Cryptocurrency trading under scrutiny as two Israelis face multimillion-dollar tax evasion probes
Two Israelis face separate investigations into suspected cryptocurrency tax evasion involving millions of dollars, with authorities seizing digital wallets, foreign currency, and a luxury car.
Two Israelis are under investigation for tax evasion and money laundering linked to cryptocurrency trading worth tens of millions of dollars. Adiel Miost, detained by Israeli police, allegedly traded cryptocurrencies on multiple exchanges without notifying the Tax Authority, and failed to disclose income from personal tax returns.
He is further accused of possessing undeclared foreign bank accounts and using another individual's bank account to conceal his activities. Authorities seized large amounts of foreign currency and a luxury vehicle as part of the investigation. Miost's detention has been extended by six days.
Meanwhile, Ashdod resident Alexander Pochinsky, who manages a staffing company, was arrested on suspicion of not reporting approximately $13 million in cryptocurrency trading income. Pochinsky appeared before the Jerusalem Magistrate's Court and was released under strict financial guarantees, including a NIS 500,000 personal undertaking, NIS 200,000 guarantee from his wife, and a NIS 50,000 cash deposit.
He was also prohibited from leaving Israel for six months. The investigation into Pochinsky, who started trading cryptocurrencies in 2019, is ongoing.
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