Australian police have seized millions of dollars’ worth of digital currency, allegedly the proceeds of illegal activity on darknet marketplaces.
During the 15-month probe, police seized a total of $5.7 million in cryptocurrency and illicit drugs.
Detectives established that a 41-year-old man and a 39-year-old man allegedly had access to this cryptocurrency wallet, with bitcoin believed to be from illegal darknet dealings.
Online dealing could offer a range of goods and services, which include prohibited drugs and weapons.
In a series of search warrants starting in May last year, police allegedly seized several electronic devices and about 7.2 grams of cocaine at a home in Surfside, on the NSW South Coast.
This led detectives to further discover and seize $47,000 worth of cryptocurrency.
“A 39-year-old man was arrested and taken to Batemans Bay Police Station where he was charged with failing to comply with a digital evidence access order direction, deal with property proceeds of crime $5,000,000 or more, supply prohibited drug (indictable quantity) and supply prohibited drug,” NSW Police said in a statement.
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The NSW Police operation was ‘one of the biggest’ cryptocurrency seizures in Australian history. Source: NSW Police
The matter remains before the local court with the man expected to appear on Monday, June 15.
A 41-year-old man was also charged with alleged involvement in the crypto transfer worth over $100,000.
He remains before Campbeltown Local Court and is due to appear next Wednesday.
Fast forward to Monday, detectives and the riot squad executed a search warrant at 6.40am in Ingleburn, in Sydney’s southwest.
Police discovered and seized electronic devices where 52.3 bitcoin, valued at about $5.7 million was allegedly found. Detectives allege the crypto is linked to illegal darknet activity.
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Online dealing could offer a range of goods and services which include prohibited drugs and weapons. Source: Getty Images
(boonchai wedmakawand via Getty Images)‘One of the biggest’ crypto seizures in Australian history
Commander of State Crime Command’s Cybercrime Squad, Detective Superintendent Matt Craft, said the operation was “one of the biggest” cryptocurrency seizures in Australian history.
“[This is] a clear reminder that criminal activity on the darknet is not anonymous,” Det Supt Craft said.
“Criminals operating on the darknet often believe they are beyond the reach of law enforcement, but this investigation shows that is simply not the case.
“Darknet marketplaces remain a key enabler of serious criminal activity, and our detectives are actively targeting those who use them to trade illicit goods or launder money.”
Inquiries under Strike Force Andalusia are ongoing.
Anyone with information about organised criminal activity is urged to contact Crime Stoppers on 1800 333 000.
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