Japan arrests six in probe over ¥91 million crypto laundering operation

Arrests focus on alleged concealment of fraud proceeds

According to Japanese authorities cited by local media, the six suspects were arrested on suspicion of violating the Organized Crime Punishment Act by concealing criminal proceeds. The investigation is being conducted jointly by the Tokyo Metropolitan Police Department and the National Police Agency’s Special Cybercrime Investigation Department.

Investigators believe Weather, a company based in Izumisano in Osaka Prefecture, received money connected to investment fraud conducted through social media. Police allege that ¥4.4 million entered the company’s bank account on February 16, 2024, and that the funds were then converted into cryptocurrency through overseas channels in a way that obscured their origin.

Authorities have not publicly disclosed the identities of the other four suspects. Their responses to the allegations have also not been released, and the arrests do not by themselves establish guilt.

How investigators say the transfers were handled

Police suspect Weather’s corporate account served as the first destination for money taken from victims. After the funds arrived, the suspected operators allegedly arranged to convert them into cryptocurrency using trading routes outside Japan.

Japanese broadcasters reported that Shibuya is suspected of helping send the digital assets back to the organization behind the original scams, in some instances on the same day the bank transfer was received. Separate reporting described a structure in which ordinary bank accounts collected the money, while cryptocurrency transfers were used to move it onward through intermediaries.

Some accounts of the case mention Bitcoin and USDT as assets involved in the suspected conversions. However, the reviewed police and media reports did not verify how much was moved in each token, and authorities have not published wallet addresses, transaction hashes, or exchange account details. They also have not said whether any of the suspected proceeds were recovered.

Broader inquiry centers on ¥91 million and about 30 victims

While the arrests concern the initial ¥4.4 million transaction, investigators are looking at a much larger flow of funds. Jiji Press reported that police are examining roughly ¥91 million believed to have passed through the operation over a two-month period in early 2024.

That money is suspected to be linked to social media investment scams affecting about 30 people in 15 prefectures. The larger figure reflects the amount under investigation, not a criminal loss confirmed by a court.

Police also suspect the company took a commission of about 1% for converting the proceeds into cryptocurrency. If applied across the full ¥91 million, that would amount to about ¥910,000, though authorities have not confirmed that the suspects actually received that full sum. ANN reported that three company executives, including Tanaka, allegedly directed the arrangements.

What comes next and the wider backdrop

Jiji Press said investigators planned to refer Weather itself to prosecutors on October 9 on suspicion of concealing criminal proceeds, although a separate confirmation that the referral was completed was not available in the reviewed reports. No prosecution timetable or trial date for the six suspects had been disclosed when the arrests became public.

The case comes as Japan steps up scrutiny of fraud tied to cryptocurrency transfers. In August 2026, the Financial Services Agency called on domestic crypto exchanges to strengthen safeguards, including withdrawal delays, closer transaction monitoring, and additional checks on suspicious transfers. Authorities have not said whether the funds in the Weather investigation passed through licensed Japanese exchanges or which overseas services may have been used.