$6,000,000 in Crypto Seized by Australian Police

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Police in the Australian state of Victoria seized more than $8.5 million AUD ($6 million USD) worth of crypto as part of an investigation into online drug trafficking.

The total sum is the largest cryptocurrency seizure ever in Australia, according to a report from the Victoria Police.

 

Law enforcement arrested two men and a woman related to the investigation, and also seized two properties, two vehicles and a variety of drugs. The total value of the seized assets is believed to be about $13.1 million AUD ($9.34 million USD).

The arrests and seizures are in connection with a nearly decade-long investigation into drug trafficking on a dark web platform. The investigation is spearheaded by Victoria’s Cyber Crime Squad and Criminal Proceeds Squad.

Commander Mick Frewen of the Victoria Police Crime Command says the investigation demonstrates the importance of adapting to crimes involving modern technology.

“This is a remarkable result and one that highlights the modern nature of serious and organized crime.

This is the 21st-century version of drug trafficking and money laundering, with criminals using technology to enable immense amounts of community harm and misery.

Police actively work on these forums and receive information from a wide range of sources including our Australian and international law enforcement partners.”

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