Australia’s Largest Crypto Seizure: Police Seize $ 6 Million In Digital Currency

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According to this, the percentage of illegal cryptocurrency transactions is Analyse of channelsReport, which represents approximately 2% of all transactions. While most cryptocurrency transactions are legal, they are being used more frequently for criminal activity.

The massive cryptocurrency seizure was part of an Australian dark web operation. The total value of the seized cryptocurrency was $ 6 million (AU $ 8.5 millions). According to authorities, it is the largest crypto seizure ever made in Australia.

Crypto and the dark web: How to enter

Victoria Police reportedThe ongoing investigation into online drugs trafficking led to the seizure. The seizure and arrests are part a larger investigation into online drug trafficking. Since early 2021, Australian authorities have been investigating dark web drug trafficking platforms.

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Detectives searched properties in Kinglake (Preston), Prahran, Dollar, and South Yarra on Thursday. The searches were carried out with the assistance of the East Gippsland Crime Investigation Unit (ECIU) and the Lower Coast Crime Investigation Unit (LCCIU). The properties contained several objects. These drugs include prescription drugs, MDMA, white powder, crystals, and prescription drugs. Assets worth AUD 13.1million were also seized by the police. Two properties in Kinglake, and Dollar were among the seized assets. They were valued at $ 2,000,000 each. Also seized were vehicles including a Toyota Prado (valued at $ 100,000) and a VW T-Cross (valued at around $ 100,000).

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The police stopped three people and interrogated them. The police stopped and interrogated three people, including a Kinglake woman aged 31 and a Preston man aged 30. The two were released without further investigation. However, the woman was charged with possessing cannabis. Preston’s address was also home to a 33-year old man.

Investigations continue

Still ongoing investigations into drug trafficking in Australia continue. Authorities encourage anyone with information about drug trafficking in Australia to contact them. Mick Frewen, Victoria Criminal Police Command Commander, noted that this case highlights the modern nature and sophistication of organized crime. “This is the 21st century version of drug trafficking and money laundering, with criminals using the technology to bring immense damage and misery to the community,” he said.

He also stated that although there may be an illusion of anonymity when it comes to online drug trafficking the survey proves the contrary. “We don’t apologize for targeting and holding accountable those involved in the trafficking and manufacture of illicit drugs.”

UK Police Seize $ 9.5 Million Ethereum Found On USB Drive| UK Police Seize $ 9.5 Million Ethereum Found On USB Drive

This is only one of many incidents that have been recorded in recent years. British police carried out investigations that led to crypto seizures. The latest confiscation involved large amounts Ethereum (ETH), found on USB drives connected with an international cryptocurrency scam.

Featured image from Decrypt, Chart


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