom Convoy movement continues.

Hundreds of truckers have been protesting against COVID-19 restrictions, with the government declaring that unvaccinated drivers will be turned away at the country's border with the U.S.

Millions of dollars had been raised in support of the truckers through GoFundMe, but the crowdfunding site pulled the plug on the campaign after violence was reported at the protests.

About $1 million in Bitcoin was subsequently raised through a decentralized alternative called Tallycoin — with donors from around the world contributing 22 BTC to a page set up by HonkHonk Hodl. But now, it appears law enforcement agencies are attempting to stop these funds from being used as well.
Earlier this week, Canadian Prime Minister Justin Trudeau invoked the Emergencies Act for the first time ever — and officials broadened the scope of anti-money laundering and terrorist financing rules so they cover all crowdfunding sites, including those that support cryptocurrencies.
The Royal Canadian Mounted Police has written a letter that warns crypto exchanges that they must disclose any information about transactions that are linked to 34 addresses — which include Bitcoin, Ether, Monero, Litecoin and Cardano wallets.

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Cracking Down

It's unclear how successful Canada will be in stopping those involved in the Freedom Convoy movement from accessing this crypto — and some critics have described the measures as undemocratic.

On Tuesday, Coinbase CEO Brian Armstrong had shared a video of Canada's Deputy Prime Minister Chrystia Freeland announcing the clampdown on digital assets, adding:

"Concerning to see stuff like this happening in any country, especially such an economically free place like Canada. Self-custodial wallets are important!"

Ottawa's police chief has resigned as the unrest continues for a third week — and protesters blocking the streets in the capital's downtown district have been told they risk arrest unless they leave the area now.

In a strongly worded warning, interim police chief Steve Bell said officers have a "methodical and well-resourced plan" to remove this "unlawful" protest in the coming days, adding:

"Some of the techniques we are lawfully able and prepared to use are not what we are used to seeing in Ottawa. But we are prepared to use them where necessary to bring about the safest outcome and restore order."

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