As part of their investigation into the extensive trafficking in private data, police cybercrime investigators in Oost-Nederland retrieved cryptocurrency and non-fungible tokens (NFTs).
A 19-year-old Hilversum man and a 23-year-old Weesp man were arrested as a result of that investigation, which was publicized earlier this month. They were both apprehended at their residences roughly two weeks ago.
The police noted in a statement that this is the first time a Dutch investigating department has seized NFTs.
NFTs are one-of-a-kind, cannot be duplicated, and are frequently utilized as digital assets to represent ownership rights to a physical object. They can symbolize actual property ownership, but they're more commonly used for intellectual property, such as digital art, video game items, movie visuals, or music.
In a statement, the police said,
"A non-fungible token is an individual, unique, digital record on a blockchain. NFTs are particularly popular as ‘digital art’, the most famous of which are images of monkeys, cats, or punks. These pictures are unique and, in some cases, worth millions of euros."
"Because NFTs symbolize value, they can be used as profits of illegal activity," the police said. "This is commonly done with costly cars or huge sums of money, for example."
Messages in a chat service were used to identify the two people detained in the case.
The sensitive data at the core of the investigation, according to the authorities, is frequently utilized in cyber scams such as identity fraud, bank helpdesk scams, friend-in-need schemes, and even stalking.