Three suspects accused of operating an illegal cryptocurrency exchange have been arrested in three French cities and 388 bitcoins seized by the French police. The coins worth is estimated at $272,800 at current prices. The arrest came after a tip off from a retired policeman who purchased bitcoin on the illegal platform.
The arrest marks the first time a virtual currency exchange has bee closed in Europe and bitcoins seized.
Potential charges of illegal banking, money laundering and operating an illegal gambling website are also being examined.