U.S. and Dutch authorities destroy VerifTools, a platform that uses cryptocurrencies to trade false identities

PANews reported on August 31 that according to Decrypt, Dutch and U.S. law enforcement agencies have seized VerifTools, an online fake ID card trading platform, which sold counterfeit documents in cryptocurrency as low as $9, and seized 23 servers in the operation. The FBI determined that the market had generated approximately $6.4 million in revenue. Dutch authorities estimate Veriftools’ annual turnover is approximately 1.3 million euros (about 1.5 million US dollars), making it one of the largest providers of fake identity documents in the world. The market works by requiring users to upload passport photos and enter fake data, which the website operator will then use to generate fake IDs. FBI agents were able to order fake driver’s licenses in New Mexico and use cryptocurrency to pay for fake ID documents – although the specific cryptocurrency used has not been determined.