According to Foresight News, a joint task force consisting of the National Police Agency's Cyber Special Investigation Division and nine prefectural police forces arrested 26-year-old Yuta Kobayashi, whose address and occupation are unknown, on suspicion of using computers to commit fraud.
Kobayashi is believed to be the ringleader of the group, which lost more than 100 million yen ($667,100). The group abused the highly secretive Monero in an attempt to launder the money, and Kobayashi's identity was discovered by tracing the flow of funds.
The National Police Agency said this is the first time in Japan that Monero has been analyzed and a suspect has been identified.
