An international ecstacy-bitcoin ring was busted by Dutch authorities. 10 people were arrested on suspicions of running a multi-million dollar bitcoin laundering ring. The suspects laundered around 16 to 22 million dollars, according to a spokesperson for Openbaar Ministerie (OM), the Dutch public prosecution service. Fifteen places were raided in eight Dutch towns as part of the investigation, during which luxury cars, cash and the ingredients to make ecstasy were seized. The investigation, a joint effort between the US, Australia, Morocco and Lithuania, began when banks reported large sums of money being deposited into accounts and then immediately withdrawn, the OM spokesperson said. Sasha Kai Parker and Nik Zecevic break down the international bust on The Lip News.