More than $5 million in cryptocurrency and drugs supposedly linked to “dealings” on the darknet have allegedly been seized by police .
The massive amount of cryptocurrencies reportedly drew the attention of police in September 2024, leading to a raid on a property in Ingleburn, southwest Sydney, on Monday.
Police allege 52.3 bitcoin was located on electronic devices found at the home, valued at about $5.7 million at the time of discovery.
Detectives will allege the vast amount of funds were used on illicit online marketplaces, which advertise the sale of drugs and alcohol.
It came almost a year after police identified two men, aged 39 and 41, who allegedly had access to the cryptocurrency account.
A subsequent search of a property in Surfside, just north of Batemans Bay, on May 27, 2025, allegedly located 7.2g of cocaine and electronic devices with access to $47,000 in cryptocurrency.
Both men remain before the courts.
Commander of State Crime Command’s Cybercrime Squad, Detective Superintendent Matt Craft, said the alleged seizure was “one of the biggest cryptocurrency seizures in the nation’s history”.
More than $5million in cryptocurrencies and drugs have allegedly been seized in police raids across NSW. Credit: NSW Police