On Sunday, October 11, 2026, Crypto News reported that Japanese police have arrested six people on suspicion of laundering proceeds from social media investment scams by routing the money through a staffing firm’s bank account and converting it into cryptocurrency.
According to the report, which cited Japan’s Jiji Press, a joint investigation by the Tokyo Metropolitan Police Department and the National Police Agency’s Special Cybercrime Investigation Department led to the arrests, announced on October 8. The suspects face allegations of violating the Organized Crime Punishment Act by concealing criminal proceeds.
Among those arrested were Keisuke Tanaka, 36, president of the temporary staffing company Weather, and Yusuke Shibuya, 45, a Tokyo resident whose occupation was not disclosed. The identities of the other four suspects have not been released.
Weather operates in Izumisano, Osaka Prefecture. Investigators believe its corporate bank account received money linked to an investment fraud scheme that targeted victims through social media.
The arrests center on 4.4 million yen, about $28,000, that entered the company’s account on February 16, 2024. Police allege the suspects converted the funds into cryptocurrency through overseas channels, making the original source harder to trace. TBS television reported that this initial sum included proceeds from a social media investment scam.
Police are also examining whether the same operation handled roughly 91 million yen, about $580,000, during February and March 2024. According to Jiji Press, the money included suspected proceeds from scams affecting around 30 people across 15 prefectures. Crypto News noted that the larger figure is an amount under investigation rather than a loss confirmed by a court.
Broadcaster FNN described Tanaka as an alleged informal cryptocurrency exchange operator, known in Japan as an “aitaiya,” who arranges direct exchanges between money and digital assets. Authorities believe funds moved from the company’s account into cryptocurrency before reaching Shibuya and other intermediaries. Shibuya allegedly helped return the digital assets to the fraud organization, at times on the same day as the original bank transfer.
Some accounts identified Bitcoin and USDT as the currencies involved, but the reports reviewed did not establish the amounts moved through each asset. No wallet addresses, transaction hashes, or exchange account identifiers have been published, and authorities have not said whether any proceeds were recovered or any cryptocurrency seized. Officials also have not disclosed whether the funds passed through licensed domestic exchanges or which overseas services were used.
Investigators suspect the company took roughly 1% of the converted money as compensation. At that rate, converting the full 91 million yen would equal about 910,000 yen, though authorities have not confirmed the suspects received that amount. ANN reported that three company executives, including Tanaka, allegedly directed the arrangements.
Jiji Press reported that investigators planned to refer the company to prosecutors on October 9 on suspicion of concealing criminal proceeds. Crypto News said it could not find confirmation that the referral had taken place. The suspects’ responses to the allegations have not been made public, no pleas have been disclosed, and no trial date has been announced. The arrests do not establish that they committed the suspected offenses.
The case follows increased scrutiny of crypto-linked fraud in Japan. In August 2026, the Financial Services Agency asked domestic exchanges to strengthen safeguards against rapid withdrawals of fraud-related assets, including withdrawal delays and improved monitoring. The National Police Agency recorded 9,523 social media investment fraud cases in 2025, with reported losses of about 128.8 billion yen.
In September 2026, police arrested two suspects in an 81 million yen cryptocurrency scam involving people posing as police officers. Investigators suspected links to a Cambodia-based operation and tied the pair to additional cases totaling about 240 million yen.
Separately, an INTERPOL-coordinated operation between January and April 2026 resulted in 5,811 arrests and identified more than 142,000 victims.
Source: Crypto News
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